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Erik Gruenwedel<\/a><\/p>\n May 1, 2026<\/p>\n U.S. House Rep. Sam Liccardo (D-CA) May 1 sent a letter to Federal Communications Commission Chairman Brendan Carr asking him to deny Paramount Skydance\u2019s petition to allow nearly half of its stake in Warner Brothers Discovery to be made up of foreign investment.<\/p>\n Paramount currently seeks approval over 49.5% in direct foreign equity ownership in FCC-licensed broadcast television stations, including substantial stakes held by sovereign wealth funds affiliated with Saudi Arabia, Abu Dhabi and Qatar.<\/p>\n Paramount Skydance would hold a 50.5% ownership stake controlled by CEO David Ellison and his father, Oracle founder Larry Ellison, and investment firm RedBird Capital Partners, among others.<\/p>\n The younger Ellison has publicly stated that stake would include 100% voting rights.<\/p>\n Liccardo, nonetheless, warned that the deal would place significant influence over American broadcast infrastructure in the hands of foreign authoritarian governments and entities tied to adversarial regimes.<\/p>\n \u201cCongress did not entrust the public airwaves to this agency so that it could auction off America to Riyadh, Abu Dhabi, and Doha. This will not stand,\u201d\u00a0wrote Liccardo.<\/p>\n The letter argues that Paramount\u2019s proposed ownership structure conflicts with the spirit of Section 310 of the Communications Act, which restricts foreign control of American broadcast infrastructure.<\/p>\n Liccardo also raised concerns that Tencent \u2014 identified in the letter as a U.S.-designated Chinese military company with ties to the Chinese Communist Party \u2014 would hold a substantial ownership stake under the proposal.<\/p>\n \u201cThe Commission must not allow a legal technicality to launder what is, in substance, a surrender of American media and infrastructure to the hands of foreign authoritarian regimes,\u201d Liccardo wrote.<\/p>\n The lawmaker further criticized Paramount\u2019s request for authority to eventually permit up to 100% foreign equity ownership in its broadcast licensees, calling the company\u2019s characterization of the request as a \u201cprocedural maneuver\u201d misleading.<\/p>\n The letter urges the FCC to conduct a full public interest and national security review before taking any action on the petition and warns Congress will pursue legislative remedies, including mandatory retroactive review,\u00a0 if the FCC fails to uphold the intent of existing foreign ownership protections under federal law.<\/p>\n Subscribe HERE to the FREE Media Play News Daily Newsletter!<\/a><\/p>\n Related Posts<\/p>\n Paramount Loses Legal Attempt to Fast-Track WBD Lawsuit<\/a><\/p>\n A federal judge Jan. 15 refused to fast-track a lawsuit filed by Paramount Skydance against Warner Bros. Discovery alleging the media giant’s board has misled WBD shareholders on the value of Netflix’s accepted $82.7 billion offer for the company’s streaming\u2026<\/p>\n![\"\"](\"https:\/\/www.europesays.com\/people\/wp-content\/uploads\/2026\/05\/samLiccardo-225x300.jpg\")
U.S. House Rep. Sam Liccardo (D-CA)<\/p>\n