Paramount Skydance disclosed in a Tuesday filing that several Middle Eastern sovereign wealth funds are among the equity backers of its $111 billion offer to buy Warner Bros. Discovery, naming Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi’s L’Imad and a fund managed by the Qatar Investment Authority (QIA). The 8-K filed with the U.S. Securities and Exchange Commission frames the participation as part of a broader effort to “diversify” the buyer’s shareholder base and to capture “strategic and commercial opportunities” from the new partners.
The filing lists the Ellison family, RedBird Capital and LionTree Investment Fund as other equity stakeholders; LionTree is identified as a newcomer to the consortium. Paramount Skydance did not disclose the precise size of each investor’s commitments in the document, leaving unclear how large an equity slice the Middle Eastern funds — or any of the other backers — will hold in the combined company if the deal closes.
Paramount’s 8-K also reaffirmed that the so‑called “Ellison Guarantee” remains “in full force and effect on their original terms.” The guarantee refers to Oracle founder Larry Ellison’s personal backstop for the transaction on behalf of his son, David Ellison, who merged his Skydance business with Paramount Global and advanced the winning $111 billion bid for Warner Bros. Discovery. The filing did not say whether David Ellison plans to continue seeking additional equity partners for the Warner Bros. assets.
Industry observers have flagged potential strategic links between the new investors and Warner Bros. Discovery assets. The filing notes unspecified “strategic and commercial opportunities,” and the company’s entertainment footprint already includes a Warner Bros. World theme park in Abu Dhabi — one tangible tie to the region. Separately, sovereign funds across the Middle East in recent years have markedly increased investments in U.S. technology, media and entertainment as part of broader diversification strategies.
The confirmation follows earlier reporting that Middle Eastern capital backed a prior, unsuccessful bid for Warner Bros. pieces that was ultimately passed over in favor of Netflix’s plan to acquire parts of Warner Bros. Discovery under a planned split. Paramount’s new consolidated offer, led by the Ellison family and now supported by the named international funds and other private investors, was judged superior in the auction that produced the current agreement.
While the filing emphasizes long‑term shareholder value tied to a diversified investor group, it discloses few commercial specifics and offers no timetable for investor closings or regulatory approvals. Paramount Skydance’s announcement closes a prior gap in public information — confirming which sovereign funds are involved — but leaves key questions about ownership percentages, governance rights and the practical implications of large sovereign investors in a major U.S. media company unanswered as the deal moves forward.