Congressmembers Calls for Oversight of Foreign Influence in Potential Warner Brothers Discovery Deal

WASHINGTON, DC - Today, Congressman Sam Liccardo (CA-16)and Congresswoman Ayanna Pressley (MA-07) sent a letterto Warner Brothers Discovery (WBD) President and CEO David Zaslav and its board of directors voicing serious national security concerns over its reported acquisition deal with Paramount Skydance.

According to public reports, major foreign sovereign-wealth funds and investments from entities with documented ties to foreign governments are backing Paramount Skydance in its proposed bid. These investors include Emirati and Qatari funds, as well as Affinity Partners, a private equity fund founded by Jared Kushner and backed by a $2 billion investment from the Saudi Public Investment Fund, which Crown Prince Mohammed bin Salman controls. U.S. intelligence agencies have conclusively implicated Prince Salman in the brutal homicide of Washington Post journalist Jamal Khashoggi, to suppress dissent.

"As one of the most influential media companies in the world, Warner Brothers Discovery shapes America's news, entertainment, and cultural content like few companies on the planet," said Liccardo. "Equally important, the company has private financial and personal data of tens of millions of Americans. We cannot allow powerful-and brutal-foreign-backed investors access to this trove of personal data, and to obtain influence over our nation's news ecosystem, without full scrutiny mandated by the law."

Liccardo suggests the WBD should immediately file a notice with the Committee on Foreign Investment in the United States (CFIUS), the government entity tasked with oversight and investigation of foreign investment in U.S. companies. "CFIUS's mandate is clear: The Committee evaluates how foreign investment could harm U.S. national security and seeks to address those risks," the lawmakers wrote. "A transaction of this nature-combining a major media portfolio with foreign-backed capital-plainly warrants that scrutiny."

"Shareholders deserve a full accounting of the regulatory and reputational risks tied to this sale," Liccardo said. "Anything less could lead to significant congressional oversight and forced divestitures under a future administration."