Gulf Sovereign Funds Commit US$24 Billion To Paramount’s Warner Bros. Deal
Saudi sovereign wealth fund Public Investment Fund (PIF) is expected to contribute around $10 billion, with the remaining equity commitments coming from state-backed funds in Qatar and Abu Dhabi.
California-based film and television production company Paramount Skydance Corp. has secured commitments of nearly US$24 billion from three Middle Eastern sovereign wealth funds to support its proposed acquisition of Warner Bros. Discovery, according to a report by The Wall Street Journal.
Saudi sovereign wealth fund Public Investment Fund (PIF) is expected to contribute around $10 billion, with the remaining equity commitments coming from state-backed funds in Qatar and Abu Dhabi. The investors are not anticipated to take governance roles or board seats, maintaining minority, non-voting positions.
The proposed acquisition would bring together major media assets, including the New York-based premium, subscription, television network HBO and the Georgia-based global cable news network CNN, under the Paramount Skydance umbrella.
Internally, Paramount executives have instructed employees to prepare for a potential deal close by the end of July, although the transaction remains subject to regulatory review in Europe. Meanwhile, Warner Bros. Discovery has scheduled a special shareholder meeting on April 23 to vote on the sale.
The participation of Gulf sovereign wealth funds is seen as reinforcing Paramount Skydance’s position by providing substantial equity financing, reducing reliance on debt. Their minority stakes may also help ease potential regulatory concerns in the United States.
The move reflects a broader trend of Gulf sovereign funds increasing their exposure to global media and entertainment assets, as part of ongoing efforts to diversify investments beyond the energy sector.
