A group of Democratic lawmakers are sounding the alarm about foreign investors backing Paramount Skydance‘s $111 billion proposed deal to acquire Warner Bros. Discovery.
The senators, in a letter to the FCC on Monday, called for a “full and independent” probe of the merger, citing concerns that financing from Middle Eastern sovereign wealth funds and Chinese gaming giant Tencent could give them influence over editorial decisions at CBS News and CNN.
“This constellation of foreign investment from China and from Gulf states, with complex and sometimes competing relationships with the United States, demands rigorous, not perfunctory, review,” the letter reads.
Saudia Arabi’s Public Investment Fund, the Qatar Investment Authority and Abud Dhabi Investment Authority are collectively providing roughly $24 billion in funds to help bankroll…
