Article in The Wrap by Lucas Manfredi, 6/19/265
Headline: “Senators Urge FCC to Prevent Paramount-WB Merger From Closing During Pending Foreign Ownership Review”
Subhead: “Foreign investors would control 49.5% of the combined company’s equit”
“Three Democratic Senators are urging FCC Chairman Brendan Carr to prevent the $110 billion Paramount-Warner Bros. Discovery merger from closing until its pending foreign ownership review can be completed.
Paramount has maintained that the “indirect foreign ownership of equity interests” in the combined company will be 49.5% and will not result in a transfer of control. However, it has asked the FCC to allow foreign investors “in the aggregate to indirectly hold up to 100 percent of its equity and/or voting interests in light of routine fluctuations in publicly held equity interests and to account for potential future investments.”
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