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It may have only just finished raining missiles in the Middle East, but that hasn’t stopped those industrious desert trading folks from extending their oil-funded reach further into the US. An FCC filing for Paramount Skydance has revealed just how much.
Variety is reporting that approximately 49.5% of the newly-merged Paramount-Warner Bros. Discovery globo-mega-super-corp will be 49.5% owned by foreign investors.
In addition, about 38.5% of the new company’s total equity is held by a trio of Middle Eastern funds.
Arabs. Rich.
Specifically, Saudi Arabia’s Public Investment Fund (15.1%), the United Arab Emirates’ sovereign wealth fund (12.8%), and the Qatar Investment Authority (10.6%).
The rest of that tranche is existing foreign investors in RedBird Capital and Paramount Skydance.
David Ellison, his father Larry Ellison, and RedBird Capital Partners will hold the controlling interest and also retain 100% of the voting power.
The filing is a request for approval of the ownership entities, and it is part of the complex roadmap to making the $111 billion deal a reality.
They also need to pass through the same processes with European regulators.
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