FCC allows Middle East funds major stake in Paramount
The FCC has approved Paramount’s plan to sell a 49.5 percent equity stake in the company to sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi, exceeding the usual 25 percent foreign ownership cap. The FCC justified the waiver because the new shares are non-voting, giving overseas investors no direct control. Some FCC officials and advocacy groups have raised concerns about foreign governments’ influence over a major US media company.
- FCC waived 25% foreign equity limit for Paramount
- Saudi, Qatari, and Abu Dhabi funds to hold 49.5% stake
- Foreign shares are non-voting, FCC says no content influence
- Some commissioners and advocates warn of possible influence
- Approval issued without a full FCC vote
Sources covering this
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