FCC approves Paramount's 49.5% foreign equity stake sale

The Federal Communications Commission (FCC) has officially approved Paramount Skydance's proposal to sell a 49.5 percent equity stake to sovereign wealth funds from Saudi Arabia, the United Arab Emirates, and Qatar. Under existing US regulations, broadcast license holders are generally restricted to a 25 percent foreign ownership limit. Paramount, which operates 28 local CBS stations, requested a waiver to exceed this threshold to facilitate the financing of its $111 billion acquisition of Warner Bros. Discovery. While the Department of Justice has cleared the merger, the deal currently faces legal challenges from various US states attempting to block the consolidation. The FCC's decision marks a significant regulatory milestone for the media conglomerate as it navigates complex international investment structures and ongoing antitrust scrutiny regarding its expansion efforts.