FCC drops 25% foreign ownership limit for Paramount-Warner Bros deal

The FCC repealed the rule limiting foreign ownership to 25% and allowed three sovereign funds from Saudi Arabia, Qatar and Abu Dhabi to own 49.5% of the combined Paramount-Warner Bros. The commission cited the shares' lack of voting rights, but Free Press and Democrats criticized the decision.

• FCC repealed the 25% foreign ownership limit for the Paramount-Warner Bros deal
• Three sovereign funds to get 49.5% of the company without voting rights
• Free Press and Democrats cited risk to editorial policy
• Commissioner Anna Gomez called the decision a threat to media independence