US Lets Gulf Funds Own Almost Half of Combined Paramount-Warner Bros.

America's TV regulator has let investment funds from Saudi Arabia, Qatar and Abu Dhabi own almost half — 49.5% — of the combined Paramount-Warner Bros. company if the two join together. That is about twice the normal 25% foreign limit for TV owners. Paramount runs 28 local TV stations over public airwaves, which is why approval was needed.