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Paramount’s Warners Bid Includes $24 Billion From Middle Eastern Funds, Backing From Jared Kushner’s Affinity Partners
Paramount’s all-cash bid for Warner Bros. Discovery includes $24 billion from three Middle Eastern sovereign wealth funds. That number was buried in a SEC filing the company released on Monday.
In total, Paramount’s bid includes a $11.8 billion commitment from the Ellison family, $24 billion from “three sovereign wealth funds from the Gulf” and $1 billion from the Chinese technology company Tencent. There are also commitments from RedBird Capital Partners and Jared Kushner’s Affinity Partners. RedBird Capital Partners was founded by Gerry Cardinale and counts former CNN Worldwide President Jeff Zucker among its executives.
More to come …
The post Paramount’s Warners Bid Includes $24 Billion From Middle Eastern Funds, Backing From Jared Kushner’s Affinity Partners appeared first on TheWrap.
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