Earlier this month, we learned that Warner Bros. Discovery has begun a formal sale process, with preliminary bids from the likes of Netflix, Paramount-Skydance, and Comcast due by November 20. Now, a controversial new bidder may have entered the fray.
According to a new Puck report, Saudi Arabia's Public Investment Fund may be set to back Comcast's over $70 billion offer. Though Matt Belloni doesn't know for certain, he believes Comcast CEO Brian Roberts made a trip to Saudi Arabia to meet with the PIF - during Simon Wiesenthal's big soirée to honor WBD's David Zaslav on October 30.
This isn't the first time we've heard whispers about Saudi Arabia’s PIF showing interest in purchasing WBD. Last month, a rumor did the rounds that the PIF quietly submitted an all-cash offer to buy the company outright. The offer was said to be north of $70 billion, with PIF proposing to take on WBD’s debt and “guarantee” multi-year creative autonomy for HBO, DC, and Warner Bros. Pictures.
Here are some of the (unverified) details shared online at the time (via Reddit):
• The proposal supposedly excludes CNN (PIF doesn’t want news assets that could get blocked).
• PIF apparently promised $5 billion in new content investment for streaming & film over 3 years.
• They’d keep the Warner Bros. studio lot intact in Burbank and “commit to preserving legacy brands.”
• They’d spin off Discovery networks or merge them with MBC Group (which PIF already controls).
• There’s a rumored “creative trust” board with American producers and international investors to maintain “editorial independence.”
It's important to keep in mind that, even if this Puck report is accurate, it doesn't mean that the PIF is actually planning to purchase WBD themselves - though that might well be their ultimate goal - but they could certainly have some say in the above matters as Comcast's financial backer.
Though James Gunn and Peter Safran's contracts as co-heads of DC Studies would likely remain secure through any potential buy-out, the usual grifters are making wild claims about Zack Snyder returning to the fold, and #RestoreTheSnyderVerse is trending yet again.