Paramount Skydance Warner Bros Discovery Merger Awaits FCC and EU Rulings Before July 22 Close
Paramount Skydance's $110.9 billion acquisition of Warner Bros. Discovery remains unclosed as of mid-July 2026, pending an FCC declaratory ruling on the combined entity's approximately 49.5% foreign ownership and a European Commission Phase I decision on submitted remedies, both with a July 22 deadline. The DOJ cleared the deal without conditions on June 12, and no asset divestitures have been required by any regulator. A separate multistate antitrust complaint from attorneys general in California, New York, and Oregon was expected to be filed the week of July 13, introducing an additional legal variable independent of federal approval.