Paramount requests FCC approval for Middle East funds' major equity stake in WBD deal
Updated
Updated · The Wall Street Journal · Apr 27
Paramount requests FCC approval for Middle East funds' major equity stake in WBD deal
13 articles · Updated · The Wall Street Journal · Apr 27
Paramount seeks FCC permission for Persian Gulf sovereign-wealth funds to indirectly own nearly 50% of its equity as part of its $81 billion Warner Bros. Discovery acquisition.
The $24 billion investment involves Saudi Arabia’s PIF, Qatar Investment Authority, and Abu Dhabi’s L’imad Holding Co. Paramount’s financing also includes $54 billion in debt commitments from major banks and Apollo Global Management.
FCC rules currently limit foreign ownership in broadcast license holders to 25% without a waiver. Paramount argues that easing these restrictions will strengthen industry competitiveness, while Ellison family and RedBird retain voting control post-merger.
What national security risks does a 49.5% foreign stake in a major US media company pose?
Can the Ellison family truly shield newsrooms like CNN from owner influence and foreign capital?
Will this media giant's $80 billion debt lead to massive job cuts across Hollywood studios?
With no voting rights, how could $24B from Gulf states still influence Hollywood's creative direction?
How will state attorneys weigh consumer prices against the creation of a global media competitor?