Tag

Foreign Ownership

All articles tagged with #foreign ownership

business19 days ago•17 min saved

Paramount-WBD Merger Faces Intensifying Regulatory Scrutiny

Opposition to Paramount’s planned merger with Warner Bros. Discovery is intensifying, with House Democrats, state attorneys general, and Hollywood figures urging a rigorous review of foreign ownership and its potential impact on competition and local journalism. Regulators, including FCC Commissioner Anna Gomez, are being pressed to scrutinize the deal, which would place about 49.5% of the combined company under foreign investors. Proponents argue the tie-up could boost output with a slate of around 30 films per year, while critics question whether it would meaningfully harm competition given the reported market shares. With a September close still the target, many opponents are focusing on concessions like labor protections or production guarantees rather than outright blocking.

via Variety|

#antitrust #business #fcc-review

business1 month ago•17 min saved

Middle East Funds Take 38.5% Equity Slice in Paramount-WBD, Filing Shows

Paramount’s FCC filing reveals that the merged Paramount-Warner Bros. Discovery will have 38.5% of its equity owned by foreign investors, allocated to Saudi Arabia’s Public Investment Fund (15.1%), UAE’s SWF (12.8%), and Qatar Investment Authority (10.6%), with no board seats or voting rights for these investors. The company is seeking a declaratory ruling to permit indirect foreign ownership above 25% and to allow future increases up to 20% for certain non-controlling investors. The Ellison family and RedBird Capital will retain the largest stake and 100% voting power, while European regulatory approvals and potential state challenges remain in play.

via Variety|

#business #fcc-declaratory-ruling #foreign-ownership

business1 month ago•15 min saved

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.

via Deadline|

#business #capital-access #fcc

business1 month ago•17 min saved

Paramount Seeks FCC Nod for Middle East Financing in Warner Bros. Merger

Paramount filed a petition with the FCC seeking approval for indirect foreign investment by Saudi Arabia’s PIF, Abu Dhabi’s L’Imad, and Qatar Investment Authority in its $111 billion Warner Bros. Discovery deal. The three sovereign funds would hold non-voting equity while the Ellison family and RedBird retain voting control; the filing notes the indirect foreign ownership would be about 49.5% and asks for a ruling that could allow up to 100% foreign ownership of equity or voting shares—though the FCC’s approval would cover foreign financing, not the deal itself. The three funds are expected to provide roughly $24 billion of capital, with PIF as the largest contributor, and the filing argues the investment would bolster local programming, tech, and competition.

via The Hollywood Reporter|

#business #fcc #foreign-ownership

business2 months ago•7 min saved

FCC Chief Sees Paramount-WBD Tie as Cleaner Path Than Netflix Bid

FCC Chairman Brendan Carr says Paramount Skydance’s roughly $111 billion merger with Warner Bros. Discovery is significantly cleaner than Netflix’s defunct bid and would likely undergo only a pro forma review of foreign debt under bona fide debt rules; the deal is backed in part by sovereign wealth funds from Gulf states, and while foreign ownership could trigger FCC scrutiny (or waivers) if an attributable interest is created, the review is not expected to block the deal, with DOJ reviewing and state/foreign regulators also weighing in.

via Ars Technica|

#business #fcc #foreign-ownership

media2 years ago•2 min saved

"UK Bans Foreign State Ownership of Newspapers, Thwarting Telegraph Takeover"

The U.K. government has moved to block foreign state ownership of newspapers and newsmagazines, dealing a blow to former CNN chief Jeff Zucker's bid for The Telegraph and The Spectator Magazine, which relied heavily on financing from Emirati backers. The proposed legislation aims to prevent foreign influence in the British media, particularly concerning the Conservative Party's interests. RedBird IMI, Zucker's media venture company, may attempt to salvage the bid by finding new investors and reducing the Emiratis' majority stake to comply with the government's rules.

via The New York Times|

#foreign-ownership #jeff-zucker #media

national-security-agriculture2 years ago•6 min saved

"Rising Concerns Over Foreign Ownership of US Farmland"

