FCC Commissioner Anna Gomez has called for a thorough review of foreign investments in Paramount's proposed merger with Warner Bros. Discovery. The deal would result in 49.5% foreign ownership, including significant stakes from Saudi Arabia, Qatar, and Abu Dhabi. Gomez expressed concerns over national security and press freedom.
The sole Democrat on the Federal Communications Commission, Anna Gomez, issued a statement on May 5 urging the agency to closely examine foreign investments tied to Paramount's planned merger with Warner Bros. Discovery. Paramount has disclosed that the combined company would have 49.5% foreign ownership, with 38.5% from investment funds in Saudi Arabia, Qatar, and Abu Dhabi. Ownership above 25% requires FCC approval, prompting Paramount's petition for a declaratory ruling deeming the structure in the public interest. A Paramount spokesperson declined to comment on Gomez's remarks. The company argues the investments will provide needed capital to compete effectively in broadcasting and video programming, without posing national security or foreign policy risks. It emphasizes that the Ellison family will retain majority voting control, leaving foreign investors without governance influence. Gomez highlighted risks, noting one investor, the Saudi Public Investment Fund controlled by Crown Prince Mohammed bin Salman, and referencing a 2021 U.S. intelligence report linking him to the murder of Washington Post journalist Jamal Khashoggi, which he denies. “The American public deserves to know who owns the airwaves that carry their news,” Gomez said. “There are serious, unresolved questions about how this foreign investment may jeopardize national security.” She called for coordination with national security agencies and public disclosure of investment agreements. The FCC is accepting public comments until May 27, with replies due June 11, and will consult executive branch agencies.
