Media giant Paramount Skydance has submitted paperwork to federal regulators requesting approval for international funding that would support its planned purchase of Warner Bros Discovery, according to documents released Monday.
The filing with the Federal Communications Commission represents a routine step for deals involving foreign investment, a company representative explained. The spokesperson emphasized that this regulatory approval is not required before the Warner Bros acquisition can be completed.
Under federal broadcasting regulations, the FCC must review foreign ownership stakes in American television companies. In this case, international investors would hold just under 50% of Paramount’s ownership following the investment, while the Ellison family would retain control through voting shares, the filing indicates.
The entertainment company announced last year that three major Middle Eastern sovereign wealth funds have committed to financing the proposed Warner Bros takeover. These include Saudi Arabia’s Public Investment Fund, Abu Dhabi’s L’imad Holding Company, and the Qatar Investment Authority.
The regulatory filing represents another step forward in what has become one of the entertainment industry’s most closely watched merger attempts in recent years.
