3 Senators Urge FCC to Halt Paramount-WBD Merger Over 49.5% Foreign Ownership

2 articles · Updated · Deadline · Jun 19

Three Democratic senators asked the FCC to block the Paramount-Warner Bros. Discovery merger from closing until a foreign-ownership review is finished, warning that sovereign wealth funds tied to Saudi Arabia, Qatar and Abu Dhabi would hold 38.5% of the combined company.
49.5% total foreign ownership requires FCC approval because it exceeds the 25% statutory threshold, and the national-security review formally entered a 120-day clock on Tuesday through the telecom-sector foreign participation committee.
The lawmakers said Paramount is also seeking advance approval for foreign investors to raise individual stakes to 20%, which they argued could eventually allow aggregate foreign ownership to reach 100% of the parent of CBS, CNN and 28 broadcast stations.
Paramount countered in FCC filings that precedent supports foreign investment up to 100% and said the Ellison family and RedBird would own all voting shares, leaving other equity investors with no governance rights or board seats.
The FCC fight adds to remaining regulatory hurdles after the Justice Department ended its antitrust probe last week; Paramount aims to close by Sept. 30 or face daily ticking-fee payments to shareholders.

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Deadline7h ago

Senators Call FCC to Block Paramount-WBD Merger Over Foreign Ownership Concerns

Variety7h ago

Democratic Senators Urge FCC to Block Paramount-Warner Bros. Merger From Closing Until Review of Deal's Foreign Investment Concludes

Is a $24 billion foreign investment a necessary rescue for Paramount or a threat to US media independence?

Can US voting control truly shield American newsrooms from the influence of a 49.5% foreign government stake?

Paramount Skydance–Warner Bros. Discovery Merger: $40.7 Billion Deal Faces FCC, CFIUS, and Press Freedom Scrutiny

Overview

The proposed merger between Paramount Skydance and Warner Bros. Discovery aims to unite major studios and networks like CNN and CBS, strengthening their position against streaming competitors. After an eight-month investigation, the Antitrust Division found the deal unlikely to harm competition or consumers, addressing concerns in streaming, television, and film production. This clearance is a major step forward, but the merger still faces review from the FCC and scrutiny over foreign investment and national security. The outcome will shape the future of media ownership, press freedom, and foreign influence in the U.S. media landscape.

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