NEWS: The FCC approved Paramount’s request to allow foreign ownership to exceed the 25% statutory benchmark, clearing a regulatory hurdle tied to its proposed acquisition of Warner Bros. Discovery (WBD).
In its declaratory ruling, the FCC found that allowing up to 100% aggregate indirect foreign equity ownership of Paramount would serve the public interest, subject to the Commission’s rules and specified conditions.
The FCC specifically approved indirect holdings above 5% for:
- Saudi Arabia’s Public Investment Fund: 15.1%
- UAE entities associated with L’imad: 12.8%
- Qatar’s QIA TMT Holding / Qatar Investment Authority: 10.6%
From the ruling:
“we find that the public interest would be served by permitting indirect foreign equity ownership of Paramount … to exceed the 25% benchmark”
The FCC further found it in the public interest to permit “up to 100% indirect foreign equity interest of Paramount, in the aggregate,” subject to applicable rules, commitments, and conditions.