FCC approves 49.5% foreign equity in combined Paramount-WBD

FCC approved Paramount's petition to allow foreign entities to hold 49.5% of equity, meaning a financial stake, once Warner Bros. Discovery deal completes, Variety reported. Clearance was required because Paramount owns 28 TV stations, triggering review above 25% foreign ownership. Ellison family and RedBird will hold 100% voting stock.