Saudi Arabia May Team Up With Comcast on Warner Bros. Bid
Warner Bros. Discovery (WBD) is up for sale and drawing intense interest from global media giants as the deadline for preliminary bids approaches on Nov. 20.
A new and potentially game-changing contender has recently emerged: Saudi Arabia’s Public Investment Fund (PIF) is reportedly preparing to team up with Comcast for an ambitious, all-cash bid that could redefine the acquisition race.
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Comcast CEO Brian Roberts recently traveled to Saudi Arabia, where he met with PIF officials and toured the entertainment megacity of Qiddiya, highlighting the potential synergies of a Saudi-US partnership, according to The New York Post. For Saudi Arabia, acquiring part or all of WBD would advance its Vision 2030 agenda and support projects such as a planned Universal theme park in Qiddiya.
Meanwhile, WBD’s management, led by David Zaslav, is making changes inside the company. They are separating the studios and streaming division from the linear TV networks, which may make it easier for different buyers to focus on the parts of the business in which they are most interested. WBD’s valuable content library, including the Harry Potter and DC franchises, is a major draw for buyers. Some estimates now value the company as high as $70 billion.
Other interested parties apparently include Paramount Skydance, Netflix, Amazon, and MGM Studios. Netflix and Comcast seem focused on the studio and streaming assets, while Paramount Skydance is eyeing the entire company. The possible involvement of Saudi Arabia’s PIF is expected to increase the competition, but any deal that includes a foreign sovereign wealth fund will face tough US regulatory scrutiny. Authorities will be watching for issues related to antitrust laws, media independence, and human rights concerns.
While official confirmation is still pending, analysts agree that PIF’s potential all-cash bid alongside Comcast’s could reshape both the global media landscape and the future of WBD.
