According to Puck News, Comcast CEO Brian Roberts recently traveled to the Arabian Peninsula, where he talked to the fund's authorities about the possibility of joint investment. He also visited Qiddia – an emerging entertainment city where theme parks related to Universal brands are being built.
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Saudi fund in play for Warner Bros. Discovery
PIF is today one of the most powerful investors in the world. It manages assets worth nearly one trillion dollars, and in September it took part in the high-profile takeover of Electronic Arts, the creator of such hits as FC26, The Sims and Battlefield.
This transaction, worth $55 billion, showed that the Saudis have no qualms about getting involved with the biggest brands in global entertainment.
Media market in tension before November 20. The takeover of CNN and TVN24 is in play
According to American websites, the takeover offers of Warner Bros. Discovery must be submitted by November 20. The most active player remains Paramount Skydance, which has so far offered from $22 to $24. per share – an amount considered too low by WBD.
Read also: Reuters: Netflix willing to buy part of the owner of TVN
The Ellison family, owners of Paramount Skydance and close political allies of President Donald Trump, However, according to media speculations, they may increase the rate to as much as $30 if they want to finalize the takeover. However, serious doubts have arisen regarding the possible purchase regarding the future editorial independence of stations such as CNN and TVN24.
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Netflix is also getting ready to compete and is considering entering the bidding for selected WBD assets. However, this scenario arouses resistance from some American politicians. Congressman Darrell Issa warned that taking over such a large part of the market – along with film studios and the Harry Potter and DC Comics brands – could pose a risk of monopolization of the media and streaming space.
Meanwhile, industry analysts speculate that Comcast, despite its own power, needs a strong capital partner for the transaction. This role could be fulfilled by the Saudi PIF, although it is unclear whether it would involve purchasing the entire company or only the film and streaming part.
If none of the offers proves satisfactory, WBD may decide to take a radical step – dividing the company into two independent entities: Warner Bros. (with HBO Max and film studios) and Discovery Global (including TVN and linear channels).
Comcast – a global giant looking for new configurations
Comcast, one of the key participants in the WBD game, is a company present on the market since 1963. In the USA, it operates mainly under the Xfinity brand, offering the Internet, cable TV and telephony. In Europe, it controls the Sky and Sky Italia platforms, although it recently sold Sky Deutschland for $175 million. Comcast's most important subsidiary is NBCUniversal – the owner of the NBC station and a wide portfolio of thematic channels.
In response to the declining importance of linear television in the era of streaming, the company plans to spin off a new company, Versant, from NBCUniversal, which will include, among others, MSNBC, CNBC or USA Network.
In Poland, Comcast is present through E! Entertainment, 13th Street and Sci Fi. Moreover, together with Paramount Skydance, it co-creates the SkyShowtime platform, which – despite an increase in revenues to EUR 275 million in 2024 – still generates significant losses. According to Deadline, both owners invested at least one billion dollars in the development of the website.
For Comcast, participation in the WBD acquisition is an opportunity to strengthen its position on the global market, and for PIF – another step in building the Saudi media and entertainment empire. The coming weeks will show whether any of the bidders will meet WBD's financial expectations and change the balance of power in the global media industry.
