US Senators Raise National Security Concerns Over Paramount Merger

WASHINGTON, DC– Democratic US senators have raised national security and press freedom concerns over a proposed media merger that could allow sovereign wealth funds from Saudi Arabia, the United Arab Emirates and Qatar to acquire major stakes in Paramount Global and its broadcast television assets, including CBS-owned stations and potentially CNN.

In a letter to Federal Communications Commission (FCC) Chairman Brendan Carr, six Democratic senators led by Maria Cantwell and Ben Ray Luján urged a “rigorous and thorough review” of Paramount Global’s request to authorize foreign investors to own between 49.5 per cent and 100 per cent of the equity in its FCC-licensed television stations.

The senators said the proposed financing structure is tied to a planned $111 billion merger involving Paramount Global, Skydance Media and Warner Bros. Discovery, which would combine major US media assets including CBS and CNN.

“The scale, concentration, and scope of this proposal raise serious questions,” the senators wrote. “Foreign governments hostile to a free and independent press could exert unprecedented influence over a media conglomerate vital to American journalism and culture.”

The lawmakers argued that the proposal exceeds the 25 per cent foreign ownership cap set under Section 310 of the Communications Act for broadcasters, which was designed to prevent foreign influence over US media outlets.

The letter named Saudi Arabia, the UAE and Qatar, accusing those governments of suppressing independent media in their own countries. “If the filing is approved, Saudi, UAE, and Qatari sovereign investment funds would have significant influence over some of the most influential news organizations in the United States,” the senators wrote.

The letter also raised concerns over reports that Tencent, identified by the Pentagon as linked to the Chinese military, could take an equity stake in the merged company. “Allowing our most significant global adversary to partly own Paramount or a combined new entity that will own CNN and CBS News would risk our national security,” the senators said.

The lawmakers also questioned Carr’s impartiality, citing his earlier comments that the FCC review would “get through pretty quickly” and describing the transaction as a “good deal”. They demanded that the matter be reviewed by the full Commission rather than through staff-level approval.

The FCC has historically imposed strict limits on foreign ownership in US broadcasting because television and radio stations are considered strategic communication assets. (IANS)