The acquisition of Warner Bros. Discovery through Paramount Global continues to take shape - and is receiving massive financial support from the Middle East.

As the industry magazine Variety According to reports citing several sources, sovereign wealth funds from Saudi Arabia, Qatar and the United Arab Emirates are contributing a total of USD 24 billion to the financing of the transaction. A significant share of this is being contributed by the Saudi Arabian Public Investment Fund with.

The entry of the Gulf states underlines the growing importance of state investors from the Middle East in the global media and entertainment industry. These funds are already increasingly acting as strategic investors in other areas - from gaming to streaming.

For Paramount, the financing is a central component of the mega-deal: The total volume of the takeover, including debt and other obligations, amounts to around 110 billion dollars. The Group is offering 31 dollars per share and is also assuming a default fee from a previously failed deal with Netflix.

The transaction, which is expected to be completed in the third quarter of 2026, is one of the largest mergers in media history. Industry observers expect far-reaching consequences for the global content market, competition in the streaming segment and the role of international investors in Hollywood.