Hollywood producer Patrick Caligiuri revealed that Saudi Arabia's Public Investment Fund is about to acquire Warner Bros. Discovery Channel, saying the deal is "just one signature away" from completion.
Warner CEO
Even as his latest announcement comes, the Internet is already buzzing with debate over who will control DC, Warner Bros., HBO and the rest of WBD's vast slate of films.
Caligiri said that he was the first to report the news of the possible Saudi acquisition as early as October 16, and now he pointed out that many online media are reprinting his information and claiming it as their own.He said the source of the rumors was clear—himself.
Caligiri: "The deal is about to be completed"
In the latest update, Caligiri said he had direct media contacts within Saudi Arabia who told him the deal was close to closing.He called the sources "reliable" and said he trusted their information completely, even if it meant risking his reputation if it was wrong.
Caligiri acknowledged that there remains a degree of uncertainty, particularly regarding whether Comcast will be involved in certain other aspects of the acquisition.There are still questions about whether Warner Bros. will be split up and sold, and whether businesses such as HBO Max will be spun off.But he said the core issue remains the same: Saudi Arabia's Public Investment Fund aims to fully acquire Warner Bros. Discovery Channel.
He added that Paramount Pictures had made multiple bids in the $60 billion range, but Saudi Arabia's trillion-dollar fund dwarfed all other contenders.
Why does Saudi Arabia want Warner Bros.?
Khaligiri noted that Saudi Arabia’s push into the global entertainment industry is accelerating.The country has expanded aggressively through its Public Investment Fund, acquiring EA Sports, investing in LIV Golf and pouring billions into film, television, sports and tourism.
He said he spent time in Saudi Arabia just three weeks ago and it was clear the country was "fully engaged in media development" and viewed Hollywood assets as investments for the long-term future.
We've also heard that Zack Snyder could return with his "Snyderverse" if Saudi Arabia acquires Warner Bros. Pictures.
Why the Hollywood media remains silent
Caligiri also pointed out that no mainstream Hollywood media has reported on the possible Saudi acquisition of Warner Bros. Pictures.Instead, they remain focused on Ellison and Skydance Media's acquisition of Warner Bros. Pictures, as well as rumors about possible bids from Netflix and Amazon.
All of this, he believes, is outdated.
He said his sources insist the Saudi deal is close to completion, and that the timeline is in line with what David Zaslav himself has hinted: Warner Bros. is expected to announce its new owner in December.
what does it mean
Caligiri stands by his report.Saudi Arabia is closing in on Warner Bros. Discovery Channel.The Ellisons, Paramount, Comcast, Netflix and Amazon may still be waiting on the sidelines, but the money, momentum and insider rumors are all pointing in the same direction.
If Caligiri is correct, the entertainment landscape could change dramatically — with DC Films, DC Comics, HBO, CNN, Warner Bros. Pictures and the entire Warner Bros. ecosystem all set to change hands before the end of the year.
