Paramount Skydance, led by David Ellison, has secured nearly $24 billion from sovereign wealth funds in Saudi Arabia, Qatar and Abu Dhabi to support its planned acquisition of Warner Bros. Discovery, Variety has confirmed. Saudi Arabia’s Public Investment Fund is contributing around $10 billion, with the remaining amount coming from Qatar and Abu Dhabi.
The $111 billion deal is awaiting regulatory approval, with Warner Bros. Discovery shareholders scheduled to vote on the transaction on April 23. Paramount expects the acquisition to close by the end of the third quarter of 2026.
Paramount previously faced scrutiny over foreign investment. Chinese firm Tencent, which had initially committed $1 billion, was temporarily excluded due to board concerns over foreign ownership but has since rejoined the financing.
The streamer has stated that the three Middle Eastern funds will hold non-voting equity and will not have board representation, keeping the deal outside the scope of the US Committee on Foreign Investment.
The involvement of these funds has drawn political attention, with Democratic senators calling for a thorough review of foreign investors, though Paramount executives do not expect the investment to trigger regulatory delays.
Larry Ellison, co-founder of Oracle and David Ellison’s father, had initially committed up to $46.7 billion to the acquisition. The participation of the Middle Eastern funds reduces the amount of private equity required from the Ellison family.
