FCC Commissioner Seeks Rigorous Review of Foreign Investment in Warner Bros Deal
FCC Commissioner Anna Gomez calls for a rigorous review of Paramount-WBD's proposed merger, citing national security concerns over 49.5% foreign ownership exceeding the 25% limit.
- On Tuesday, FCC Commissioner Anna Gomez urged the Federal Communications Commission to conduct a rigorous review of foreign ownership interests in the proposed Paramount-Warner Bros Discovery merger, citing national security and transparency concerns.
- Paramount seeks a declaratory ruling to exceed the 25% FCC cap on foreign broadcast license ownership; the combined company would be 49.5% foreign-owned, with 38.5% equity held by Middle Eastern investors.
- Citing a 2021 report linking Crown Prince Mohammed bin Salman to the 2018 murder of journalist Jamal Khashoggi, Gomez expressed alarm over the Saudi Public Investment Fund's involvement in the deal.
- Demanding "careful independent verification," Senators Cory Booker and Chuck Schumer echoed Gomez's concerns, while Paramount maintains the Ellison family will retain majority voting control with no governance rights for foreign investors.
- Public comments on the proposal remain open through May 27, with replies due June 11, as Gomez urges the FCC to coordinate with national security agencies before issuing a declaratory ruling.
13 Articles
13 Articles
FCC’s Gomez Calls For Review Of Paramount’s Dodgy Merger Financing
Anna Gomez, the FCC's lone Democratic Commissioner (because Republicans refuse to seat the second one) is calling for a rigorous review of Paramount and the Ellison family's planned $111 billion merger with Warner Brothers. As Paramount recently revealed, 49.5 percent of the deal's funding comes from Middle East and Chinese government-linked sources; just the sort…
FCC Commissioner Demands Close Scrutiny of 49.5% Foreign Investment in Paramount's Proposed Merger With Warner Bros.
Federal Communications commissioner Anna Gomez on Tuesday urged the agency to closely scrutinize foreign investment tied to Paramount Global’s proposed merger with Warner Bros. Discovery, which would leave the combined company just shy of half foreign-owned. “The American public deserves to know who owns the airwaves that carry their news,” Gomez, the lone Democrat on the FCC panel, said in a statement. “I am alarmed by what appears to be an eff…
Paramount Subscribers Sue To Block Warner Merger
Forbes reports: In a filing made before the Northern District of California federal court, the plaintiffs—a group of Paramount+ subscribers—argue the merger will “substantially lessen competition” and lead to increased prices for consumers and reduced quality, among other issues. The suit also raises concern about Paramount gaining control of CNN, saying it reflects a “broader consolidation strategy” that would undermine competition that protect…
FCC Commissioner Calls For “Rigorous” Review Of Foreign Ownership Investment In Paramount’s Proposed Acquisition Of Warner Bros. Discovery
The sole Democrat on the FCC is calling on the agency to investigate and examine foreign investment in Paramount’s proposed merger with Warner Bros. Discovery. 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. Paramount has petitioned the FCC to sign off on the foreign investment, as any foreign ownership stake above 25% req…
FCC commissioner seeks rigorous review of foreign investment in Warner Bros deal
The sole Democrat on the Federal Communications Commission on Tuesday called for a rigorous review of the foreign ownership interests in a proposed Paramount-Warner Bros. Discovery merger.
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