FCC Approves Foreign Investment in Media Merger, Draws Criticism

The Federal Communications Commission approved a petition that would allow foreign investors to hold over 25% of the company created by the merger of Paramount and Warner Bros. Discovery. The commission concluded that this plan was in the public interest. The approved plan involved 49.5% foreign ownership, which included 38.5% from investment funds based in Qatar, Saudi Arabia, and the United Arab Emirates.

The approval of foreign capital from countries such as Qatar, Saudi Arabia, and the UAE into a major media entity has drawn sharp criticism. Senator Bernie Sanders criticized the approval, stating that the deal involved foreign investment from regimes he described as dictatorships.