Dem senators urge FCC to pause Paramount-Warner Bros Discovery merger over foreign investor concerns
Senators Adam Schiff, Cory Booker, and Elizabeth Warren have urged the FCC to pause the Paramount-Skydance and Warner Bros. Discovery merger for a national security review. Simultaneously, the UK government has signaled it is likely to intervene in the deal over competition and media plurality. The transaction faces additional opposition from archival producers and state attorneys general.
What changed
New reports indicate the UK government is likely to intervene and that the deal faces opposition from archival producers and state attorneys general.
Live updates
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US Senators and UK Government Challenge Paramount-Warner Bros. Discovery Merger
confidence 90%Senators Adam Schiff, Cory Booker, and Elizabeth Warren have urged the FCC to pause the Paramount-Skydance and Warner Bros. Discovery merger for a national security review. Simultaneously, the UK government has signaled it is likely to intervene in the deal over competition and media plurality. The transaction faces additional opposition from archival producers and state attorneys general.
What's confirmed:
- Senators Adam Schiff, Cory Booker, and Elizabeth Warren wrote to FCC Chair Brendan Carr requesting a full national security review under the Communications Act.
- UK Culture Secretary Lisa Nandy stated she is "minded to intervene" in the proposed takeover.
- The British government intends to have regulators assess the merger based on competition and media plurality.
- Lisa Nandy set a 6 July deadline for the companies to respond to her concerns.
Still unconfirmed:
- L.A. County warns the deal risks archival production.
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Democratic Senators Urge FCC to Halt Paramount-Warner Bros. Merger
confidence 90%Senators Cory Booker, Adam Schiff, and Elizabeth Warren have requested that FCC Chair Brendan Carr block the closing of the Paramount-Skydance and Warner Bros. Discovery merger. They cite national security risks stemming from foreign financing that could reach nearly 49.5% ownership. The senators are calling for a full national security review under the Communications Act.
What's confirmed:
- Senators Cory Booker, Adam Schiff, and Elizabeth Warren urged FCC Chair Brendan Carr to pause the Paramount-Warner Bros. Discovery merger.
- The senators cited national security and foreign-policy risks linked to financing that shows nearly 49.5% foreign ownership.
- The deal is valued at approximately $110 billion.
- The Justice Department approved the merger, stating it would not harm consumers or competition.
Still unconfirmed:
- Top DOJ officials cleared the merger before staff lawyers who were leaning toward an antitrust lawsuit could object.
- Paramount alleges that antisemitism is part of the opposition to the merger.
- Netflix is targeting the merger.
- Chinese regulators have cleared the merger.