Paramount Preps $71B Warner Bros Bid With Arab Sovereign Wealth Funds

Paramount Skydance has formed an investment consortium with the sovereign wealth funds of Saudi Arabia, Qatar and Abu Dhabi to submit a total $71 billion bid for Warner Bros Discovery, Variety reported Tuesday, citing sources familiar with the matter.

The bid is being largely backed by the Ellison family with involvement from Saudi Arabia's Public Investment Fund, the Qatar Investment Authority and the Abu Dhabi Investment Authority, the report said.

Paramount and Warner Bros did not immediately respond to Reuters requests for comment.