Inside Saudi Arabia’s Billion-Dollar Bet on Hollywood
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Saudi Arabia is investing billions in Hollywood, including a $12 billion stake in the proposed Paramount-Warner Bros. merger. The investment is part of the kingdom's efforts to expand its entertainment industry and gain influence in the US media landscape.
Saudi Arabia is pouring billions into Hollywood, with a $12 billion investment in the proposed Paramount-Warner Bros. merger. The deal is part of the kingdom's efforts to expand its entertainment industry. Eight years ago, there were no cinemas in Saudi Arabia, but now there are multiplexes and film festivals. The kingdom's investment in Hollywood is seen as a way to gain influence in the US media landscape. The proposed merger would unite Paramount's IP library with HBO, CNN, and Warners' global television assets. Saudi Arabia's Public Investment Fund is contributing $12 billion to the deal, with sovereign wealth funds from Abu Dhabi and Qatar also investing.
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