# FCC approves Gulf funds for Paramount-Warner merger

> FCC grants Paramount indirect ownership of Gulf funds in Warner Bros. Discovery buyout.
- Title: FCC approves Gulf funds for Paramount-Warner merger | Shortify
- Summary: FCC grants Paramount indirect ownership of Gulf funds in Warner Bros. Discovery buyout. FCC approved Saudi, Qatar and UAE sovereign wealth funds to hold…
- Keywords: fcc, paramount, warner bros discovery, sovereign wealth fund, gulf countries, indirect ownership, antitrust, merger, news, local, approves, Gulf
- Source: Seattletimes — https://seattletimes.com/business/fcc-grants-paramounts-indirect-ownership-request-for-gulf-funds-in-warner-bros-discovery-buyout
- Read time: 1 min
- Topics: fcc, paramount, warner bros discovery, sovereign wealth fund, gulf countries, indirect ownership, antitrust, merger, news, local
## FCC approves Gulf funds for Paramount
The U.S. Federal Communications Commission approved sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates to hold indirect equity in Paramount-Warner Discovery without voting rights.
## Paramount welcomes FCC ruling
Paramount welcomed the FCC’s decision, stating the foreign funds would not have governance rights and the Ellison family and RedBird Capital would remain majority owners of the combined company.
## Critics call move unprecedented
Critics argue the move allows repressive governments to indirectly control nearly all of Paramount-Warner’s news operations, including CBS and CNN.
## Gulf funds commit $24 billion
Saudi’s Public Investment Fund, L’imad Holding Company in the UAE and the Qatar Investment Authority reportedly committed $24 billion to fund the Paramount-Warner acquisition.
## FCC grants up to 100% indirect equity
The FCC granted clearance for up to 100% indirect equity interests to account for potential future investments, surpassing the 25% foreign ownership threshold.
## FCC commissioner warns of influence
Anna Gomez, the FCC’s sole Democratic Commissioner, warned the move lets repressive governments indirectly control news content and criticized the staff-level decision-making process.
## Lawmakers raise concerns
Democratic Senators Elizabeth Warren and Maria Cantwell wrote a letter to FCC chairman Brendan Carr expressing serious concerns about the sovereign funds’ involvement.
## Merger faces antitrust challenges
California and 11 other states sued to block the Paramount-Warner merger, arguing it would extinguish competition in Hollywood and reduce consumer choices.
## Key takeaway

FCC approved Saudi, Qatar and UAE sovereign wealth funds to hold indirect equity in Paramount-Warner merger without voting rights, bypassing antitrust concerns.