FCC approves Gulf funds' stakes in Paramount takeover

On Thursday, 18 September 2026, the US Federal Communications Commission approved Paramount's request to allow sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates to hold indirect equity interests in a combined Paramount and Warner Bros. Discovery.

Saudi Arabia's Public Investment Fund, the UAE's L'imad Holding Company, and the Qatar Investment Authority committed a combined $24 billion to finance the transaction. The funds will hold non-voting indirect interests, and the FCC granted permission for up to 100% indirect foreign equity, surpassing the standard 25% threshold. David Brown, chief of the video division in the FCC Media Bureau, stated that granting access to capital serves the public interest and that investors cannot exercise control over broadcast stations.

Paramount stated that the family of CEO David Ellison and RedBird Capital will remain majority owners of the merged group. The $81 billion merger, valued at nearly $111 billion including debt, remains on hold pending antitrust lawsuits brought by 12 states and the Writers Guild of America, which are scheduled for trial in March.