Paramount Seeks FCC Approval for Foreign Investors Backing Warner Bros ...
Paramount says the foreign money will help fund local news, technology upgrades and broader programming as it pursues the $111 billion acquisition.
- On Monday, Paramount Skydance filed with the Federal Communications Commission to approve foreign financing for its $111 billion acquisition of Warner Bros. Discovery, revealing Middle Eastern sovereign wealth funds will hold 38.5% of the new entity's equity.
- Paramount CEO David Ellison and RedBird Capital Partners will retain 100% of voting power in the merged company, while the $24 billion capital injection provides 'greater access to capital' to improve broadcast competition.
- Filings indicate Saudi Arabia's Public Investment Fund will hold 15.1% equity, L'imad Holding Company will hold 12.8%, and Qatar Investment Authority will hold 10.6%, pushing total indirect foreign ownership to approximately 49.5%.
- A Paramount spokesperson described the filing as 'completely standard,' noting it is not a condition to closing the acquisition, while FCC Chair Brendan Carr stated the commission's role would be minor.
- The commission will accept public comments regarding the petition until May 27, with replies due by June 11, as Paramount projects the $110 billion merger will close by September.
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The state of the media business has declined precipitously during the second occupation of the White House by Donald Trump. Either they have capitulated to his threats, lied to “sanewash” his incoherent babbling, soft-pedaled his autocratic policies, or just failed to demonstrate the courage that is expected from practitioners of a free press. Click here to post this article on Twitter or Click here to post on Bluesky In short, the performance o…
Los Angeles Times
The DerrickParamount wants FCC to approve increased foreign ownership in Warner Bros. Discovery deal
The Larry Ellison-backed takeover of Warner Bros. Discovery would give Middle Eastern royal families an ownership stake in CBS and CNN.
The move indicates how much the $111 billion deal depends on sovereign wealth from the Middle East.
Paramount-Warner Bros. Discovery Will Be 38.5% Owned by Middle Eastern Funds Following Close: Filing
Paramount Skydance said the merged Paramount-Warner Bros. Discovery will be 49.5% owned by foreign investors, with about 38.5% of the entire company held by a trio of Middle Eastern funds.
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