"Bank of America Corp., Citigroup Inc. and Apollo Global Management Inc. are providing the debt commitment, according to filings. RedBird Capital Partners and Larry Ellison - at one point this year the world's richest person - will backstop the $40.7 billion of equity which will in part be provided by Saudi Arabia's Public Investment Fund, the Qatar Investment Authority, Abu Dhabi's L'imad Holding Company PJSC and Jared Kushner's Affinity Partners."
"The names are notable as much for their size as well as their proximity to President Donald Trump, who even before Paramount went public with its bid warned of potential antitrust concerns around Netflix's planned $72 billion acquisition of Warner Bros. Trump, speaking to reporters on Sunday, said he would be personally involved in the decision-making process that now includes a close family member and wealth funds in countries he's courted to make investments in America."
Paramount Skydance launched a hostile bid for Warner Bros. Discovery, assembling banks, billionaires and sovereign-wealth funds to block Netflix's planned acquisition. Bank of America, Citigroup and Apollo committed to provide debt financing, while RedBird Capital and Larry Ellison agreed to backstop $40.7 billion of equity, partly provided by Saudi Arabia's Public Investment Fund, the Qatar Investment Authority, Abu Dhabi's L'imad Holding Company PJSC and Jared Kushner's Affinity Partners. The group agreed to forgo governance rights to reassure WBD's board of financing certainty. President Donald Trump raised antitrust concerns and said he would be involved, then downplayed his role.
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