Comcast’s Brian Roberts visited Saudi Arabia to – Business News
Comcast CEO Brian Roberts lately visited Saudi Arabia as he has been exploring a attainable bid for Warner Bros. Discovery, in accordance to a source with information of the matter.
While overseas, the exec met with reps for the Middle Eastern Country’s deep-pocketed Public Investment Fund, Puck News reported Tuesday.
The journey coincided with a high-profile dinner the Simon Wiesenthal Center hosted on Oct. 30 to honor WBD’s CEO David Zaslav for his work combatting antisemitism.
Comcast boss Brian Roberts missed a flashy dinner honoring Warner Bros. Discovery CEO David Zaslav as he traveled in Saudi Arabia, in accordance to a report. Comcast
Roberts has been fascinated by shopping for Warner Bros. Discovery, although President Trump favors Paramount Skydance, as The Post beforehand reported.
Zaslav desires to spark a bidding conflict for WBD, believing there’s “a lot of big [male] energy” amongst potential bidders for his media empire.
Guests on the Los Angeles dinner for Zaslav included some of the gamers who’ve been eyeing a bid — Paramount Skydance CEO David Ellison and Netflix’s Ted Sarandos.
Roberts’ absence from the shindig sparked hypothesis he might have been looking for help from Saudi Arabia’s Public Investment Fund, or PIF, whose belongings beneath management come to practically $1 trillion.
While in Saudi Arabia, he met with two PIF officers, although the contents of that assembly are usually not identified, two sources informed Puck.
The exec additionally attended an annual gathering for financial massive photographs — alongside many different American CEOs — organized by Saudi Crown Prince Mohammed bin Salman, a source informed The Post.
Additionally, Roberts visited Qiddiya, the home of a new “megacity of play” the place Six Flags and “Dragon Ball Z”-themed amusement parks are being constructed, the source stated.
Warner Bros. Discovery CEO David Zaslav was honored on the Simon Wiesenthal Center for his work combating antisemitism. REUTERS
Those building the town are fascinated by a Universal theme park, however nothing has been deliberate but, the source added.
David Ellison, his highly effective dad Larry Ellison and Paramount Skydance board member Gerry Cardinale visited Saudi Arabia final week, in accordance to Puck. The outlet stated the trio didn’t “meet with the Saudis,” and the aim of the journey will not be identified.
Zas believes Warner Bros. Discovery may go for as a lot as $70 billion, or round $30 a share – a steep premium to the bid it’s already rejected from Paramount Skydance for $24 a share, The Post completely reported.
Start your day with all you need to know
Morning Report delivers the most recent information, videos, pictures and more.
Thanks for signing up!
With Goldman Sachs and Morgan Stanley advising on a potential Comcast bid for WBD, Roberts met with Zaslav final week, in accordance to a Semafor report.
While Comcast seems keen to make a bid, the company – which is price about $100 billion – would doubtless need a main backer to fund the transaction.
Comcast is spinning Trump-hating CNBC into a new company as Roberts has been cozying up to Trump — taking lefty heat for Comcast’s latest multi-million-dollar donation to fund Trump’s new White House ballroom.
And a Comcast alliance with Saudi backers – whether or not it’s for a WBD deal or for a Qiddiya theme park – would doubtless be a robust sell to the slew of journalists at Comcast’s NBC News and WBD’s CNN, contemplating the nation’s historical past of violent persecution of journalists together with Jamaal Kashoggi, the Puck report famous.
A Saudi partnership would additionally doubtless face regulatory scrutiny within the US.
The Post has sought remark from Comcast.
