FCC APPROVES PARAMOUNT SELLING 49.5% STAKE TO GULF STATES

Paramount Global can now proceed with selling 49.5% equity to PIF Saudi Arabia, the Abu Dhabi Investment Authority, and the Qatar Media Corporation. The deal values Paramount at approximately $16 billion. The FCC's decision came after the agency received concerns from advocacy groups warning that the foreign investment could compromise editorial independence and journalistic standards at CBS News. Critics argued that the involvement of governments with records of restricting press freedom posed national security risks. The commission determined that national security concerns did not outweigh the transaction. The approval allows the Gulf entities to become Paramount's largest stakeholders while Shari Redstone's National Amusements retains operational control with a smaller ownership stake. Paramount previously announced plans to merge with Skydance Media, with the Gulf investment positioned to fund the deal. The transaction marks one of the largest foreign investments in major U.S. media assets in recent years.