Updated

The FCC, under Chairman Brendan Carr, has approved a waiver allowing sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to collectively acquire a 49.5% equity stake in Paramount, the parent of CBS and Warner Bros., despite rules normally capping foreign ownership at 25%. The decision rejected concerns raised about authoritarian governments gaining influence over a major US media company. Critics have pointed to what they see as inconsistency in the FCC's priorities, noting the agency has aggressively pursued content-related complaints against broadcasters like ABC and pressured stations over political programming, while showing little concern about foreign government ownership of a major news outlet.