_WHAT’S HAPPENING_
Paramount Skydance is in a hostile takeover battle for Warner Bros. Discovery, going head-to-head with Netflix's $83 billion offer for the company's studio and streaming properties.
Though the Ellison family has helped fuel the growth of moderate right-of-center media through their acquisition of Paramount and CBS, purchase of The Free Press, and installation of Bari Weiss as editor-in-chief, many of the same voices who cheered those moves are now concerned about who's bankrolling the Warner Bros. bid.
Sovereign wealth funds from Saudi Arabia, Qatar, and Abu Dhabi are providing $24 billion of the deal's $40.4 billion equity portion — more than double the Ellison family's own $11.8 billion commitment.
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