Liccardo to FCC: Paramount “Cannot Gaslight the American Public”

WASHINGTON, D.C. - Today, Congressman Sam Liccardo (CA-16) urged Federal Communications Commission Chairman Brendan Carr to deny Paramount Global's petition to allow nearly half of their stake in Warner Brothers Discovery to be made up of foreign investment.

Paramount currently seeks approval over 49.5 percent 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.

Liccardo warned that the proposal would place significant influence over American broadcast infrastructure in the hands of foreign authoritarian governments and entities tied to adversarial regimes.

"Congress 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," wrote Liccardo.

The letter argues that Paramount's proposed ownership structure conflicts with the spirit of Section 310 of the Communications Act, which restricts foreign control of American broadcast infrastructure. Liccardo also raised concerns that Tencent - identified in the letter as a U.S.-designated Chinese military company with ties to the Chinese Communist Party - would hold a substantial ownership stake under the proposal.

"The 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," wrote Liccardo.

Liccardo further criticized Paramount's request for authority to eventually permit up to 100 percent foreign equity ownership in its broadcast licensees, calling the company's characterization of the request as a "procedural maneuver" misleading.

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, if the Commission fails to uphold the intent of existing foreign ownership protections under federal law.

Full Letter Here.