Paramount Skydance seems to still be straightening out some kinks in the way of its takeover of Warner Bros. Discovery. The studio that was once battling Netflix for WBD's acquisition had secured victory after it outbid the streaming giant with its superior offer valued at around $111 billion, including debt ($31 per share). But the deal is not finalized yet, and Paramount Skydance has been looking for funding since then to back its massive offer, and as it happens, it has found some. 

Recently, the studio has found some allies in the Gulf to fund $24 billion to finalize the Warner Bros. deal.

Paramount Skydance has secured commitments totaling around $24 billion from three Middle Eastern sovereign wealth firms to support its acquisition of Warner Bros. Discovery, per a report by The Wall Street Journal. According to the Journal, Saudi Arabia's Public Investment Fund (PIF) agreed to give Paramount around $10 billion, with the remaining amount coming from state-controlled institutions in Qatar and Abu Dhabi.

As both companies move forward with a deal first announced in February, the capital infusion is intended to lessen the financial burden on Paramount, led by CEO David Ellison, and its strategic partner RedBird Capital. The Wall Street Journal article is the first time the individual investors (Saudi Arabia's Public Investment Fund, Qatar Investment Authority, and Abu Dhabi-based L'imad Holding Co.) have been made public, even though Paramount had previously acknowledged obtaining sizable aggregate pledges.

According to an SEC filing at the time, Paramount's bid for WBD as of December 1 contained a total of $24 billion from the Middle Eastern funds. Since then, the company has not revealed the potential contribution of the three funds to its winning bid for Warner Bros. Discovery, which was approved by the board of directors of WBD in February after Netflix chose not to challenge Paramount's $31/share offer.

Things are almost in their final stage for this Paramount Skydance and Warner Bros. Discovery deal, but there remains one last hurdle before everything is formalized.

The acquisition of Warner Bros. Discovery by Paramount Skydance is still awaiting regulatory approval. According to the corporations, the agreement is expected to close by the end of the third quarter of 2026. In light of the Ellison family's cordial links to President Donald Trump, Omeed Assefi, the acting head of the Department of Justice's antitrust division, stated last month that the Paramount-WBD deal will not be expedited for approval for political reasons.

A special shareholder meeting to vote on the Paramount Skydance deal has been scheduled by WBD for April 23. This would be the last step in finalizing the merger between the companies. The deal that took months to come to the final stage has been looking closer to fruition with the Gulf's backing. Anyhow, the fate of the deal is expected to be finalized for good come April 23, with the shareholders' vote.

Paramount CEO Wants Paramount and Warner Bros. to Stay Apart and Save Hollywood Jobs

Do you think the Gulf fund will finally help Paramount Skydance acquire Warner Bros. Discovery? Let us know in the comments.