Paramount's Bold $71 Billion Bid for Warner Bros Discovery

Paramount Skydance collaborates with Saudi, Qatari, and Abu Dhabi sovereign wealth funds to propose a $71 billion bid for Warner Bros Discovery. Backed by the Ellison family, the investment involves minority stakes. The deadline for first-round bids is November 20, with each fund receiving specific perks.

In a bold move, Paramount Skydance has orchestrated an investment consortium featuring the sovereign wealth funds of Saudi Arabia, Qatar, and Abu Dhabi to make a $71 billion bid for Warner Bros Discovery. Sources disclosed this development to Variety on Tuesday.

Key backing comes from the Ellison family, alongside significant involvement from Saudi Arabia's Public Investment Fund, the Qatar Investment Authority, and the Abu Dhabi Investment Authority. While Paramount refrained from commenting, attempts to reach Warner Bros and the PIF for remarks were unsuccessful.

Under the proposed terms, these wealth funds would acquire minor stakes in Warner Bros Discovery, each securing benefits including intellectual property rights, movie premieres, and film shoots. The deadline for submitting non-binding first-round bids is set for November 20.

(With inputs from agencies.)