Paramount Gets $24 Billion for Warner Bros. Deal – Beginner – EN
Paramount Skydance has made deals to get nearly $24 billion from three Gulf wealth funds. The money will help Paramount buy Warner Bros. Discovery. Saudi Arabia’s Public Investment Fund is the biggest backer. Two other investors from Qatar and Abu Dhabi also joined the plan.
David Ellison leads Paramount, and his father Larry Ellison also supports the deal. RedBird Capital is helping too. The merger is very large, and the company says the new money will help pay for it. Paramount hopes to finish the deal by the end of July.
The deal still needs regulatory approval. Experts say American officials will study it because foreign money is involved. But the Gulf investors would get non-voting shares, so they would not control the new company or sit on the board.
If the deal closes, Paramount and Warner Bros. Discovery would create a huge media company with brands like HBO, CNN, CBS, Harry Potter, and The Godfather. Paramount has also lined up major debt from big banks to support the full cost of the transaction.
Vocabulary Words List
Gulf wealth funds — large government investment funds from Gulf countries
buy — to purchase something
biggest backer — the person or group giving the most support
joined the plan — became part of the project
supports — helps or agrees with
merger — when two companies combine
new money — fresh funding
regulatory approval — official permission from the government
foreign money — investment coming from another country
non-voting shares — shares without the power to vote
control — to direct or manage something
board — the group that helps lead a company
media company — a business that owns news or entertainment brands
debt — money that must be paid back
transaction — an official business deal
Fill In The Blanks Listening Practice
Paramount Skydance has made deals to get nearly $24 billion from three . The money will help Paramount buy Warner Bros. Discovery. Saudi Arabia’s Public Investment Fund is the . Two other investors from Qatar and Abu Dhabi also .
David Ellison leads Paramount, and his father Larry Ellison also the deal. RedBird Capital is helping too. The is very large, and the company says the will help pay for it. Paramount hopes to finish the deal by the end of July.
The deal still needs . Experts say American officials will study it because is involved. But the Gulf investors would get , so they would not the new company or sit on the board.
If the deal closes, Paramount and Warner Bros. Discovery would create a huge with brands like HBO, CNN, CBS, Harry Potter, and The Godfather. Paramount has also lined up major from big banks to support the full cost of the .
Vocabulary Retention Quiz
1. How much money did Gulf wealth funds promise for the deal?
2. Which company is Paramount trying to buy?
3. Why are regulators looking closely at the deal?
Discussion Questions
1. Do you think very large media mergers are good or bad?
2. Why might governments review deals with foreign investors?
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