PSKY Seeks FCC Approval of Foreign Investments

Paramount Skydance has formally asked the FCC to approve foreign investments supporting its planned acquisition of Warner Bros. Discovery, according to regulatory filings made public Monday.

The filing is standard procedure for such transactions and is not required for the deal to close, a Paramount spokesperson said. FCC rules regulate foreign ownership in U.S. television broadcasting.

David Ellison

Current and expected foreign investors would own slightly less than 50% of Paramount’s equity after the investments. However, the family of Paramount CEO David Ellison would retain control of voting shares, the company stated in the filing.

Paramount disclosed last year that Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi’s L'imad Holding Company, and the Qatar Investment Authority (QIA) had committed to back the Warner Bros. Discovery takeover.

Approval from the FCC would lower barriers to additional foreign capital, helping Paramount expand its television broadcast operations. The company said the new equity and expected cost savings from the Skydance merger would better equip it to handle ongoing industry challenges for broadcasters and linear pay-TV networks.

The FCC approved Paramount’s merger with Skydance Media in July 2025. FCC Chair Brendan Carr recently told Reuters that the commission’s role in the Warner Bros. deal would be limited, noting that the foreign ownership structure appears to qualify as bona fide debt under FCC rules.