Another player joins the race to become the owner of TVN

American website Fiction Horizon has reported that Saudi Arabia's Public Investment Fund (PIF) is preparing to join forces with Comcast, the US-based international media conglomerate, as part of a major takeover bid for Warner Bros. Discovery – owner of, among others, TVN television.

The Saudis are entering the game

Some time ago, Warner Bros. Discovery announced that it is considering selling the company. According to media reports, the value of this company may reach up to USD 70 billion. So far, the race to take over Warner Bros. stood, among others, Paramount Skydance and Netflix.

In recent days, there have been reports in the media that the Saudi Public Investment Fund PIF, which invests in global media platforms, may also join the fight, with the aim of strengthening entertainment and infrastructure projects in Saudi Arabia as part of the Vision 2030 program.

According to Fiction Horizon, Comcast CEO Brian Roberts recently visited Saudi Arabia, where he met with PIF investors and visited the Qiddiya entertainment and tourism megaproject being implemented in the country's capital, Riyadh.

Roberts' visit was intended to highlight the potential benefits for both the United States and Saudi Arabia. Warner Bros. has a huge library of content, which includes, among others: Harry Potter and DC Comics brands. Purchase of Warner Bros. may prove useful in the context of the Universal amusement park planned as part of the Qiddiya investment.

Neither side has officially confirmed the talks

As reported by Fiction Horizon, neither side has officially confirmed the talks so far. However, according to media and entertainment industry insiders, PIF's possible entry into the race to take over Warner Bros. would likely involve an increase in rates.

Analysts have warned that a Saudi-backed bid would result in scrutiny from US regulators over media independence, competition and human rights. In turn, if no sale takes place, Warner Bros. may decide on internal restructuring and division of the enterprise into two entities – one dealing with film studios and television channels.

Currently, as Fiction Horizon pointed out, it is unclear what the nature of Comcast's cooperation with PIF would be – it is not known whether the Saudis will support the offer as a whole or whether they will act as a strategic partner.

According to media reports, Comcast was about to take the first steps in preparing a possible offer and gained access to Warner Bros. data. and hired advisors such as Goldman Sachs and Morgan Stanley. Initial takeover bids for Warner Bros. Discovery must be submitted by November 20. (PAP)

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