KEI-CFIUS-Paramount-Global-22April2026
I. PETITION
Knowledge Ecology International (KEI) respectfully petitions the Committee on Foreign Investment in the United States (“CFIUS” or the “Committee”), pursuant to Section 721 of the Defense Production Act of 1950, as amended (50 U.S.C. § 4565) and 31 C.F.R. Part 800, to:
- Initiate a review and investigation of the foreign investments described below as a non-notified covered transaction under 50 U.S.C. § 4565(b)(1)(E);
- Determine that the transaction constitutes a foreign government-controlled transaction under 50 U.S.C. § 4565(b)(2)(B) and 31 C.F.R. § 800.244; and
- Recommend that the President of the United States block, suspend, or require divestment of the transaction pursuant to 50 U.S.C. § 4565(d), or impose mitigation measures sufficient to address the national security risks identified herein.
II. TRANSACTION AT ISSUE
Public reporting indicates that Paramount Global has secured approximately $24 billion in equity financing commitments from foreign sovereign investors to support a proposed acquisition of Warner Bros. Discovery, including control of major media assets such as CNN.
The reported investors include:
- Public Investment Fund (Saudi Arabia)
- Qatar Investment Authority (Qatar)
- L’imad Holding Co. (United Arab Emirates)
These entities are state-owned or state-directed sovereign wealth funds, and thus qualify as foreign government actors under 31 C.F.R. § 800.224.
The reported use of non-voting equity structures does not remove the transaction from CFIUS jurisdiction. Under 50 U.S.C. § 4565(a)(4)(B) and 31 C.F.R. § 800.211, minority investments constitute “covered investments” where they afford access, influence, or involvement in substantive decision-making.
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See PDF file for rest of petition.