The Federal Communications Commission approved Paramount Skydance Corp.’s request to allow foreign financing in excess of 25% in its proposed acquisition of Warner Bros. Discovery Inc., saying that doing so would “serve the public interest.”
The FCC Paramount’s proposed merger with Warner Bros. Discovery cleared an FCC review of its foreign ownership stake. Paramount has disclosed that total foreign ownership of the combined company would be 49.5%, including 38.5% from investment funds from Saudi Arabia, Qatar and Abu Dhabi.
The Federal Communications Commission on Thursday approved Paramount’s petition to allow 49.5% of its equity to be held by foreign entities once the Warner Bros. Discovery deal is complete. Paramount owns 28 TV stations, and thus must get the FCC’s approval for foreign ownership over 25%.
The Federal Communications Commission gave its approval to Paramount Skydance’s requested 49.5% foreign ownership stake in its pending merger with Warner Bros. Discovery on Thursday. The move lets foreign investors, including sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emira…
WASHINGTON (Reuters) — The Federal Communications Commission approved a Paramount Skydance request to allow foreign investors to back its $110 billion acquisition of Warner Bros Discovery but said they could not hold voting stock.
As Paramount looks to take over Warner Bros. Discovery, it’s racked up billions of dollars in financial backing from three Gulf countries. And the Federal Communications Commission has now approved the company’s ask for sizeable indirect ownership from those foreign investors.
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FCC allows Gulf state wealth funds to own nearly half of Paramount-Warner Bros. | Since Then
