Paramount is moving forward with its plan to acquire Warner Bros. Discovery, as it seeks approval from the Federal Communications Commission (FCC) for foreign investments tied to the deal.
In a filing made public this week, Paramount Global—working with Skydance—asked the FCC to allow international investors to hold a significant stake in the company.
The move is part of its broader effort to secure funding for the multibillion-dollar acquisition.
Under current rules, foreign ownership in US broadcast companies is limited, unless regulators determine the arrangement serves the public interest, Reuters reported.
A company spokesperson said the filing is a routine step and not a requirement to complete the acquisition.
Still, the request is important because foreign investors are expected to own close to half of Paramount's equity after the deal is finalized.
Despite that, control of voting shares will remain with the family of CEO David Ellison.
Paramount has asked the Federal Communications Commission to sign off on its equity investment from three prominent Middle East sovereign wealth funds that are backing the company’s $111 billion acquisition of Warner Bros. Discovery. https://t.co/ZkgCiUU77F
— The Hollywood Reporter (@THR) April 28, 2026
FCC Reviews Paramount's Foreign Investment Plan
The proposed investment includes backing from major international funds, such as Saudi Arabia's Public Investment Fund, Abu Dhabi-based L'imad Holding Company, and the Qatar Investment Authority.
According to BT, Paramount said allowing these investments would help reduce financial barriers and open the door for more global funding in the future.
Regulators are now reviewing the request. FCC Chair Brendan Carr indicated that the agency's role in the deal may be limited, noting that the type of foreign ownership involved could qualify under existing rules.
The acquisition itself is one of the largest in the media industry and has drawn attention because of its size and impact.
If approved, the deal would bring together major entertainment and broadcast assets under one company.
Paramount said this would help it compete better in a fast-changing market, especially as traditional TV networks face growing pressure from streaming services.
In its filing, the company explained that the added funding and expected cost savings from combining operations would "better position the company to weather continuing challenges" in the industry.
It also said the move could strengthen its broadcasting reach and improve long-term stability.
Experts note that deals of this scale often face close review, especially when foreign money is involved.
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