Paramount Skydance has secured commitments totaling approximately $24 billion from Middle Eastern sovereign wealth funds to support its planned acquisition of Warner Bros. Discovery, according to a Variety report.
The financing is expected to come from Saudi Arabia’s Public Investment Fund, alongside state-backed investment vehicles in Qatar and Abu Dhabi. The Saudi fund alone is said to be contributing about $10 billion, with the remaining capital coming from the other two investors.
The funding will support Paramount Skydance’s proposed takeover of Warner Bros. Discovery, a deal with an enterprise value of approximately $111 billion that remains subject to regulatory approvals. The companies have indicated they are targeting a close by the end of the third quarter of 2026.
The reported commitments align with earlier disclosures in SEC filings, which indicated that Paramount Skydance anticipated securing roughly $24 billion from Middle Eastern investors as part of its financing structure. However, the company has not publicly detailed the exact contributions from each fund in a formal announcement.
As part of the structure, the sovereign wealth funds are expected to take non-voting equity stakes and forgo governance rights, including board representation. This approach is intended to limit regulatory scrutiny, including potential review by the Committee on Foreign Investment in the United States.
The transaction has already drawn political attention in Washington, with lawmakers calling for closer examination of foreign investment involvement. At the same time, regulatory review timelines remain uncertain, with U.S. antitrust officials indicating the deal will not be fast-tracked.
The funding commitments also reduce the amount of capital required from Oracle co-founder Larry Ellison, who has previously pledged up to $46.7 billion to support the acquisition.
