AI-written summary of reporting by Variety. No human editor reviewed this. AI can misread or omit facts — read the original, linked below.
ABSTRACT

The Federal Communications Commission on Thursday approved Paramount's petition to allow 49.5% of its equity to be held by foreign entities once the Warner Bros. Discovery deal is complete. Paramount owns 28 TV stations and needed FCC approval for foreign ownership over 25%, and the acquisition is backed by three Gulf state sovereign wealth funds.

Variety

FCC approves Paramount petition for 49.5% foreign ownership in Warner Bros. Discovery deal

Sep 17, 2026, 6:59 PM

The Federal Communications Commission on Thursday approved Paramount's petition to allow 49.5% of its equity to be held by foreign entities once the Warner Bros. Discovery deal is complete. Paramount owns 28 TV stations and needed FCC approval for foreign ownership over 25%, and the acquisition is backed by three Gulf state sovereign wealth funds.

Context

In approving the petition, the FCC said it dispensed with concerns over national security and improper influence, noting that the foreign funds, from Saudi Arabia, Qatar and Abu Dhabi, will not own voting stock.

Paramount sought permission for the foreign funds to own up to 100% of the equity, given the potential need for future investment, though the funds will own 49.5% when and if the merger goes through. The commission approved the request, provided that Paramount must obtain further approval if the entities are to own voting shares.

The merger is on hold pending the outcome of an antitrust suit filed in July by California and 11 other states. A trial is scheduled to begin next March.

Gaps & Unknowns
  • The source does not state the names of the three Gulf state sovereign wealth funds or the size of their investments.
  • The source does not state the terms, value, or expected timeline of Paramount’s acquisition of Warner Bros. Discovery.
  • The source does not state the specific national security or improper influence concerns the FCC said it dispensed with.
  • The source does not state the current status of the antitrust suit beyond that it is pending and that a trial is scheduled to begin next March.
  • The source does not state whether Warner Bros. Discovery, the foreign investors, the Ellison family, or RedBird Capital Partners commented on the FCC approval.
  • The source does not state the date of the FCC approval beyond Thursday.
Sources & Further Reading
  1. Variety — original

Read the original at Variety

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