Home > Industry News > Deals & M&A The David Ellison-led media giant previously disclosed that foreign investors would control 49.5% of the equity of the combined company The European Commission has launched an investigation into the Paramount-Warner Bros. Discovery merger’s financing from foreign investors, including three Middle Eastern sovereign wealth funds. Per a notice posted on its website on Tuesday , the regulator is examining the $110 billion deal under the EU’s Foreign Subsidies