Democratic Lawmakers Warn Warner Bros. Discovery Of National Security Concerns In Paramoun

December 10, 2025

Two Democratic lawmakers are raising concerns with Warner Bros. Discovery CEO David Zaslav over the national security implications of Paramount‘s bid, which includes the Saudi Public Investment Fund and other Middle East investors.

Rep. Sam Liccardo (D-CA) and Rep. Ayanna Pressley (D-MA) wrote in a letter to Zaslav, “This transaction raises national security concerns because it could transfer substantial influence over one of the largest American media companies to foreign-backed financiers. If Warner proceeds with any transaction involving foreign sovereign or state-linked investors, we demand that the company immediately file a notice with the Committee on Foreign Investment in the United States (CFIUS) and submit the transaction for a full national security review.”

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A spokesperson for WBD declined comment.

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The lawmakers are the latest on Capitol Hill to raise concerns about the pending consolidation. Figures like Sen. Chris Murphy (D-CT) and Sen. Elizabeth Warren (D-MA) have come out against both the Paramount bid and the Netflix deal. Sen. Mike Lee (R-UT), has spoken out on the Netflix-WB combination.

On Friday, Netflix announced its agreement to buy Warner Bros. film and TV assets, streaming service HBO Max and HBO itself. Paramount launched a hostile takeover on Monday, with the board of Warner Bros. Discovery is reviewing the Paramount offer.

The lawmakers, who are members of the House Financial Services Committee, cited Paramount investors including “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 Fund23. The fund is controlled by Crown Prince Mohammed bin Salman, whom (according to the declassified 2021 report of the U.S. Director of National Intelligence) ordered the murder of U.S. resident and Washington Post journalist Jamal Khashoggi.”

They added, “These investors, by virtue of their financial position or contractual rights, could obtain influence—direct or indirect—over business decisions that bear upon editorial independence, content moderation, distribution priorities, or the stewardship of Americans’ private data. Even absent overt control, such influence can present a national-security threat when foreign state-linked entities have strategic interests inconsistent with those of the United States.”

The lawmakers wrote that “should Warner pursue negotiations with Paramount Skydance or any other buyer financed by foreign sovereign investors, the company will file a voluntary notice with CFIUS prior to executing any binding agreement. Moreover, if CFIUS identifies risks requiring mitigation, we expect Warner to commit to implementing those measures in full and to inform shareholders, Congress, and the public of the steps taken to safeguard national security.”

Because Democrats do not control Congress, they have limits to their oversight authority. But the lawmakers hinted at the issue of the foreign investment coming up if Democrats take control of the House next year.

“Future Congresses, moreover, will review many of the decisions of the current Administration, and may recommend that regulators push for divestitures, which would undermine the strategic logic of this merger,” they wrote.