FCC · Saudi Arabia · Abu Dhabi · The Verge
Brendan Carr’s FCC is more worried about who The View interviews than foreign governments owning Paramount
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The commission is waiving its rules to let foreign wealth funds own 49.5 percent of Paramount-Warner Bros.
Key facts
- The FCC has announced it’s waiving its rules limiting foreign equity ownership to 25 percent in the Paramount-Warner Bros
- The commission is waiving its rules to let foreign wealth funds own 49.5 percent of Paramount-Warner Bros
- Anna Gomez, the FCC’s lone Democratic commissioner, posted on X, “The FCC let some of the most repressive governments in the world indirectly control nearly all of a combined Paramount-Warner Bros
- During Brendan Carr’s tenure, the FCC has repeatedly threatened ABC, tried to block stations from airing interviews with Democrats, censored late-night TV hosts, and tried to bully journalists
Summary
The FCC has announced it’s waiving its rules limiting foreign equity ownership to 25 percent in the Paramount-Warner Bros. case and will allow three sovereign wealth funds run by the governments of Saudi Arabia, Qatar, and Abu Dhabi to own 49.5 percent of the company. During Brendan Carr’s tenure, the FCC has repeatedly threatened ABC, tried to block stations from airing interviews with Democrats, censored late-night TV hosts, and tried to bully journalists. In its ruling, the FCC defended the decision, saying that, because the stocks being purchased did not have voting rights, they “will not be able to wield any influence, let alone control, over decisions involving the Licensees.” Of course, many, including the advocacy group Free Press and several Democrats, are not buying that.