FCC waives foreign ownership cap, lets Gulf sovereign funds hold 49.5% of Paramount

The FCC under Chair Brendan Carr has approved a waiver of its 25% foreign equity ownership limit in connection with the Paramount-Warner Bros. deal. The decision allows sovereign wealth funds controlled by the governments of Saudi Arabia, Qatar, and Abu Dhabi to collectively hold a 49.5% stake in the merged media company. Critics have noted a contrast with the Carr FCC's aggressive scrutiny of domestic broadcasters, including repeated threats against ABC and attempts to restrict airings of Democratic interviews. The commission defended its ruling, though details of that justification were not fully disclosed. The move raises questions about the FCC's priorities regarding foreign influence over major American media conglomerates.