US Senators urge FCC to halt Paramount-Warner merger

Three Democratic senators – Cory Booker, Adam Schiff and Elizabeth Warren – sent a joint letter to FCC Chairman Brendan Carr urging the commission to prevent the $110 billion Paramount‑Warner Bros. Discovery merger from closing until a foreign‑ownership review is completed. The deal would give foreign investors, including sovereign‑wealth funds from Saudi Arabia, the United Arab Emirates and Qatar, roughly 49.5% indirect equity in the combined company, well above the 25% threshold for U.S. broadcast license owners.

The senators request a formal notice that the merger cannot close while the review is pending, full public disclosure of all foreign investment documents, and a public‑facing finding on any national‑security concerns. They argue that even non‑voting shares held by Gulf funds could pose risks and ask the FCC to reject Paramount’s petition for up to 100% foreign ownership. The Department of Justice has cleared the merger on antitrust grounds, but state attorneys general and industry groups are preparing legal challenges.