U.S. FCC allows Saudi, Qatari, and Emirati sovereign wealth funds to hold indirect equity in Paramount-Warner Bros. Discovery merger

The U.S. Federal Communications Commission approved on Thursday a request from Paramount to allow sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates to hold indirect equity interests in the combined company resulting from its proposed $81 billion merger with Warner Bros. Discovery. The funds, which have committed $24 billion, will not receive voting stakes. The approval, granted at staff level, permits up to 100% indirect equity, exceeding the 25% foreign ownership threshold. Critics, including FCC Commissioner Anna Gomez, warn of potential foreign influence. The merger remains on hold due to an antitrust lawsuit by California and 11 other states.