Paramount-Warner Bros. Discovery Will Be 38.5% Owned by ME Funds
The planned merger would see foreign ownership reach 49.5%, with no voting rights for external investors.
The planned merger between Paramount Skydance and Warner Bros. Discovery will include significant Middle Eastern investment, with sovereign funds set to hold a combined 38.5% stake in the merged entity.
According to regulatory filings, overall foreign ownership in the company will reach 49.5%. The largest shares among international investors will be held by Public Investment Fund at 15.1%, alongside a United Arab Emirates sovereign wealth fund at 12.8% and Qatar Investment Authority at 10.6%.
The investment forms part of a broader equity syndication worth nearly $24 billion, with the Saudi fund contributing approximately $10 billion.
Despite the scale of foreign participation, the company said these investors will not hold voting shares, board seats or governance rights. Control of voting power will remain with the Ellison family and RedBird Capital Partners, which will retain ownership of all Class A common stock.
A filing has been submitted to the Federal Communications Commission seeking approval for foreign ownership above standard thresholds, a step described as typical for transactions involving broadcast assets.
The proposed acquisition, valued at $111 billion, has already been approved by Warner Bros. Discovery shareholders but remains subject to regulatory review in Europe. While the statutory waiting period under US antitrust law has expired, authorities retain the option to challenge the deal.
