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GCC SWFs in talks on USD 24 bn to back Paramount’s Warner Bros. acquisition: Abu Dhabi’s L’imad, the Saudi Public Investment Fund, and the Qatar Investment Authority are backing Paramount’s takeover of Warner Bros. Discovery to the tune of USD 24, The Wall Street Journal reports, citing people it says are familiar with the matter. The same figure was previously reported, but the pen hadn’t been put to paper yet.
The breakdown: The three funds finalized commitments just shy of USD 24 bn, with the PIF providing the lion’s share at around USD 10 bn. L’imad and QIA’s investment commitments weren’t specified. The broader transaction places an equity value of roughly USD 81 bn on Warner, or about USD 110 bn including debt.
Foreign control fears addressed: Only a few weeks ago, some US politicians were calling for an investigation into the agreement, citing “foreign investment concerns.” The takeover’s fine print seems to have addressed that, with the Gulf funds holding minority, non-voting positions in the combined company, each below the 25% threshold, to minimize the likelihood of reviews by the US’ Committee on Foreign Investment.
Who else is involved? Paramount Global has also secured about USD 54 bn in debt financing from Bank of America, Citigroup, and Apollo Global Management and started distributing portions of that debt to additional banks and investors. US-based RedBird Capital Partners, which was involved in an Abu Dhabi-backed bid for the UK’s Telegraph newspaper, is also backing the takeover.
Paramount is targeting a 3Q 2026 close for the transaction, subject to regulatory clearance. The merger would bring together major media assets, including CBS, CNN, and HBO, boosting its competitive position as audiences continue shifting toward streaming platforms.
Investors responded positively to the update, with Paramount’s shares rising almost 11% on Tuesday as the confirmed funding reduced uncertainty around the transaction, Deadline reports.
REMEMBER- The battle for Warner Bros. Discovery reached a dramatic end in February, with Netflix walking away from its bid for the Hollywood studio and streaming giant, paving the way for Paramount to acquire the firm.
