FCC allows foreign governments to hold 49.5% stake in Paramount
publishers 2articles 2first reported 18 Sep, 15:12 UTCdeveloping since 18 Sep · 3 editions
The Federal Communications Commission (FCC) has approved a deal allowing three sovereign wealth funds, managed by the governments of Saudi Arabia, Qatar, and Abu Dhabi, to own a 49.5% equity stake in Paramount. This decision waives the FCC's usual rule limiting foreign equity ownership to 25 percent. According to Ars Technica, the FCC has rejected concerns about repressive governments buying influence over CBS owner Paramount. Meanwhile, The Verge reports that during Brendan Carr’s tenure at the FCC, the agency has shown a focus on other issues, such as who The View interviews, rather than concerns over foreign government ownership of Paramount. The approval marks a significant shift in the FCC's approach to foreign investment in major media companies.
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