Paramount's Larry and David Ellison might look to Middle East petrostates to help finance a deal for WBD. That's tricky.

Core Viewpoint - A potential merger between Paramount and Warner Bros. Discovery (WBD) could create a significant media conglomerate, potentially involving investments from Middle Eastern sovereign wealth funds [1][3]. Group 1: Deal Structure and Participants - David and Larry Ellison are leading the bid to acquire WBD, utilizing funds from Saudi Arabia, Qatar, and Abu Dhabi [1][3]. - Paramount is seen as the most likely candidate to acquire WBD, as it is offering to purchase the entire company, unlike competitors Netflix and Comcast, which are only interested in partial ownership [5]. Group 2: Implications of Foreign Investment - The involvement of Middle Eastern governments in a major American media company raises questions about foreign ownership and control, which could lead to public scrutiny and pushback [4][7]. - The consolidation of media companies could amplify their influence, as seen in the potential merger of CBS News and CNN, which may gain more power together than individually [8]. Group 3: Historical Context and Reactions - Historically, foreign investors have held stakes in American media companies, such as Japan's Sony and Saudi investor Prince Alwaleed bin Talal's previous investments in Fox [9]. - The potential for Middle Eastern countries to invest in American media for financial returns, without interest in content, contrasts with past hesitations following incidents like the murder of journalist Jamal Khashoggi [10].