Saudi Arabia's Public Investment Fund prepares for Warner Bros. Discovery acquisition
The Saudi Arabian Public Investment Fund (PIF), which has drawn attention with its high-profile investments in the global entertainment and media industry, is reportedly taking steps to acquire Warner Bros. Discovery.
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According to international media outlets, the Saudi Arabian Public Investment Fund (PIF) has initiated a move for a new mega-acquisition following its $55 billion purchase of Electronic Arts (EA) last September. According to prominent claims, the PIF has set its sights on Warner Bros. Discovery (WBD) and is reportedly preparing bids for WBD alongside Comcast, the owner of Universal Pictures.
It is stated that the fund is working on an all-cash offer to get ahead of WBD's current competitors, and that this move aims to strengthen Saudi Arabia's entertainment and infrastructure projects under Vision 2030.
Published reports indicate that Comcast CEO Brian Roberts recently traveled to Saudi Arabia to meet with PIF representatives and toured Qiddiya, the massive entertainment project currently under construction in the capital, Riyadh.
It was noted that Comcast has hired Goldman Sachs and Morgan Stanley for financial advisory services in preparation for a potential acquisition process.
DEADLINE FOR ACQUISITION BIDS APPROACHING
While there has been no official statement from the parties regarding the content of the discussions so far, it is known that Paramount, Skydance, and Netflix are also preparing to acquire WBD. Acquisition bids for Warner Bros. Discovery must be submitted by November 20.
Warner Bros. Discovery officials shared in October that various strategic options were being evaluated for the sale of the company in its entirety or certain parts of it. WBD management has so far rejected three takeover bids from Paramount.
It is alleged that the company's CEO, David Zaslav, is preparing for a sale with a valuation reaching $70 billion for WBD, far exceeding the offers from suitors such as Paramount Global and Skydance Media.
The company, formerly known as Time Warner, was acquired by AT&T for $85 billion in 2016 and merged with Discovery Inc. in 2022. It is stated that WBD decided to sell due to its high debt burden and the digital transformation in the media sector, and that this situation is a new example of the merger trend in the industry.
PIF'S AGGRESSIVE INVESTMENTS IN THE GAMING AND ENTERTAINMENT SECTOR
The Saudi Arabian Public Investment Fund made one of its largest investments to date in September 2025 by purchasing gaming giant Electronic Arts for $55 billion. This acquisition stood out as the second-largest deal in the sector following Microsoft's $68.7 billion purchase of Activision Blizzard.
The fund's investments were not limited to this. Making a rapid entry into the e-sports sector by establishing Savvy Games Group in 2022, the PIF acquired ESL and FaceIt for a total of $1.5 billion. Additionally, it was announced that the company Scopely was purchased for $4.9 billion.
With the gaming festival called Gamers8, held in Riyadh since 2022, Saudi Arabia has carved out a significant place for itself in the global e-sports arena. A massive $45 million prize pool was distributed at the 8-week Gamers8 event in 2023, a figure that went down in history as a new record in e-sports.
The PIF's aggressive growth moves continue to strengthen the country's vision of having a say in the global entertainment and media sector. The industry is following with curiosity how the bids for Warner Bros. Discovery and the acquisition process will take shape in the coming days.