The Federal Communications Commission cleared sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates to hold indirect equity interests in Paramount's proposed acquisition of Warner Bros. Discovery, including advance authorization for up to 100% indirect ownership. The funds have committed a combined $24 billion to finance the transaction, but Paramount says they will receive no voting stakes or governance rights, leaving the Ellison family and RedBird Capital Partners as majority owners of the combined company. The approval addresses foreign-ownership limits associated with Paramount's CBS network and U.S. broadcast stations. FCC Media Bureau video-division chief David Brown said the agency concluded that additional capital would strengthen the broadcast industry and that the investors could not influence station decisions. Anna Gomez, the FCC's sole Democratic Commissioner, criticized the staff-level ruling and warned that the investment could give foreign governments influence over media content. Paramount's merger remains on hold during antitrust litigation brought by California and 11 other states and a separate suit by the Writers Guild of America; trial is scheduled for March 2, 2027.