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.
Before Warner Bros. Discovery's Q3 earnings call even began on Thursday, the investor relations team made it clear that leadership did not want to talk about the company currently trying to sell parts of itself to potential bidders. Which wasn't exactly true. They didn't want to field specific questions, sure, but WBD's leadership kept talking about the hypothetical acquisition anyway.
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