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FCC approves Gulf sovereign funds to hold nearly half of Paramount's equity

Saudi Arabia's PIF, Qatar's QIA, and an Abu Dhabi fund will hold non-voting Class B shares in the combined Paramount-Warner Bros. entity

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Paramount $PARA Global received approval Thursday from the Federal Communications Commission for three Middle Eastern sovereign wealth funds to hold 49.5% of its equity in connection with its proposed acquisition of Warner Bros. Discovery.

The FCC's Media Bureau granted the declaratory ruling, which allows Saudi Arabia's Public Investment Fund, Qatar's Qatar Investment Authority, and Abu Dhabi's L'imad Holding Company to indirectly hold non-voting Class B shares in Paramount Skydance Corporation. The ruling also grants advance approval for each of the three investors to increase their........

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