Paramount Secures $24 Billion from Gulf Sovereign Funds for Warner Bros. Discovery Acquisition

Paramount Skydance has secured approximately $24 billion in equity commitments from three Gulf sovereign wealth funds to support its $81 billion acquisition of Warner Bros. Discovery. Saudi Arabia's Public Investment Fund is contributing about $10 billion, with additional investments from the Qatar Investment Authority and Abu Dhabi-based L’imad Holding Co.

The funding aims to offset costs for Paramount, led by CEO David Ellison, and partner RedBird Capital, as they pursue the media deal announced in February. The Gulf investors will hold minority, non-voting stakes, and Paramount does not anticipate the structure to trigger U.S. national security or communications reviews.

The acquisition, which includes assets such as HBO and CNN, is undergoing regulatory review in Europe and could close as early as July.