The saga of the Paramount-Warner Bros. Merger that not many people seem to want other than one failson and his billionaire daddy continues.
The rule states that foreign entities can only own up to 25 percent of media companies that broadcast on public airwaves, and Paramount owns 28 TV such stations.
Three Gulf states will own nearly half of Paramount-Warner Bros. If this merger goes through.
The petition asked the FCC for permission to allow foreign entities to own up to 100 percent of Paramount-Warner Bros. Which was granted.
The Paramount-Warner Bros. Merger is still up in the air pending an antitrust suit filed by California and 11 other states.
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Three Gulf states will own nearly half of Paramount-Warner Bros. If this merger goes through.
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This is despite a pre-existing rule that limits foreign equity ownership to 25 percent.
The saga of the Paramount-Warner Bros. Merger that not many people seem to want other than one failson and his billionaire daddy continues. The Federal Communications Commission just announced that it's waiving its own rules regarding foreign equity ownership, according to a report by The Verge.
The rule states that foreign entities can only own up to 25 percent of media companies that broadcast on public airwaves, and Paramount owns 28 TV such stations. Fortunately for David and Larry Ellison, the non-political FCC has decided to allow a stake of 49.5 percent by a trio of wealth funds coming from the governments of Saudi Arabia, Qatar and Abu Dhabi. Three Gulf states will own nearly half of Paramount-Warner Bros. If this merger goes through.
NEWS: The FCC approved Paramount's request to let foreign investors own more than 25% of its equity, clearing a regulatory hurdle tied to its WBD purchase.
The petition asked the FCC for permission to allow foreign entities to own up to 100 percent of Paramount-Warner Bros. Which was granted.
"Ellison, legal fixer Makan Delrahim, and other Paramount mouthpieces are speed-running through the four stages of corporate grief: abandonment, astroturf, antisemitism and assholery."
Since Trump got elected, Brendan Carr and his organization has repeatedly threatened channels for airing stuff it didn't like, tried to block stations from platforming people it didn't like, censored late-night TV hosts and tried to bully journalists.
The Paramount-Warner Bros. Merger is still up in the air pending an antitrust suit filed by California and 11 other states.
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