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Paramount and Skydance’s $108 billion hostile bid for Warner Bros Discovery has drawn major attention after three of the Middle East’s most influential sovereign wealth funds joined forces—an uncommon move highlighting the Gulf region’s growing ambitions in global media. Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi’s L’imad Holding Company, and the Qatar Investment Authority (QIA) have all agreed to support the takeover, signaling a rare three-way partnership among states that are rapidly expanding their entertainment footprints.
Paramount confirmed that the consortium is backed as well by Affinity Partners, an investment firm started by Jared Kushner with financial ties to Qatar and the UAE. Analysts say the alliance reflects the Gulf states’ efforts to diversify their economies, strengthen their influence in global storytelling, and secure ownership of valuable media assets. According to Neil Quilliam of Azure Strategy, the collaboration elevates the Gulf’s presence in the industry, allowing these nations to move beyond regional media dominance into a global arena.
While Gulf sovereign funds have previously invested in the same companies, joining a single takeover bid—especially a hostile one—is uncommon. One regional banker noted that the sheer size of the deal likely required participation from multiple funds. Paramount stated that the investors will not receive governance rights such as board seats, meaning U.S. regulatory approval from CFIUS is not required.
Their involvement aligns with broader Gulf investments in entertainment. Saudi Arabia’s PIF recently acquired a majority stake in media giant MBC and led a record-breaking $55 billion deal to buy videogame developer Electronic Arts. Abu Dhabi and Saudi Arabia have hosted Hollywood productions, launched cinemas, and accelerated theme-park developments, including Disney’s first planned Middle East location.
The three Gulf states have also deepened financial ties with the United States, collectively pledging trillions in future investments as they pursue global economic and cultural influence.
