Apr. 28 at 1:05 AM
Paramount is seeking approval from the Federal Communications Commission for a financing structure that would allow major Persian Gulf sovereign-wealth funds to take a significant equity stake as part of its proposed
$81 billion acquisition of Warner Bros. Discovery.
In a filing submitted Monday, the David Ellison–led company said the transaction would result in foreign investors indirectly owning close to 50% of Paramount’s equity interests, through roughly
$24 billion in combined investment from three Middle East sovereign-wealth funds.
Paramount emphasized that the approval is necessary given its control of CBS and its 28 local television stations, which are subject to FCC foreign ownership rules.
$PSKY $WBD