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Los Angeles Times
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Source: Los Angeles Times
1 DayLos Angeles Times
Source: Los Angeles Times
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The FCC has approved Paramount Skydance’s request allowing Middle Eastern royal families, including sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi, to hold nearly 50% of the ownership in a proposed Paramount-Warner Bros. Discovery merger. This approval permits foreign investors to potentially increase their stake in the merged company, which will include major media outlets like CBS, CNN, HBO, and Hollywood studios. The ruling emphasizes that the Ellison family will retain control, with foreign investors having no influence over content or management decisions. The deal faces ongoing antitrust challenges, but the foreign ownership approval moves the merger closer to completion.
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