Senator Wants China’s Tencent Out of Paramount-Skydance Deal (1)

China’s Tencent Holdings Ltd. shouldn’t be allowed to own a piece of Paramount Global following the US company’s merger with Skydance Media, the head of the US Senate’s Intelligence Committee said in a letter Thursday to the Treasury Department.

Senator Tom Cotton, an Arkansas Republican, requested a security review of the deal in a letter to Treasury Secretary Scott Bessent, calling the transaction “troubling.”

Tencent, a Chinese company with ties to the communist party, reportedly owns up to 10% of Skydance “and likely will hold some ownership of the new company post-merger,” Cotton wrote.

The parties ...