Movie bosses ‘land $24 billion from Middle Eastern sovereign wealth funds for Warner Bros. Discovery takeover’
In a major development for the deal, Movie bosses are said to have landed commitments of nearly $24 billion from Middle Eastern sovereign wealth funds to support Paramount Skydance’s proposed takeover of Warner Bros. Discovery.
Movie bosses are said to have landed commitments of nearly $24 billion from Middle Eastern sovereign wealth funds to support Paramount Skydance’s proposed takeover of Warner Bros. Discovery.
The deal, which would see Paramount Global acquire Warner Bros. Discovery – a company with an enterprise value of $111 billion – is awaiting regulatory approval, with both sides indicating they expect completion by the end of the third quarter of 2026.
According to a report by the Wall Street Journal, Saudi Arabia’s Public Investment Fund has now committed about $10 billion towards the deal, with sovereign funds from Qatar and Abu Dhabi reportedly providing the remainder of the financing.
Warner Bros. Discovery has scheduled a special shareholders’ meeting for 23 April to vote on the transaction, which its board accepted in February after Netflix declined to counter Paramount’s $31-per-share offer.
An earlier SEC filing had outlined the $24 billion backing from the three funds, although Paramount has not publicly detailed the exact contributions since.
In December, Tencent was removed as a financing partner after concerns from Warner Bros. Discovery’s board over foreign ownership, before later rejoining the deal with fresh funding, according to Bloomberg News.
Regulatory scrutiny remains ongoing.
The acting head of the US Department of Justice’s antitrust division, Omeed Assefi, said the Paramount–Warner Bros. Discovery deal would “absolutely not” be fast-tracked for approval due to political considerations.
Paramount Skydance has stated in filings the Middle Eastern investors will hold non-voting equity stakes and “have agreed to forgo any governance rights – including board representation – associated with their non-voting equity investments”.
According to Paramount, this structure means the transaction “will not be within CFIUS’s jurisdiction”, referring to the Committee on Foreign Investment in the United States, which reviews foreign investments for national security risks.
Two weeks ago, the Treasury Department was criticised for not initiating a national security review of the deal.
In a separate development, seven Democratic senators urged the Federal Communications Commission to carry out a “thorough review” of the foreign investors involved, in a letter addressed to its chair, Brendan Carr.
Warner Bros Discovery’s enterprise value of about $111 billion reflects its combined film, television and streaming assets. The valuation incorporates debt and equity, and underpins takeover interest from Paramount Global, highlighting the scale and strategic importance of its global entertainment portfolio.
