US EditionIss Backs Warner Bros-Paramount Deal but Rejects Ceo David Zaslav's $886 Million 'Extraordinary' Golden P
- On Sunday, The Wall Street Journal reported Paramount Skydance is finalizing nearly $24 billion in equity commitments from three sovereign wealth funds led by Saudi Arabia to back its takeover of Warner Bros Discovery.
- The Saudi Arabia Public Investment Fund agreed to contribute roughly $10 billion toward the $81 billion equity value, aimed at offsetting substantial costs for Paramount and its stakeholders in the proposed merger.
- To minimize scrutiny from United States authorities, Paramount executives structured the agreement so Gulf backers will forgo voting rights and board seats in the combined entity.
- The talks involving Qatar Investment Authority and Abu Dhabi's Holding may result in a signed agreement as soon as Monday, while Warner Bros Discovery scheduled an April 23 shareholder vote on the sale.
- Combining Paramount and Warner Bros Discovery creates a formidable player in an industry dominated by streaming giants, as Saudi Arabia, the United Arab Emirates, and Qatar invest heavily in media to diversify their economies.
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ISS backs WBD–Paramount deal, opposes $1.35 billion executive payouts, including CEO David Zaslav's $886.8 million golden parachute Importance Rank: 1
Warner Bros. CEO David Zaslav’s $887 million 'extraordinary' golden parachute gets ripped by proxy advisory firm ISS
An advisory firm that counsels the largest institutional investors on how to vote at shareholder meetings is recommending investors support Warner Bros. Discovery’s $77.7 billion acquisition by Paramount Skydance but is against a golden-parachute proposal that would see executives collect a total of $1.35 billion after the deal goes through. In a report issued on Wednesday, Institutional Shareholder Services (ISS) said support for the “extraord…
Paramount confirms Middle East investment groups will fund Warner Bros acquisition
A billboard for Paramount Plus inside a BART/Muni station in San Francisco, California. (Photo by Matthew Keys for The Desk) Paramount on Tuesday confirmed numerous reports that said the company has accepted money from a number of Middle East-based public investment groups to fund its proposed acquisition of Warner Bros Discovery (WBD). In a filing with the U.S. Securities and Exchange Commission, Paramount disclosed that Public Investment Fund,…
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