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US Senators Warn of Foreign Influence Risks in Paramount-Warner Bros Merger

By  |  May 22, 2026
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A group of six Democratic senators is urging U.S. regulators to closely examine foreign investment tied to the proposed $111 billion merger between Paramount and Warner Bros Discovery, warning that sovereign wealth funds and overseas investors could gain influence over a major American media company.

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    According to Reuters, the senators sent a letter late Wednesday to Federal Communications Commission Chair Brendan Carr expressing concern that foreign-backed investors from the Middle East and potentially China could hold interests in the combined media giant.

    “Foreign governments hostile to a free and independent press could exert unprecedented influence over a media conglomerate vital to American journalism and culture,” the lawmakers wrote in the letter, which was seen by Reuters.

    The letter was signed by Senator Maria Cantwell, the top Democrat on the Senate Commerce Committee, along with Senators Ed Markey, Ben Ray Lujan and other committee members. The committee oversees the FCC.

    Per Reuters, the lawmakers pointed specifically to sovereign wealth funds from Saudi Arabia, Qatar and Abu Dhabi that are expected to support Paramount’s acquisition effort. They also referenced reports that Chinese technology company Tencent could participate in the investment structure.

    The senators warned that the merged company would oversee a wide range of influential media assets, including CBS television stations, CNN, HBO, Paramount film and television studios, and numerous cable networks.

    Related: Paramount Tells California Officials Proposed Warner Bros. Discovery Deal Would Strengthen Theater Business

    Last month, Paramount Skydance asked the FCC to approve foreign investments backing the transaction. According to Reuters, the company said the Ellison family, including Paramount CEO David Ellison, would retain control of voting shares after the merger.

    The lawmakers asked regulators what assurances had been provided by Saudi Arabia’s Public Investment Fund, Abu Dhabi-based L’imad Holding Company, Qatar Investment Authority and Tencent “that they will not attempt to influence the editorial, journalistic, or content decisions at Paramount.”

    Carr told reporters Wednesday that the FCC had opened a public comment process regarding Paramount’s request and noted that the deal would also face scrutiny from the Committee on Foreign Investment in the United States (CFIUS), which reviews foreign investments for potential national security risks.

    “We urge you to conduct a rigorous and thorough review of the foreign investment in Paramount, its impact on editorial independence, and its implications for U.S. national security,” the senators wrote.

    The FCC did not immediately respond to requests for comment, according to Reuters.

    Paramount disclosed last year that Saudi Arabia’s Public Investment Fund, Qatar Investment Authority and Abu Dhabi-based L’imad Holding Company had agreed to help finance the proposed takeover of Warner Bros Discovery.

    Per Reuters, the FCC approved CBS-parent Paramount’s earlier tie-up with Skydance Media in July of last year.

    Source: Reuters