"The publication said the company formed an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a $71bn bid for Warner Bros Discovery. The report said Paramount Skydance would contribute about $50bn towards the proposed acquisition with the remainder coming from the wealth funds. Paramount Skydance has described the involvement of the sovereign wealth funds as categorically inaccurate."
"Paramount Skydance is now led by David Ellison, the son of Larry Ellison, cofounder of Oracle and a close ally of US President Donald Trump. Warner Bros Discovery previously rejected a bid from the Ellison family, which holds all board voting power at Paramount Skydance. Neither Paramount nor Warner Bros Discovery responded to Al Jazeera's request for comment. Under the proposed structure, the wealth funds would take small minority stakes and each would receive an IP, a movie premiere, a movie shoot, the report said."
Paramount Skydance is preparing a bid to acquire Warner Bros Discovery, with a proposed consortium allegedly involving the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi. The proposed offer totals $71bn, with Paramount Skydance to contribute about $50bn and the remainder from the wealth funds. Paramount Skydance has described sovereign fund involvement as categorically inaccurate. Paramount Skydance is led by David Ellison, whose family previously had a rejected bid. Warner Bros Discovery, home to HBO, CNN, DC films and games, is considering separations or full-sale options as nonbinding bids are due and the company seeks a year-end deal.
Read at www.aljazeera.com
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