Democratic senators raise alarm over foreign investment in Paramount, Warner Bros merger
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WASHINGTON, May 21 (Reuters) - A group of six Democratic senators on Thursday expressed serious concerns about planned foreign ownership interests in the proposed $111 billion Paramount-Warner Bros. Discovery merger.
Last month, Paramount Skydance PSKY.O asked the Federal Communications Commission to approve foreign investments backing its acquisition of Warner Bros. Discovery WBD.O. The senators raised concerns about Middle Eastern sovereign wealth funds and Chinese companies taking part.
"Foreign governments hostile to a free and independent press could exert unprecedented influence over a media conglomerate vital to American journalism and culture," said a letter signed by Senators Maria Cantwell, Ed Markey, Ben Ray Lujan and others.
