Paramount Skydance is seeking advance approval from the Federal Court (FCC) for the foreign backers of its deal to acquire Warner Bros. Discovery, which is valued at around $111 billion, could potentially increase their equity stakes or voting control in the company by up to 20% in the future. The deal, which represents one of the most highly leveraged transactions in history, has significant backing from foreign investors. Paramount previously stated that the Middle Eastern sovereign wealth funds backing its bid would forgo voting control to ensure the deal doesn't trigger any national security concerns. The FCC does not need to approve the request as a condition for Paramount to close its deal. The majority of the funding for the deal will be from the Middle East, with 77.8% of this funding coming from the United Arab Emirates, Qatar, and Saudi Arabia owning 12.8%, 10.6% and 15.1% of the total combined company.