US panel approves Paramount-Warner merger
The Federal Communications Commission approved foreign funding for a merger deal between Paramount and Warner Bros. valued at $110 billion, with restrictions preventing foreign investors from owning shares that grant voting rights or control over major decisions. The commission stated that foreign investors can hold up to 20% of the company's shares without impacting content management or operations. Additionally, investors from the Middle East are expected to control approximately 85% of the shares after the deal is finalized, including 15.1% owned by Saudi Arabia's Public Investment Fund. Notably, the deal is temporarily suspended following a judicial challenge from 12 U.S. states, despite approval from the Department of Justice and the commission to proceed, to ensure that foreign investors do not access sensitive data or influence internal company decisions.
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