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Bond Market News
Paramount Turns to Gulf Funds for $24bn to Close WBD Takeover
April 6, 2026
Paramount is reportedly close to securing nearly $24bn in equity commitments from three Middle Eastern sovereign wealth funds to help finance its $110bn takeover of Warner Bros. Discovery (WBD). Saudi Arabia’s Public Investment Fund (PIF) is set to contribute roughly $10bn, with Qatar Investment Authority (QIA) and Abu Dhabi’s L’imad Holding expected to make up the remainder. The deal, announced in February and expected to close in the third quarter, would combine major media assets strengthening the merged entity’s ability to compete in an increasingly streaming-dominated landscape. Notably, the Gulf investors will hold no voting rights in the new combined company. Paramount executives do not anticipate the foreign funding to trigger regulatory scrutiny from either the Committee on Foreign Investment in the US or the Federal Communications Commission.
Paramount’s bonds traded stable with its 5.9% 2040s at 75.5, yielding 8.95%. WBD’s 4.279% 2032s was also stable at 94.5, yielding 6.1%
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