US Regulator Lets Foreign Funds Own Almost Half of Paramount-Warner Bros.

On Sept. 17, the FCC, which oversees U.S. TV licenses, set aside its normal 25% limit on foreign ownership. That lets government investment funds from Saudi Arabia, Qatar and Abu Dhabi own 49.5% of the combined Paramount-Warner Bros. company, as a financial stake in the parent company that holds the licenses under a rule called Section 310(b)(4).