FCC Waives Foreign Ownership Rules for Paramount Deal Under Brendan Carr

The Federal Communications Commission (FCC), under the leadership of Brendan Carr, has granted a waiver allowing foreign sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to collectively own 49.5 percent of Paramount. This decision bypasses standard regulations that typically cap foreign equity ownership in broadcast media at 25 percent. The move has sparked criticism regarding the FCC's regulatory priorities, as observers note that while the commission has been aggressive in scrutinizing the content and interview practices of domestic networks like ABC, it has simultaneously relaxed ownership restrictions for foreign state-backed entities. The approval of this deal marks a significant shift in how the agency handles foreign investment in major American media conglomerates, raising questions about the balance between international capital interests and domestic regulatory oversight in the telecommunications and media sectors.