Paramount Seeks FCC Approval for 49.5% Foreign Ownership After Warner Bros. Discovery Merger
By
Dade Hayes
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Summary
Paramount has disclosed to the FCC that after its planned merger with Warner Bros. Discovery, the combined company will be 49.5% owned by non-U.S. investors, including a 38.5% stake held by three Middle East investment funds. Paramount is seeking FCC approval for the foreign ownership structure, arguing it will provide greater access to capital and enable the company to compete more effectively in television broadcast services and the broader video programming marketplace.
Key quotes
· 2 pulledThe company said the arrangement, including a 38.5% holding shared by three Middle East investment funds, will give the combined company 'greater access to capital.'
The infusion of financial resources will enable Paramount to 'compete more effectively in the provision of television broadcast services and in the broader video programming marketplace.'
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