Core Insights - Saudi Arabia, Abu Dhabi, and Qatar have pledged $24 billion to support Paramount's $18 billion hostile bid for Warner Brothers Discovery, covering nearly 60% of the $41 billion equity in the deal [1][2] - This collaboration among Gulf rivals could reshape the global media landscape and establish the Gulf as a significant player in Hollywood [2] - Gulf sovereign funds are actively acquiring major entertainment and media assets, with Saudi Arabia already investing billions in sports teams and other high-profile investments [2] Group 1 - The Gulf states are aiming to build a media empire to compete with Qatar, which owns Al Jazeera, the most-watched news channel in the Arab world [3] - Qatar also has ownership of the French football team Paris Saint-Germain, indicating its investment in both media and sports [3] - Abu Dhabi is looking to expand its media assets following a failed bid for Britain's Telegraph newspaper, which led to changes in UK media ownership laws [4] Group 2 - The UAE is home to several Arabic language outlets and Euro News, showcasing its media presence [4] - Abu Dhabi has significant influence in football as the owner of Manchester City and has attracted major film productions, including the F1 movie "Dune" [4]