Paramount (PSKY) has received signed equity commitments of close to $24B from three sovereign-wealth funds led by Saudi Arabia to help back its takeover of Warner Bros. Discovery (WBD), according to people familiar with the matter, The Wall Street Journal’s Jessica Toonkel and Lauren Thomas report. Saudi Arabia’s Public Investment Fund has agreed to provide roughly $10B of the nearly $24B to Paramount, run by David Ellison, the son of billionaire Oracle (ORCL) co-founder Larry Ellison.
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