Middle East Funds Take 38.5% Equity Slice in Paramount-WBD, Filing Shows
Paramount’s FCC filing reveals that the merged Paramount-Warner Bros. Discovery will have 38.5% of its equity owned by foreign investors, allocated to Saudi Arabia’s Public Investment Fund (15.1%), UAE’s SWF (12.8%), and Qatar Investment Authority (10.6%), with no board seats or voting rights for these investors. The company is seeking a declaratory ruling to permit indirect foreign ownership above 25% and to allow future increases up to 20% for certain non-controlling investors. The Ellison family and RedBird Capital will retain the largest stake and 100% voting power, while European regulatory approvals and potential state challenges remain in play.