Saudi Arabia’s Sovereign Wealth Fund Pursues Warner Bros. Acquisition

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Saudi Arabia’s wealth fund, the Public Investment Fund, is likely to team up with Comcast to make a large offer for Warner Bros. Discovery. This potential deal could be one of the biggest media acquisitions in recent years. Reports suggest the fund is planning to make a full cash offer, adding more competition to the bidding for the studio.

Comcast’s CEO, Brian Roberts, recently traveled to Saudi Arabia where he met with representatives from the Public Investment Fund (PIF) and visited the Qiddiya project, a large-scale entertainment city.

The recent discussions showed how a partnership between Saudi Arabia and the United States could be valuable, especially for Warner Bros.’ extensive collection of movies and TV shows, including popular franchises like DC Comics and Harry Potter. Sources say Comcast is preparing a potential offer to acquire Warner Bros. Discovery (WBD), and has already begun the process by consulting with financial advisors like Goldman Sachs and Morgan Stanley and reviewing WBD’s financial information.

David Zaslav, the CEO of Warner Bros. Discovery, is apparently preparing the company to be sold, potentially for as much as $70 billion. This price is significantly higher than offers made by other interested buyers like Paramount Global and Skydance Media. For the Public Investment Fund (PIF), an investment in Warner Bros. Discovery fits with their overall goals in the entertainment industry.

This investment fund supports international media companies and is working to boost Saudi Arabia’s entertainment and development projects as part of its Vision 2030 plan. Content from Warner Bros. Discovery could also be used at the new Universal theme park being built in Qiddiya.

While no one has officially announced any discussions, people familiar with the situation believe that if the Public Investment Fund (PIF) gets involved, it will significantly increase competition for Warner Bros. Discovery (WBD). Initial, non-binding offers for WBD are anticipated shortly, with a deadline of November 20th. Experts point out that a bid backed by Saudi Arabia would likely face close examination from U.S. regulators, who would be concerned about media freedom, fair competition, and human rights. However, WBD’s planned reorganization, which will separate its studios and networks by mid-2026, might simplify the approval process for a streamlined acquisition.

It’s still uncertain if the Saudi Public Investment Fund (PIF) will fully support the bid or simply be a strategic partner. However, their involvement significantly changes the situation, suggesting a possible media partnership between Saudi Arabia and the United States – and marking this as one of the biggest acquisitions in the content industry to date.

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2025-11-17 12:14