The FCC has approved a waiver allowing sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi to own 49.5% of Paramount-Warner Bros., exceeding the usual 25% cap on foreign equity. The decision applies to the company formed by the Paramount and Warner Bros. merger.
Ars Technica reports the FCC rejected concerns that repressive governments could use the stake to buy influence over CBS, the broadcaster owned by the company. Engadget's coverage is more pointed, calling the outcome good news for the Ellisons and Saudi Arabia, but not for everyone else.
The Verge frames the decision through FCC Chair Brendan Carr, suggesting the commission is more concerned with programming choices such as The View interviews than with foreign government ownership. The sources agree on the basic facts but differ in emphasis: Ars Technica highlights the rejection of influence concerns, while Engadget and The Verge are more critical of the decision and its priorities.