Paramount Skydance’s proposed $110 billion takeover of Warner Bros. Discovery — a merger that would unite Paramount’s century-old IP library with HBO, CNN and Warners’ global television assets — is being powered by $24 billion from Gulf sovereign wealth funds, including Saudi Arabia’s Public Investment Fund. The Saudis backing the Warner Bros. deal represents more than just another international investor taking a financial stake in Hollywood. For Riyadh, the deal offers the House of Saud proximity to American media power — and, potentially, to the political ecosystem that surrounds it.
Source: Inside Saudi Arabia’s Billion-Dollar Bet on Hollywood