Paramount Seeks FCC Approval as WBD Merger Projects 49.5% Foreign Ownership
Paramount has filed with the FCC to approve a 49.5% foreign-ownership stake in the planned Paramount-Warner Bros. Discovery merger, with about 24% held by three Middle East funds. The company says non-U.S. investors are passive and the arrangement will boost capital to compete in television and video programming. The $110 billion deal is expected to close by September, though some state attorneys general are reviewing antitrust options; Netflix’s earlier bid for Paramount’s studios division was eclipsed by Paramount’s full-merger offer.
