FCC Allows Foreign Governments to Own Nearly Half of Paramount-Warner Bros.
The Federal Communications Commission (FCC), under Chairman Brendan Carr, has approved a rule waiver allowing foreign sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to collectively own up to 49.5 percent of Paramount-Warner Bros Discovery. This decision bypasses the FCC’s standard limit on foreign equity ownership in U.S.-based media companies. Critics argue that this move undermines concerns about foreign influence over American news and entertainment content. The advocacy group Free Press has voiced opposition, highlighting the potential for these governments to use their stake as a tool for propaganda through domestic media channels. FCC Democratic Commissioner Anna Gomez also expressed concern on social media, noting that such an investment could secure significant influence over what is produced and broadcast. The FCC defended its decision by stating that the purchased shares lack voting rights and therefore cannot exert control over licensing or content decisions.
Topics: Brendan Carr FCC foreign ownership media regulation Paramount-Warner Bros.