FCC Waives 25% Cap to Let Gulf Funds Own 49.5% of Paramount-Warner Bros.

The FCC waived its 25% foreign equity limit to let sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi hold 49.5% of the combined Paramount-Warner Bros. company. The authorization issued Sept. 17 under Section 310(b)(4) covers economic ownership in the broadcast licensee parent.