00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Paramount Skydance asked the U.S. Federal Communications Commission
00:06to approve foreign investments backing its acquisition of Warner Bros. Discovery,
00:10according to filings made public Monday.
00:13A Paramount spokesperson said the filing is standard
00:16and not a condition for closing the deal, according to Reuters.
00:20FCC rules govern foreign ownership in U.S. television broadcasting.
00:24The company said current and expected foreign investors
00:27will own slightly less than 50% of its equity after the investments.
00:32The family of CEO David Ellison will retain control of voting shares.
00:36Paramount said last year that Saudi Arabia's public investment fund,
00:40Abu Dhabi's Limad Holding Company,
00:42and the Qatar Investment Authority agreed to support the proposed takeover.
00:46For all things money, visit Benzinga.com.
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