Tencent Is Said to Weigh Passive Stake of Several Hundred Million in Paramount Skydance–WBD Deal

Overview

• Bloomberg-sourced reports say Tencent is considering investing several hundred million dollars as a non‑controlling backer in Paramount Skydance’s roughly $110 billion acquisition of Warner Bros. Discovery.
• An earlier $1 billion Tencent commitment tied to the deal was pulled in December over U.S. national‑security concerns, prompting a scaled‑back approach.
• The transaction’s financing includes about $47 billion in equity from the Ellison family and RedBird Capital Partners and roughly $54 billion in debt commitments from Bank of America, Citigroup, and Apollo.
• Tencent already holds a minority non‑voting stake and prior co‑financing and distribution ties with Skydance, though the newly reported investment remains unconfirmed and both companies declined comment.
• Shareholder votes are targeted for early spring with closing guided for the third quarter of 2026, while S&P placed Paramount Skydance on CreditWatch negative and markets showed only modest stock moves on the reports.