Democratic leaders want the Paramount-Warner Bros. merger to be put on hold until July 1

Three Democratic senators have urged the Federal Communications Commission (FCC) to stop the Paramount-Warner Bros. merger. Discovery because of concerns about foreign investors controlling what could be one of the largest media companies in the United States.

In a joint letter to FCC Chairman Brendan Carr, Sens. Cory Booker, D-NJ, Adam Schiff, D-Calif., and Elizabeth Warren, D-Mass., want to “stop any attempt by Paramount to close this transaction” before an adequate review of the foreign investors involved is completed.

Lawmakers say the FCC must conduct this review to assess “threats to national security posed by foreign government investment” in the $110 billion business. If approved, the merger would bring CNN and CBS News under one business owner, further unifying the news landscape.

Paramount, led by CEO David Ellison, acknowledged in an April financial disclosure cited by senators that foreign ownership in the new entity would rise to “approximately 49.5 percent.” In that document, Paramount also stated that all voting rights “will be controlled by the Ellison family through US entities.”

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The document stated that Saudi Arabia’s public investment fund and various organizations based in the United Arab Emirates and Qatar will own the equity.

Paramount told the FCC in April that the provision would not present “any national security, law enforcement, or foreign policy or trade concerns.”

The senators are calling for a more rigorous examination of what this level of foreign ownership would mean, telling Carr in their letter that he should not take the Ellison family’s statements “at face value.”

They argue that the FCC should deny Paramount’s request for preclearance. Under Section 310 of the Communications Act of 1934, foreign individuals, corporations and governments are generally prohibited from owning more than 25% of a US carrier with a broadcasting license issued by the FCC.

Paramount Studios signs in Los Angeles, California, on April 23, 2026. (Noah Suave/Getty Images)

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Booker, Schiff and Warren gave Carr a July 1 deadline to inform Paramount that the deal would not close until the foreign investment review was completed.

Pending FCC approval is a major regulatory hurdle in the merger’s path. The Justice Department signed last week that it will not challenge Paramount’s bid to acquire Warner Bros.

The antitrust division of the DOJ concluded after an eight-month review that “the conduct is likely to cause harm to competition or to American consumers” in terms of required broadcasting, the development of television series and studios, and the production and distribution of films.

Warren criticized the DOJ’s decision and urged state attorneys to continue to fight the project. California Attorney General Rob Bonta was already leading a coalition of states in preparing a lawsuit to block Paramount from adding Warner Bros. in its growing portfolio.

Federal Communications Commission Chairman Brendan Carr speaks on stage during Concordia’s 2025 Annual Conference at the Sheraton New York Times Square in New York City on September 22, 2025. (John Lamparski/Getty Images for Concordia Annual Summit / Getty Images)

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More than 5,000 filmmakers and actors working in Hollywood signed an open letter in April demanding an end to the union. They said that would prevent competition and reduce job opportunities.

“Our industry is already under great difficulty, mainly due to the waves of previous mergers. We have seen a significant decrease in the number of films produced and released,” according to the request. “We are deeply concerned about indications of support for this merger that prioritizes the interests of a small group of powerful stakeholders over the public good.”