Paramount, In Request For FCC Funding OK, Notes It Will Be 49.5% Foreign-Owned After WBD Merger

Story Arc

Paramount has noted it will be 49.5%-owned by non-U.S. investors after completing a planned merger with Warner Bros. Discovery.

The stat came to light in a request Monday by Paramount for approval of the foreign ownership stake by the Federal Communications Commission. The company said the arrangement, including a 24% holding shared by three Middle East investment funds, will give the combined company “greater access to capital.” The infusion of financial resources will enable Paramount to “compete more effectively in the provision of television broadcast services and in the broader video programming marketplace,” the filing said.

Related Stories

David Zaslav Merger Payout Approved By Just 17% Of WBD Shareholders; 82% Opposed