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 Paramount’s bid for Warner Bros. Discovery, according to SEC filings.
Oh neat!
Saudi blood money and possibly Tencent, the best owners anyone could ever ask for.
Good thing that consumers are just flush with money these days, and will certainly be eager to keep paying subscription fees.
And if anything with this goes wrong, well, the US Private Equity/Private Investment sector isn’t like, going through a mass panic bankrun or anything like that, so there will definitely be a solid backup plan in case any of this funding turns out to be too fishy!
Contractual obligations.
plus: they expect it to continue losing them money.
plus plus: oh and the show is now being produced by a soon to be immensely indebted corporate entity that’s getting a massive management shake up.
https://www.msn.com/en-us/money/other/foreign-investments-in-paramount-warner-bros-deal-flagged-by-senators/ar-AA1Zf2Yb
Saudi blood money and possibly Tencent, the best owners anyone could ever ask for.
Good thing that consumers are just flush with money these days, and will certainly be eager to keep paying subscription fees.
And if anything with this goes wrong, well, the US Private Equity/Private Investment sector isn’t like, going through a mass panic bankrun or anything like that, so there will definitely be a solid backup plan in case any of this funding turns out to be too fishy!
(/s)