Investing.com — Paramount Global (NASDAQ: PARA) shares dropped 1.5% following comments from Congressman John Moolenaar, who called for a review of the company’s merger with Skydance Media by the Committee on Foreign Investment in the United States (CFIUS). The lawmaker’s concerns stem from the involvement of China’s Tencent Holdings Ltd (F:)., a recent addition to a U.S. military blacklist, in the deal.
According to Bloomberg, Moolenaar, who chairs the House China Select Committee, expressed worries on Wednesday regarding potential Chinese influence on the American entertainment industry through Tencent’s stake in Skydance. He cited instances of self-censorship within Hollywood to appease the Chinese Communist Party and urged CFIUS to examine the merger closely.
Paramount, which owns CBS, announced its merger agreement with film and TV producer Skydance Media in July. The scrutiny comes at a time when the U.S. Department of…
