foreign-ownership

Brendan Carr’s FCC is more worried about who The View interviews than foreign governments owning Paramount

The FCC has waived a long-standing 25% cap on foreign equity ownership to permit three sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to hold 49.5% of the combined Paramount-Warner Bros. company. The agency said the shares are nonvoting and therefore will not give the investors influence over licensed television stations, a rationale disputed by advocacy groups and at least one commissioner.