According to Business Insider, there’s swirling controversy about whether Middle Eastern oil money will finance a potential $71 billion Paramount bid for Warner Bros. Discovery. On Tuesday, Variety initially reported that the bid involved Saudi, Qatari, and Abu Dhabi sovereign wealth funds, but quickly retracted after Paramount PR called it “categorically inaccurate.” However, the Financial Times reported that same day that David Ellison had recently met with Saudi Arabia’s Public Investment Fund officials who expressed interest in participating. The New York Times also suggested the Saudi sovereign wealth fund could be part of the deal, with neither publication receiving denials from Paramount. The company isn’t commenting on its WBD bid, and the Saudi fund didn’t respond to requests for comment either.
The New Normal Nobody Wants to Talk About
Here’s the thing: whether this specific deal involves petrodollars or not, the fact that we’re even having this conversation tells you everything about 2025. A few years ago, the idea of oil money flowing into American media’s crown jewels would’ve been unthinkable. Now? It feels almost inevitable.
And why wouldn’t it? The Saudis have been on a spending spree that makes your average billionaire look frugal. They created their own golf league, bought Newcastle United, and helped finance the $55 billion deal to take Electronic Arts private. This isn’t dipping toes in the water – it’s buying the whole pool.
business-hypocrisy”>The American Business Hypocrisy
Remember when Jamal Khashoggi’s murder made everyone swear off Saudi money? Ari Emanuel actually returned $400 million! But that moral stance lasted about as long as a New Year’s resolution. Now American CEOs are practically lining up for Saudi cash again.
Business leaders are flying to desert conferences, packing White House dinners for Mohammed bin Salman, and basically acting like 2018 never happened. Trump’s “things happen” dismissal of the Khashoggi murder pretty much sums up the current attitude. When there’s $71 billion on the table, apparently some things are easier to overlook.
What Happens to the Content?
So here’s the real question: if oil money does end up financing a combined Paramount-Warner Bros. Discovery, what happens to the content? We’re talking about a company that makes movies, TV shows, and runs multiple news outlets. Would there be pressure – subtle or not – to create content that doesn’t offend the people writing the checks?
We’ve already seen the awkwardness when comedians took giant checks to perform at Saudi-sponsored festivals. Now imagine that dynamic playing out across entire news divisions and film studios. Money might be money, but some money comes with more strings attached than others.
Basically, This Is Happening
Look, foreign ownership of American media isn’t new. Rupert Murdoch became a US citizen to build Fox, Sony bought Columbia Pictures, Vivendi owned Universal. But there’s something different about petrostate money in 2025.
The combination of massive wealth, shifting political winds, and desperate media companies creates perfect conditions for these deals. As one analysis put it, these investments are helping ease longstanding tensions. Whether we’re comfortable with it or not, oil money in American media isn’t a question of if anymore – it’s how much and how soon.
