The Federal Communications Commission (FCC) has approved a Paramount Skydance request to allow foreign investors to back a $110 billion acquisition of Warner Bros. Discovery (WBD).
On Sept. 17, the FCC said it was waiving the 25 percent cap on foreign equity ownership, allowing individual investors to own up to 20 percent of the equity.
It also said foreign investors can have no voting stock and “will not have any influence, direction, or control over or provide any commentary or guidance on Paramount’s content decisions, company management.”
“A combined Paramount–WBD will have the scale and resources necessary to compete, invest, innovate, and deliver premium content to audiences worldwide,” Paramount said….