Paramount Nears Deal For Gulf State Funds To Back WBD Merger (Report)
Deadline • • business
Key Points:
- Paramount Skydance is close to securing nearly $24 billion in funding from three Gulf sovereign wealth funds—Saudi Arabia’s Public Investment Fund, Qatar Investment Authority, and Abu Dhabi’s L’imad Holding Co.—to support its proposed acquisition of Warner Bros. Discovery.
- Saudi Arabia’s Public Investment Fund is expected to contribute about $10 billion, with a signed agreement potentially finalized as soon as Monday.
- The deal faces scrutiny from Democratic lawmakers concerned about national security and foreign ownership, with calls for a full FCC review due to the involvement of Arab state investors, though Paramount argues no regulatory approval is needed.
- Earlier financial backers like Tencent and Jared Kushner’s Affinity Partners have withdrawn amid Foreign Investment review concerns, leaving Gulf investors and other financial partners like RedBird Capital and Apollo Global Management to support the deal.
- The announcement comes amid ongoing regional instability linked to the U.S.-Israeli conflict with Iran, adding geopolitical complexity to the transaction.
