As Paramount seeks approval from an array of antitrust authorities for its acquisition of Warner Bros. Discovery, Democrats are turning to another front in their opposition: The foreign investors in the transaction.
Paramount has disclosed that total foreign ownership of the combined company would be 49.5%, including 38.5% from investment funds from Saudi Arabia, Qatar and Abu Dhabi. Paramount has petitioned the FCC to sign off on the foreign investment, as any foreign ownership stake above 25% requires agency approval. The FCC is in the midst of a public comment period on Paramount’s request, with submissions due by May 27.
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