business / news / / Variety
Paramount Skydance, led by David Ellison, has received commitments of nearly $24 billion to back its takeover of Warner Bros.
Paramount Skydance secured nearly $24 billion from three Middle Eastern sovereign wealth funds for its WBD bid.
KEY POINTS
- Saudi Arabia’s Public Investment Fund is providing about $10 billion, with Qatar and Abu Dhabi supplying the rest.
- Tencent, previously dropped due to foreign ownership concerns, has rejoined the deal with new funding.
- Middle Eastern funds agreed to forgo governance rights, aiming to avoid CFIUS jurisdiction over the deal.
- Paramount expects no FCC review since each fund will own far less than 25% of the combined company.
COMPANIES
Summarized by Newsio from Variety. How we summarize →