Paramount Seeks FCC Approval for Foreign Investment in Warner Bros. Discovery Merger
Paramount has requested FCC approval for foreign investors to hold a 49.5% stake in the merged entity with Warner Bros. Discovery, including significant investments from Middle Eastern funds.
Paramount Skydance has petitioned the Federal Communications Commission (FCC) to approve foreign investments that would result in non-U.S. investors holding 49.5% of the equity in its proposed merger with Warner Bros. Discovery. The filing, made public on April 27, 2026, seeks permission for foreign investors to indirectly hold equity and voting interests exceeding the 25% statutory benchmark.
The proposed foreign ownership includes significant stakes from Middle Eastern sovereign wealth funds: Saudi Arabia's Public Investment Fund (15.1%), the United Arab Emirates' sovereign wealth fund (12.8%), and the Qatar Investment Authority (10.6%).
Paramount emphasized that these foreign investors will not have board seats or voting shares, ensuring that control remains with the Ellison family and RedBird Capital Partners.
A Paramount spokesperson stated that the filing is standard for such investments and is not a condition for closing the acquisition.
The $110 billion merger has received shareholder approval and is expected to close in the third quarter of 2026, pending regulatory approvals.