Senators Push FCC to Pause Paramount-Warner Merger

Three Democratic senators—Cory Booker (N.J.), Adam Schiff (Calif.) and Elizabeth Warren (Mass.) wrote to FCC Chairman Brendan Carr on June 18, 2026, demanding the commission block Paramount’s $110-$111 billion acquisition of Warner Bros. Discovery. They gave a July 1 deadline for a formal notice that the deal cannot close until a full foreign-investment review is finished.

New York Post

Section 310 of the 1934 Communications Act caps foreign ownership of U.S. broadcast licenses at 25 percent. Paramount, led by CEO David Ellison, disclosed that Saudi Arabia’s Public Investment Fund, Abu Dhabi’s sovereign wealth fund and Qatar’s investment authority would hold about 49.5 percent of the combined company and seeks FCC permission for eventual 100 percent foreign ownership. The merger would unite CNN, CBS News and 28 broadcast stations.

New York Post

Approval would give foreign governments indirect influence over news outlets and broadcast infrastructure, raising censorship, press-freedom and national-security concerns. Consolidation would also cut competition, jobs and content diversity in a market “severely strained.”

The Hill

The senators urged the FCC to block any premature closing of the transaction. The DOJ found the deal “is not likely to result in harm to competition or American consumers.” Paramount argues the foreign stake “does not present any national-security, law-enforcement, foreign-policy, or trade-policy concerns.” Carr has not responded.

The Hill

An industry coalition warned that “this transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries—and the audiences we serve—can least afford it.” Attorneys general, led by California’s Rob Bonta, are preparing a lawsuit.

The Hill

DOJ antitrust clearance contrasts with the senators’ national-security concerns, creating a split between competition and security reviews. The FCC’s foreign-participation committee has not examined Paramount’s request for eventual 100 percent foreign ownership and lacks time before the July deadline.

Cord Cutters News

• “must foreclose any attempt by Paramount to close this transaction” — Cory Booker, Adam Schiff, Elizabeth Warren

New York Post

• “That review must rigorously assess the national security threats posed by foreign government investment in one of the nation’s largest news media companies,” — Cory Booker, Adam Schiff, Elizabeth Warren

The Hill

• “The Gulf sovereign wealth funds collectively represent the financial instruments of three foreign governments with distinct national interests and shared record of censorship and press suppression,” — Cory Booker, Adam Schiff, Elizabeth Warren

The Hill

• “This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries—and the audiences we serve—can least afford it,” — Industry coalition statement

The Hill

The FCC must answer by July 1; a denial could trigger a lawsuit from Paramount or coordinated challenges from state attorneys general. If approved, the parties still face a “ticking fee” for missing the September 30 deadline while the foreign-investment review proceeds.

New York Post