Paramount Skydance is in advanced talks to raise nearly $24 billion in equity commitments from Gulf sovereign wealth funds to support its planned $110 billion acquisition of Warner Bros. Discovery, according to reports.
The financing structure is expected to be led by Saudi Arabia’s Public Investment Fund (PIF), which may contribute about $10 billion, while additional backing is being explored from other major regional investors, including the Qatar Investment Authority and Abu Dhabi-based L’imad Holding.
The proposed transaction, first announced in February 2026, values the deal at approximately $110 billion, with an equity component estimated at $81 billion. The acquisition is positioned as one of the largest media mergers globally, reflecting ongoing consolidation within the entertainment and streaming industry.
Brandspur Brand News reports that the involvement of sovereign wealth funds is aimed at strengthening the financial foundation of the deal while limiting equity dilution for existing stakeholders. The investors are not expected to receive voting rights in the combined entity, a structure designed to maintain control within Paramount Skydance while attracting long-term capital.
The talks signal increasing interest from Middle Eastern investment bodies in global media and entertainment assets, as traditional media companies continue to adapt to competition driven by streaming platforms and changing consumer behaviour.
Paramount executives are reportedly working towards closing the transaction in the third quarter of 2026, subject to regulatory approvals and finalisation of financing arrangements. Despite the scale of the deal, the company believes the participation of Gulf investors will not trigger intervention from US regulatory bodies such as the Committee on Foreign Investment in the United States (CFIUS) or the Federal Communications Commission (FCC).
However, regulatory scrutiny remains a key factor given the size and cross-border nature of the acquisition, which combines major assets across film, television, and streaming operations.
Warner Bros. Discovery, one of the world’s largest entertainment conglomerates, would significantly expand Paramount Skydance’s portfolio if the deal is completed, enhancing its competitive position against major industry players in the global content market.
Neither Paramount Skydance nor the prospective Gulf investors have publicly confirmed the ongoing discussions, and the final structure of the financing package remains subject to negotiations and approvals.
