The Federal Communications Commission approved foreign ownership in Paramount Skydance's planned $110 billion purchase of Warner Bros. Discovery. The FCC granted Paramount's request to allow financing of more than 25% for the transaction, waiving its 25% cap on foreign equity ownership and permitting individual investors to own up to 20% of the equity. The regulator said foreign investors can have no voting stock and will not have any influence, direction, or control over Paramount's content decisions or company management. Paramount said it appreciated the FCC's careful review and was pleased the petition was granted consistent with its established process. The approval comes as the deal has been halted after 12 state attorneys general, led by California, sued to block the mega media deal in July, with a trial scheduled for March; on Tuesday a court ordered Paramount and California Attorney General Rob Bonta to meet on October 14 to try to work on a potential settlement.
Paramount Skydance Corporation Class B Common StockFCC approved foreign ownership financing above the 25% cap for Paramount's $110B Warner Bros. Discovery acquisition, advancing the deal.
Warner Bros Discovery IncFCC approval of foreign ownership clears a regulatory hurdle for Paramount's $110B purchase of Warner Bros. Discovery.
