So here's a fun Hollywood plot twist: Paramount Skydance Corp. (PSKY) is reportedly about to get a $24 billion check from some very deep-pocketed friends in the Gulf to help finance its takeover of Warner Bros. Discovery Inc. (WBD). Think of it as the ultimate studio financing deal, but instead of movie moguls, you've got sovereign wealth funds writing the checks.

According to reports, a Saudi Arabia-led consortium that includes the Qatar Investment Authority and Abu Dhabi's L'imad Holding Co. is expected to finalize agreements by next Monday. Saudi Arabia's Public Investment Fund alone is set to contribute about $10 billion of that total. That's not exactly couch cushion money.

This financial backing is meant to lighten the load for Paramount's David Ellison and RedBird Capital Partners, who are also backing the deal. Paramount has confirmed that this equity syndication won't affect the transaction's closure, with the Ellison family ready to cover the full amount if needed. It's always good to have a backup plan when you're playing with billions.

Here's the interesting part: these Gulf investors won't have voting rights in the new Paramount-Warner entity. They're putting up the cash but not getting a say in how the company is run. This arrangement means the deal is unlikely to trigger mandatory reviews by the Committee on Foreign Investment in the U.S. (CFIUS) or the Federal Communications Commission (FCC), since each party will hold less than a 25% stake in the combined company.

Paramount Skydance did not immediately respond to a request for comment.

Senate Flags Foreign Funding Concerns

This development comes as several Senate Democrats are calling for a rigorous FCC probe into the foreign funding behind the Paramount-Warner Bros. merger. They're worried that these foreign investors could still exert indirect influence over CNN's editorial direction and business strategy, despite Paramount's assurances that the investors would hold no governance rights.

It's a classic Washington-Hollywood tension: money wants to flow where it can earn returns, but politicians worry about who's pulling the strings behind the scenes. The senators are particularly concerned about influence from China and Gulf states, even though Paramount says these investors won't have voting power.

Paramount had earlier mentioned about $24 billion from three sovereign wealth funds for its bid, but the cast of characters has changed. Early backers Tencent Holdings (TCEHY) and Affinity Partners, backed by President Donald Trump's son-in-law Jared Kushner, have since withdrawn and are no longer involved. So it's gone from a diverse international consortium to a more focused Gulf-backed deal.

As for how the stocks are performing: over a year-to-date basis, Paramount stock declined 27.77%, while Warner Bros fell 4.17%, according to market data.