Paramount Pictures (PSKY) has seen a significant increase of 2.92% in its stock price, as it secures talks with three sovereign-wealth funds to secure nearly $24 billion in funding for its takeover of Warner Bros. Discovery. The talks are led by Saudi Arabia’s Public Investment Fund, which plans to provide around $10 billion of the total amount. Paramount Studios is currently run by David Ellison, the son of Oracle co-founder Larry Ellison.
Source: https://www.wsj.com/business/deals/three-gulf-funds-agree-to-back-paramounts-81-billion-takeover-of-warner-04eda364