Paramount Skydance seems to be nearing a deal to secure funding from three Gulf nation sovereign wealth funds to back its proposed acquisition of Warner Bros. Discovery, according to a Sunday report in the Wall Street Journal.
Per the outlet, the corporation is seeking signed equity commitments of close to $24 billion, for which Saudi Arabia’s Public Investment Fund has agreed to contribute approximately $10 billion. The talks, which also involve Qatar Investment Authority and Abu Dhabi’s L’imad Holding Co., may result in a signed agreement as soon as Monday.
The move comes after Democratic lawmakers expressed national security concerns related to foreign ownership and backing of the merger. Last month, a group of senators called on FCC chairman Brendan Carr to conduct a “full and independent” review of Paramount‘s proposed $81 billion deal due to Arab state investment. At the same time, Carr has said the agency would have minimal oversight over
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