Paramount Skydance Publicly Denies Arab Wealth Fund Involvement in Warner Bros. Discovery Bid

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The dispute surrounding Warner Bros. intensified today when Paramount Skydance released an unusual and strongly-worded statement refuting a key claim reported by several Hollywood industry publications regarding their planned offer.

According to Variety, the newly created Paramount Skydance is building a $71 billion investment group, drawing funds from the sovereign wealth funds of Saudi Arabia, Qatar, and Abu Dhabi, with the goal of buying Warner Bros. Discovery.

But according to the company itself, none of that is true.

A studio representative told Variety that the publication’s report was completely false. The spokesperson also stated that because the matter is confidential, they won’t be making any further comments until it’s resolved.

That was a very direct and firm denial – unusual for this industry, which typically avoids direct responses and prefers carefully worded statements.

But the timing could not be more dramatic.

The WBD Board Set a Hard Deadline — and the Pressure Is Real

Warner Bros. Discovery is accepting first-round offers until November 20th. Major companies such as Comcast and Netflix are likely to bid, and there’s considerable talk that the Saudi Arabian Public Investment Fund may also participate.

So far, David Ellison has been the most determined to buy the company. According to Variety, Warner Bros. Discovery (WBD) already turned down Ellison’s initial offer of $23.50 per share, suggesting the company’s board is looking for a much larger bid from any potential buyer.

Warner Bros. Discovery is carrying a significant amount of debt and still manages traditional cable channels, making it tricky to determine its overall value. Because of this, the company’s board is seeking offers that accurately reflect the worth of its valuable content library – including popular franchises from DC Films and HBO, as well as its television studios, CNN, and Discovery’s lifestyle programming.

The big question after today’s rejection is still: how is Skydance structuring its offer if it isn’t relying on money from overseas investors?

Variety’s Earlier Reporting Has Become a Flashpoint

So, I was reading about the potential takeover of Paramount Skydance, and the initial story said the Ellison family – they basically control the voting power there – were putting together this huge international investment team to make it happen. The publication that reported it was confident in its sources, even though they weren’t named. It seemed like a pretty big deal, and they stood by everything they said.

Paramount Skydance now says the report is flat-out wrong.

This creates an unusual public disagreement between a major movie studio and a leading industry publication, particularly as both are involved in a large and complex business deal. From this point forward, there will be increased pressure, public attention, and oversight from regulators.

Meanwhile, Comcast Is Sniffing Around

Variety reported that Brian Roberts, co-CEO of Comcast, visited Saudi Arabia in late October. He attended a conference hosted by the Public Investment Fund (PIF) and toured Qiddiya, the location of a huge new theme park being built there. Although it’s unconfirmed whether Roberts was seeking funding for a potential acquisition of Warner Bros. Discovery, the timing of his trip is noteworthy.

Universal building a theme park in Saudi Arabia is already a big deal, but with Warner Bros. potentially for sale, every business trip and meeting is getting extra attention.

Why This Matters for the Industry

If Paramount Skydance acquires Warner Bros. Discovery, it would combine two of the biggest movie and television studios globally. This would bring all of HBO, Warner Bros., and Paramount’s films and TV shows together under one company.

Streaming services such as Max and Paramount+ could undergo major changes due to increased regulatory oversight. Any legal challenges could be the biggest antitrust case in the media industry since the Disney-Fox merger.

If Paramount runs into trouble, Warner Bros. Discovery could still separate its TV networks from its movie and streaming businesses. Other companies like Comcast, Netflix, or the Saudi Public Investment Fund might then make offers to buy parts of the company as well.

Either path represents a turning point for Hollywood.

The Bottom Line

Noise surrounding the latest Paramount Warner Bros. bid just got a lot louder — and a lot messier.

Paramount Skydance has stated they have no financial ties to investment funds from Arab countries, disputing a key claim made in a recent Variety article. However, time is running out, as Warner Bros. Discovery’s board expects to receive formal offers by November 20th.

As this situation develops, anticipate further denials, information leaks, and behind-the-scenes power plays. With so much money, prominent brands, and the future of the entertainment industry hanging in the balance, this could easily become the most significant business story of the next ten years.

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2025-11-18 23:57