The European Commission is expected to approve Paramount Global and Warner Bros. Discovery’s $110B merger by July 7 without opening an in-depth investigation, the Financial Times reported. The companies have met with Commission officials and are expected to offer limited remedies, which could include ending Paramount’s international distribution deal with Universal Pictures or divesting children’s TV assets. The development reduces the transaction’s perceived regulatory risk, while the UK continues a separate review.

Three Democratic U.S. senators urged FCC Chairman Brendan Carr to prevent the Paramount–Warner Bros. Discovery merger from closing until a national security review of the combined company’s 49.5% foreign ownership is completed. Paramount has said 38.5% would come from investment funds tied to Saudi Arabia, Qatar and Abu Dhabi, and the review has begun a 120-day clock that could end earlier. The companies have pledged to close by September 30 or pay shareholders a “ticking fee” of several million dollars per day, after the Justice Department ended its antitrust review without a challenge. The deal still needs FCC approval as well as review by UK and European Union regulators and a group of state attorneys general.