FCC grants Paramount’s indirect ownership request for Gulf funds in Warner Bros. Discovery buyout
The FCC approved Paramount's request for significant indirect ownership by sovereign wealth funds from three Gulf countries. This financial backing supports Paramount's proposed acquisition of Warner Bros. Discovery. The ruling marks a major step in the multibillion-dollar media merger.
CHICAGO (AP) — As Paramount looks to take over Warner Bros. Discovery, it’s racked up billions of dollars in financial backing from three Gulf countries. And the U.S. Federal Communications Commission has now approved the company’s ask for sizeable indirect ownership from those foreign investors. The FCC cleared the way on Thursday, granting sovereign wealth...
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