NOVEMBER, 2025: Saudi Arabia May Be Closer Than Anyone Else To Buying Warner bros.
Published: 16.11.2025
Reading time: 2.2 minutes
Reports circulating this week that Saudi Arabia’s Public Investment Fund (PIF) is “very close” to a final deal to buy Warner Bros. Discovery (WBD) — reportedly in the $70-plus billion range — have electrified markets and social media. The claim, and an additional thread that Comcast may be “attached” to any Saudi-led approach, deserve careful parsing. Publicly available reporting shows an active and crowded sale process; it also shows that the PIF story currently sits closer to rumor than confirmed transaction.
Saudi Arabia’s sovereign-wealth juggernaut, the Public Investment Fund (PIF), is quietly emerging as a dark-horse suitor in the high-stakes Warner Bros.
Discovery takeover drama, according to multiple reports. With an estimated asset base nearing $1 trillion, PIF’s financial firepower would give it the capacity to press a bold bid — potentially north of $70 billion — though key pieces of the story remain unconfirmed.
Warner Bros. Discovery confirmed last month that it has launched a formal strategic review after receiving “unsolicited interest” for both the whole company and its Warner Bros. studio business. Axios+2Exchange4Media+2 While WBD is due to split into separate studio/streaming and cable networks companies by mid-2026, that planned separation has not deterred suitors from lining up. euronews+2AOL+2 Paramount Skydance, Comcast, and Netflix are widely reported to be preparing nonbinding first-round offers. benzinga.com+2AOL+2
Sources suggest that PIF recently floated its own bid, potentially in partnership with Comcast. Leaders+2Cosmic Book News+2 The linkage makes strategic sense: Comcast’s Brian Roberts reportedly met with PIF officials on a visit to Saudi Arabia, where discussions touched on the Qiddiya entertainment megacity — a project that could benefit from Warner’s IP. Leaders+1 That pairing would combine PIF’s deep pockets with Comcast’s content, distribution, and theme-park infrastructure.
Still, the $70 billion figure — frequently cited in industry chatter — has not been independently verified by major financial outlets. At this stage, the PIF story remains a rumor backed largely by people “familiar with the situation” rather than by formal, binding offers or financial disclosures. Warner’s board continues to review its options, with no guarantee any deal will close, and has warned there is “no assurance” the process will result in a transaction.
If PIF does emerge as a frontrunner, however, the implications would be profound: it would represent a sovereign wealth fund acquiring one of Hollywood’s crown-jewel media companies, raising not just financial but significant geopolitical and regulatory stakes.
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