Paramount has noted it will be 49.5%-owned by non-U.S. investors after completing a planned merger with Warner Bros. Discovery.
The stat came to light in a request Monday by Paramount for approval of the foreign ownership stake by the Federal Communications Commission. The company said the arrangement, including a 24% holding shared by three Middle East investment funds, will give the combined company “greater access to capital.” The infusion of financial resources will enable Paramount to “compete more effectively in the provision of television broadcast services and in the broader video programming marketplace,” the filing said.
Paramount has repeatedly noted that the non-U.S. stakeholders have no voting control and are passive backers, making the scenario less dire than the one portrayed by critics. The fact that both CBS News and CNN will be under the new corporate roof, however, makes the involvement of Saudi Arabia and other
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