Riyadh - Sharikat Mubasher: Paramount, a global leader in premium entertainment content, is in talks to secure signed equity commitments totaling $24 billion from three Gulf sovereign wealth funds to support its takeover of Warner Bros. Discovery.

The funding is led by the Saudi Public Investment Fund (PIF), which will provide nearly $10 billion, and will see participation from Qatar Investment Authority (QIA) and Abu Dhabi’s L’imad Holding Company, as reported by the Wall Street Journal.

The agreements, expected to be signed soon, will support Paramount’s $81 billion deal to buy Warner Discovery, home to HBO, CNN, and Harry Potter.

The Gulf investors will own far less than 25% of the Paramount-Warner entity; thus, they will not have voting rights in the combined company.

It is worth noting that the PIF discussed with SpaceX acquiring an anchor stake of nearly $5 billion in the company’s IPO. These investments underscore the fund’s commitment to deploying capital into high-growth sectors globally to forge strategic partnerships, acquire cutting-edge knowledge, and bring expertise to Saudi Arabia.