Paramount Skydance’s $110 billion bid for Warner Bros. Discovery is not solely a Hollywood deal. Powered by $24 billion from sovereign wealth funds in Saudi Arabia, Qatar and Abu Dhabi, triggers debate over influence, power and media independence at a company that involves CNN and HBO.
Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi’s L’imad Holding Company, and the Qatar Investment Authority (QIA) are together putting up a total of $24 billion in investment in the Hollywood mega-merger — a power move that coincides with efforts to build local entertainment industries across the Middle East.