Gulf sovereign wealth funds back Paramount Skydance's Warner Bros. acquisition
Big news in entertainment: Gulf sovereign wealth funds are putting $24 billion behind Paramount Skydance's $110 billion buyout of Warner Bros. Discovery (WBD).
The investment comes from Saudi Arabia, Abu Dhabi, and Qatar, with shareholders offered $31 per share.
Timing of any fee is not specified in the source; the source only says the deal is expected to close in the third quarter of 2026.
The merged entity will offer more content to viewers
Paramount Skydance will bring together everything from Paramount and Warner Bros. to HBO, CNN, and Discovery under one roof, aiming to give viewers more choices and creators more freedom.
They're hoping to save $6 billion by streamlining tech and operations.
Regulatory fees and other costs are part of the deal
The deal includes a hefty $7 billion regulatory fee plus Paramount covering Netflix's $2.8 billion termination cost.
The source does not specify timing for a shareholder vote; it only says the transaction is expected to close in the third quarter of 2026.
Paramount Skydance will be the acquiring company and the announcement was issued from Los Angeles and New York.