The massive deal for Paramount Skydance to acquire Warner Bros. Discovery (WBD) has secured a huge financial boost.
According to reports on April 6, three major Middle Eastern sovereign wealth funds have committed nearly $24 billion to help fund the takeover.
Leading the group is Saudi Arabia’s Public Investment Fund (PIF), which is providing roughly $10 billion. The Qatar Investment Authority and Abu Dhabi’s L’imad Holding are also part of the deal, covering the rest of the $24 billion. This cash influx helps reduce the amount of personal equity that Oracle co-founder Larry Ellison needs to contribute, though he remains a primary financial pillar of the $110 billion merger.
To keep the deal moving smoothly through U.S. regulations, the investment is structured carefully. Paramount Skydance has stated that these three funds “have agreed to forgo any governance rights, including board representation, associated with their non-voting equity investments.” By ensuring these foreign investors have no voting power or control over the company, Paramount executives believe the deal “will not be within CFIUS’s jurisdiction,” referring to the federal committee that reviews foreign investments for national security risks.
Despite these efforts, some lawmakers are calling for more oversight. Democratic Senators Elizabeth Warren and Richard Blumenthal have pushed for a formal review, and a group of seven senators recently asked the FCC to look closely at the foreign backing. However, because each fund will own “far less” than 25% of the combined business, the companies do not expect the FCC to launch a full investigation.
WBD shareholders are scheduled to vote on the merger on April 23. If the deal receives all necessary approvals, it is expected to close by the end of the third quarter in 2026, bringing major assets like CBS, CNN, and HBO under one roof.
