CFIUS May Need to Review Acquisition of Warner Bros., Senators Say
Senate Banking Committee ranking member Elizabeth Warren, D-Mass., and Sen. Richard Blumenthal, D-Conn., have urged the Treasury Department to consider whether the proposed acquisition of media and entertainment conglomerate Warner Bros. Discovery should undergo a review by the Committee on Foreign Investment in the U.S.
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In a letter to Treasury Secretary Scott Bessent that was publicly released Dec. 16, the senators said they’re concerned that Paramount Skydance, one of three bidders, is reportedly funded by Saudi, Qatari and Abu Dhabi government investment funds.
If Paramount Skydance’s offer moves forward, “it could provide these foreign governments with significant control over both media content provided to Americans and Americans’ private financial and viewing data,” the letter said. “The American public deserves assurances that CFIUS is playing its role in reviewing whether these investments could pose a risk to U.S. national security and how best to address such risks.”
The letter asked Treasury to answer several questions, including what criteria CFIUS will use to determine if a review is required. Treasury and Paramount Skydance didn’t immediately respond to a request for comment.