Paramount Skydance has secured roughly $24 billion in equity commitments from three Gulf-based sovereign investment entities to support its planned $81 billion takeover of Warner Bros. Discovery. People familiar with the matter said the funding package is intended to underpin the financing of the media combination announced earlier this year.
Sources indicate that Saudi Arabia’s Public Investment Fund will contribute about $10 billion of the total. The remainder is expected to come from the Qatar Investment Authority and Abu Dhabi-based L’imad Holding Co., according to those familiar with the arrangements.
The capital commitments are meant to help offset the financing needs for the offer led by David Ellison and his Paramount Skydance team, together with partner RedBird Capital. Paramount had previously disclosed aggregate commitments of a similar size but had not identified the specific investors; the latest reporting provides those details.
The proposed acquisition, which would transfer control of significant media assets including HBO and CNN, is subject to regulatory review in Europe. That review remains ongoing and represents a milestone the parties are monitoring closely; the transaction could close as early as July if reviews progress without delay.
Under the current structure, the Gulf investors would hold minority, non-voting stakes in the combined company. Paramount does not expect that ownership arrangement will trigger U.S. national security or communications reviews, according to the people familiar with the matter.
The commitments from the Gulf funds reduce the equity burden on Paramount Skydance and its partner RedBird Capital as they pursue the Warner Bros. Discovery deal. Timing and regulatory clearances will determine the ultimate path to closing, and the presence of large, non-controlling investors is a central feature of the financing plan.
Context note: The companies named in these transactions are publicly listed and have previously disclosed the overall terms of the proposed combination. This report focuses on the identity and size of specific equity commitments reported by sources aware of the deal.