Paramount Skydance is advancing its $110 billion acquisition of Warner Bros. Discovery. The company secured $24 billion in equity from a consortium of Middle Eastern sovereign wealth funds.
Investors including Saudi Arabia’s Public Investment Fund will hold non-voting stakes. This arrangement aims to minimize potential U.S. regulatory hurdles.
Paramount Skydance amended its charter to increase authorized Class B shares to 7 billion. The company also canceled a planned rights offering.
Existing Class B shareholders will instead receive tradable, 10-year warrants as a dividend. This structure preserves voting control for Class A holders while financing the merger.