00:00It's Benzinga, bringing Wall Street to Main Street.
00:02The Federal Communications Commission approved Paramount Skydance's request
00:05to allow foreign investors to back its $110 billion acquisition of Warner Brothers Discovery,
00:11according to Reuters. The FCC waived its 25% cap on foreign equity ownership but barred foreign
00:17investors from holding voting stock or influencing content, management, or access to non-public
00:21U.S. citizen data. Individual foreign investors can own up to 20% of the equity. Paramount said
00:27the Ellison family and Redbird Capital Partners will collectively hold the largest equity stake
00:32and 100% of voting shares after closing. The FCC previously approved the merger,
00:37but a U.S. judge temporarily blocked the takeover pending a March trial
00:41over a challenge filed by 12 states. For all things money, visit Benzinga.com.
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