To help fund its buyout, Paramount racked up $ billions in financial backing from Saudi Arabia, Qatar and UAE who will indirectly own 50% of the company’s equity, and potentially up to 100% through future investments, but no voting rights.
The FCC approved all of this. 👎
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Paramount completes its takeover of Warner Bros to become one Hollywood giant known as Skydance
The companies completed the deal on Tuesday, ushering in a new Hollywood giant with the now shorter “Skydance” nametag.