FCC Approves Foreign Investment for Paramount-Warner’s $110B Acquisition
In a significant regulatory milestone, the Federal Communications Commission (FCC) has given the green light for foreign investors, including three influential Middle Eastern sovereign wealth funds, to support Paramount Skydance’s colossal $110 billion acquisition of Warner Bros. Discovery. The ruling was issued on Thursday, September 17, 2026, and permits foreign entities to possess up to 49.5% of Paramount’s non-voting equity in the merged media behemoth.
The sanctioned foreign investors comprise of Saudi Arabia’s Public Investment Fund (15.1% equity stake), the UAE’s L’Imad Holding Company (12.8%), and Qatar’s Investment Authority (10.6%). The FCC underscored that none of the foreign investors will hold voting stock, nor will they exert any influence over content decisions or gain access to non-public data on U.S. citizens.
The decision has ignited a debate. Democratic senators and FCC Commissioner Gomez expressed concerns over foreign government influence on American media. In contrast, Paramount contended that the combined entity would possess the scale necessary to rival dominant Big Tech platforms. The merger is still under scrutiny due to an ongoing multi-state antitrust lawsuit. The deal was partially financed by a $45.7 billion equity commitment from the Ellison Trust and a $57.5 billion debt commitment from Bank of America Merrill Lynch, Citi, and Apollo.
Source: Variety — FCC Approves 49.5% Foreign Ownership of Paramount-Warner Bros.