Six Democratic U.S. senators urged for a rigorous review of foreign ownership plans in Skydance-backed Paramount’s proposed takeover of Warner Bros. Discovery.
In a letter sent Wednesday to FCC Chairman Brendan Carr, the lawmakers raised concerns about financing linked to sovereign wealth funds in Saudi Arabia, the United Arab Emirates, and Qatar, which are expected to help back the proposed $111 billion transaction.
“Foreign governments hostile to a free and independent press could exert unprecedented influence over a media conglomerate vital to American journalism and culture,” the senators wrote.
The letter was led by Sen. Maria Cantwell of Washington, the top Democrat on the Senate Commerce Committee, and co-signed by Sens. Edward J. Markey, Ben Ray Luján, John Hickenlooper, Andy Kim, and Elizabeth Warren….
Senators Push FCC Review of Foreign Funding in Paramount–WBD Deal
