Gomez Urges Review of Paramount-Warner Bros. Merger
FCC Commissioner Anna M. Gomez is calling on the FCC to “conduct a full, independent, and rigorous review of the foreign ownership interests embedded in the proposed Paramount-Warner Bros. Discovery merger.” Noting that under federal law, foreign governments and their representatives are prohibited from owning the licenses of CBS’s television stations and any indirect foreign ownership above 25% 
requires Commission approval after a serious look into whether that arrangement serves the American public and protects our national security. Gomez states, “The American public deserves to know who owns the airwaves that carry their news. I am alarmed by what appears to be an effort to rubber stamp a financial structure that places nearly half of one of America’s largest broadcast and media companies into the hands of foreign governments with documented records of press suppression and a troubling willingness to silence journalists. There are serious, unresolved questions about how this foreign investment may jeopardize national security, and this Commission has a legal obligation to answer them before handing wealthy friends of this administration yet another Billionaire Buddy Bypass on a transaction that strikes at the heart of American journalism.” In her statement, Gomez points out that this deal involves sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi investing in a company that controls CBS broadcast stations, as well as major cable news operations including CNN. According to Paramount’s own filing, total foreign ownership of the combined company upon closing would reach approximately 49.5 percent. Nearly half of one of America’s largest broadcast and media companies would be in foreign hands.
announced. Neuhoff states in announcing the sale that this “transaction is part of an overall strategic decision on behalf of the Neuhoff family to depart the broadcast industry after nearly 70 years,” according to Julian Hickman and Makena Neuhoff, trustees of the Neuhoff family. The company still owns 13 radio brands spread across the Springfield, Illinois; Bloomington, Illinois; and Lafayette, Indiana markets and it “expects to make additional announcements regarding future agreements as the Neuhoff divestiture process moves forward.” Hickman states, “We are proud of what broadcast ownership has meant to our family, our employees, and the markets we serve. Our grandfather, Roger Neuhoff, began his ownership in the business during the mid-1950s. He loved the broadcast industry and was proud of the way our radio and television stations served their local communities.” Neuhoff Media president Mike Hulvey adds, “We are pleased to see the iconic local media brands of Neuhoff Media’s Danville and Decatur markets all brought together through this historic transaction with the Champaign Multimedia Group. The next chapter for the Danville and Decatur radio stations and digital platforms will create something very special for each community.” Kalil & Co., Inc. acted as the exclusive broker for this transaction.
San Francisco will now be available on the Audacy app. CBS Stations says that CBS Local’s video streaming services are No. 1 overall in markets where they go head-to-head with other network competitors, according to data from Comscore. Audacy SVP digital audio content Tim Clarke comments, “We are thrilled to announce our strategic partnership with CBS Stations, expanding our commitment to delivering high-quality, locally relevant content to our listeners. This collaboration will give our listeners unparalleled access to timely and trusted news from major cities nationwide.”