A new Congressional report reveals that foreign investors, including those from adversarial nations like China, Russia, Iran, and Venezuela, own at least 40 million acres of US farmland, pastures, and forests, raising concerns about national security and food supply chains. The report highlights the lack of reliable tracking of foreign land ownership by US officials, with some plots near sensitive military facilities. Chinese firms alone own 346,915 acres of American agricultural land, and the USDA's data on foreign investments in agricultural land is deemed sparse and unreliable. The report has sparked bipartisan outrage, with demands for the Biden Administration to clamp down on purchases from adversaries to protect America's defenses.

via Daily Mail|

#agriculture #congressional-report #foreign-ownership

business2 years ago•7 min saved

Controversy Surrounds Nippon Steel's Bid for US Steel

The announcement of U.S. Steel being purchased by Nippon Steel Corporation for $14.9 billion has elicited a range of reactions in and around Pittsburgh. While shareholders are happy, concerns have been raised about national security implications and the impact on U.S. Steel employees. Many people in the region feel a strong connection to the steel industry, which played a significant role in establishing the U.S. as a global superpower. Some see the sale as a repeat of past betrayals by U.S. Steel, while others hope that Japanese ownership could bring new life to the struggling industry.

via 90.5 WESA|

#business #foreign-ownership #nippon-steel-corporation

national-security2 years ago•2 min saved

Arkansas Compels Chinese-Owned Seed Producer to Divest 160 Acres Over Security Worries

The state of Arkansas is forcing a Chinese-owned seed producer, Syngenta, to sell 160 acres of farmland within the next two years due to national security concerns. The company, acquired by China National Chemical Corp in 2017, is on the US Department of Defense's list of Chinese military companies posing a threat to national security. Arkansas Governor Sarah Huckabee Sanders stated that seeds are considered technology, and hostile countries could exploit knowledge of American farming practices. The state's Attorney General, Tim Griffin, announced a fine for Syngenta for failing to disclose its foreign ownership. The move marks the first enforcement of a law banning foreign entities from owning agricultural land in Arkansas.

via New York Post |

#arkansas #chinese-owned-seed-producer #farmland

agriculture2 years ago•6 min saved

China's Acquisition of U.S. Farmland: Unveiling the Truth

A review of USDA documents by NBC News found that Chinese entities have made very few purchases of U.S. farmland in the past year and a half, amounting to less than 1,400 acres, or less than three-hundredths of 1% of the country's agricultural land. However, the review also revealed lax reporting and enforcement of foreign ownership, with some transactions not being reported for years. The majority of foreign purchases were made by European wind power companies leasing land for wind turbines. Lawmakers are pushing for stricter regulations on foreign ownership due to national security concerns, but enforcement has been weak, with only a few penalties imposed in the past decade.

via NBC News|

#agriculture #china #foreign-ownership

politics3 years ago•5 min saved

"States and Gov. DeSantis Take Action Against Chinese Land Ownership and Digital Rights"

Several states in the US are passing laws to restrict foreign ownership of farmland, citing national security concerns and the need to protect American agriculture. However, data from the USDA shows that holdings by Chinese investors and partners make up less than 1% of foreign-owned farmland and 0.03% of all US farmland. Critics argue that these laws discriminate against Chinese Americans and echo xenophobic policies from the past. Some lawmakers propose using the current review process for sensitive foreign investments or tweaking it slightly to address national security concerns.

via HuffPost|

#china #discrimination #farmland

politics3 years ago•3 min saved

"Texas Senate Passes Controversial Bills on Land Ownership and Zoning"

The Texas Senate has passed a bill that prohibits citizens of countries that pose a national security threat to the US from owning certain types of land in the state, including agriculture, oil, timber, and mineral-bearing areas. The legislation targets China, Russia, Iran, and North Korea, which have been named on the Director of National Intelligence's National Threat Assessment for three years in a row. Lawful permanent residents and dual citizens will still be allowed to buy land. Similar bills have been introduced in other states, and at the national level, Sen. Tom Cotton has introduced a bill that would ban Chinese citizens from purchasing farmland and real estate in the US.

via Fox News|

#china #farmland #foreign-ownership