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business1d ago
Paramount wants FCC to approve increased foreign ownership in Warner Bros. Discovery deal
- Paramount Skydance asks the FCC to approve above-25% foreign ownership for the Warner Bros. Discovery merger.
- The deal would include $24 billion from Middle Eastern royal families, helping finance the $111 billion transaction.
- The Ellison family would maintain voting control after the deal closes, with Class A shares carrying the voting power.
- FCC review could shape whether the merged firm exceeds foreign ownership limits.
- Lawmakers have raised concerns about foreign ownership and media independence.
- Regulators are reviewing antitrust implications alongside the foreign ownership request.
- The deal aims to combine HBO Max and Paramount+ under one umbrella in a broader media shift.
- Regulatory timelines target approvals by the coming summer.
- The deal would place one of the largest leveraged buyouts in history at roughly $111 billion.
- Thousands of creators signed a letter opposing the deal over concerns about media concentration.
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