TVN owner for sale? A new favorite from Saudi Arabia enters the game

American media report that Warner Bros. Discovery, which includes, among others, TVN may change its owner before Christmas. The new favorite in the race to take over the company is the Saudi investment fund PIF, which is considering purchasing the company together with the media and telecommunications giant Comcast.

Saudi fund

Puck News reports that Comcast CEO Brian Roberts was to go to the Arabian Peninsula to talk to representatives of the Saudi Arabian Public Investment Fund about a joint offer for Warner Bros. Discovery. The head of Comcast also visited the emerging entertainment city of Qiddiya, where parks related to the Universal brand are being built.

The PIF fund manages assets amounting to nearly USD 1 trillion. In September, the Saudis participated in a consortium that took over the game manufacturer Electronic Arts for $55 billion. Now they are to become one of the key players in the fight for WBD.

According to IBTimes.com, offers to purchase Warner Bros. Discovery applications are due by November 20. So far, Paramount Skydance was offering between $22 and $24. per share, which was considered by WBD to be too low an amount. The Writers Guild of America also raised objections to the transaction.

The potential takeover of WBD by Paramount Skydance raises questions about the future editorial line of CNN or TVN24. Paramount Skydance is controlled by the Ellison family, which has ties to US President Donald Trump. The White House host recently praised the conservative head of CBS News. According to speculations, if the Ellisons are determined, they may raise the offer to as much as $30. per share.

Netflix is ​​also expected to participate in the auction of some of WBD’s assets. However, this scenario raises antitrust concerns. Congressman Darrell Issa points out that such an entity would include film studios and the Harry Potter and DC Comics brands.

The media overseas indicate that Comcast needs a strong financial partner and that it may be the Arab PIF. It is not clear whether this is about taking over the entire company or only the film and streaming part. If no proposal satisfies WBD, the scenario of splitting into two companies is considered: Warner Bros. (HBO Max, film studios) and Discovery Global (including Discovery Channel, TVN and other linear stations).

Comcast

Comcast, operating since 1963 (initially as American Cable Systems), today provides Internet, cable television and telephone services in the USA under the Xfinity brand. In the UK and Italy, it owns the Sky and Sky Italia digital platforms, and recently sold Sky Deutschland to the RTL group for $175 million.

Comcast also owns NBCUniversal, which owns the NBC network and numerous thematic channels. Due to the decline in the value of linear television, the company’s management decided to separate Versant, which will receive, among others, USA Network, MSNBC, CNBC and Golf Channel.

In Poland, NBCUniversal owns E! Entertainment, 13th Street and Sci Fi. Comcast also co-owns the SkyShowtime streaming platform, created together with Paramount Skydance. According to Deadline.com, both companies have invested at least $1 billion in the website. In 2024, SkyShowtime generated EUR 275 million in revenue, but the loss was almost twice as high.