Democratic Senators Demand FCC Conduct Foreign Investment Review of Paramount-Warner Bros. Deal Over Backing by Middle Eastern Funds, China’s Tencent

By Todd Spangler

Todd Spangler

NY Digital Editor

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The FCC must conduct a “thorough review” of the foreign investors backing Paramount Skydance‘s $111 billion proposed deal to acquire Warner Bros. Discovery, seven Democratic senators said in a letter addressed to agency chairman Brendan Carr.

The senators, led by Sen. Cory Booker (D-N.J.), expressed “deep concern” that sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates, as well as Chinese gaming and internet giant Tencent “are providing billions in financing for the merger.” The deal would give Paramount Skydance ownership of WBD properties including CNN, HBO Max and Warner Bros.’s movie and TV studios.

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