Paramount Skydance Corp (NASDAQ:PSKY) has reportedly obtained commitments of nearly $24 billion from three Middle Eastern sovereign wealth funds to support its proposed acquisition of Warner Bros. Discovery.

As first reported by the Wall Street Journal, Saudi Arabia’s Public Investment Fund will provide approximately $10 billion, while state-backed funds from Qatar and Abu Dhabi will supply the remainder of the $24 billion in equity commitments. The foreign investors are not expected to take governance roles or seats on the board.

The acquisition would combine major media assets, including HBO and CNN, under the Paramount Skydance umbrella. Paramount executives have reportedly instructed employees to prepare for a potential deal close by the end of July, while the transaction is still subject to regulatory review in Europe. Warner Bros. Discovery has scheduled a special shareholder meeting on April 23 to vote on the sale.

The Gulf funds’ involvement is seen as strengthening Paramount Skydance’s position by providing substantial equity support rather than relying solely on debt. The minority, non-voting nature of the stakes may also help ease regulatory scrutiny in the United States.

Gulf sovereign wealth funds have increasingly participated in global media deals as part of broader efforts to diversify investments beyond the energy sector.

https://finance.yahoo.com/markets/stocks/articles/paramount-skydance-secures-24b-commitments-151100061.html