Sanders Denounces FCC Approval of 49.5% Foreign Stake in Paramount-Warner Bros. as Merger Faces Trial
Updated
Updated · Common Dreams · Sep 18
Sanders Denounces FCC Approval of 49.5% Foreign Stake in Paramount-Warner Bros. as Merger Faces Trial
3 articles · Updated · Common Dreams · Sep 18
Summary
Bernie Sanders blasted the FCC after it approved a plan allowing 49.5% foreign ownership in a merged Paramount-Warner Bros., including 38.5% tied to funds in Qatar, Saudi Arabia and the UAE.
The approval lets foreign investors exceed the usual 25% cap, with FCC staff concluding the structure served the public interest even as critics warned it could give authoritarian governments leverage over CBS, CNN and other outlets.
Anna Gomez, the FCC's lone Democratic commissioner, said the agency bypassed a full public vote and called the ruling a staff-level decision with little accountability.
Paramount said the Ellison family and RedBird would still control 100% of voting shares, but opponents argued nonvoting equity can still shape editorial decisions because the FCC's anti-interference conditions are hard to enforce.
The broader $111 billion merger remains on hold amid challenges from state attorneys general and unions, with a trial set to begin in March.