FCC’s Gomez Criticizes Paramount Settlement
FCC Commissioner Anna M. Gomez released a statement critical of the settlement between Paramount and state attorneys general over the acquisition of Warner Bros. Discovery. She wrote, “I am disappointed that this settlement appears to pave the way for yet 
another massive media consolidation deal that could raise prices for consumers, reduce content diversity, and weaken editorial independence. This settlement does nothing to resolve the FCC’s own unprecedented decision to approve near complete and unchecked indirect foreign ownership of one of America’s largest media companies from some of the most repressive governments in the world. Setting aside that worrisome arrangement, this transaction still represents a troubling new stage of media consolidation, with real consequences for consumers and for a free and independent press. The editorial independence protections included in this settlement remain untested, and there is good reason to be skeptical they will hold up once the ink is dry. Whether these commitments actually protect newsrooms inside CBS and CNN from political, financial, or regulatory pressure, or simply provide cover for further editorial interference, remains to be seen. I will be watching closely to see whether these promises translate into real protections or will be just words on a page.”
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.