Comcast CEO Brian Roberts recently visited Saudi Arabia as he has been exploring a possible bid for Warner Bros. Discovery, according to a source with knowledge of the matter.
While abroad, the exec met with reps for the Middle Eastern Country’s deep-pocketed Public Investment Fund, Puck News reported Tuesday.
The trip 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.
Roberts has been interested in buying Warner Bros. Discovery, though President Trump favors Paramount Skydance, as The Post previously reported.
Zaslav wants to spark a bidding war for WBD, believing there’s “a lot of big [male] energy” among potential bidders for his media empire.
Guests at the Los Angeles dinner for Zaslav included some of the players who have been eyeing a bid — Paramount Skydance CEO David Ellison and Netflix’s Ted Sarandos.
Roberts’ absence from the shindig sparked speculation he may have been seeking support from Saudi Arabia’s Public Investment Fund, or PIF, whose assets under management come to nearly $1 trillion.
While in Saudi Arabia, he met with two PIF officials, though the contents of that meeting are not known, two sources told Puck.
The exec also attended an annual gathering for financial big shots — alongside many other American CEOs — organized by Saudi Crown Prince Mohammed bin Salman, a source told The Post.
Additionally, Roberts visited Qiddiya, the home of a new “megacity of play” where Six Flags and “Dragon Ball Z”-themed amusement parks are being built, the source said.
Those building the city are interested in a Universal theme park, but nothing has been planned yet, the source added.
David Ellison, his powerful dad Larry Ellison and Paramount Skydance board member Gerry Cardinale visited Saudi Arabia last week, according to Puck. The outlet said the trio did not “meet with the Saudis,” and the purpose of the trip is not known.
Zas believes Warner Bros. Discovery could go for as much as $70 billion, or around $30 a share – a steep premium to the bid it’s already rejected from Paramount Skydance for $24 a share, The Post exclusively reported.
With Goldman Sachs and Morgan Stanley advising on a potential Comcast bid for WBD, Roberts met with Zaslav last week, according to a Semafor report.
While Comcast appears eager to make a bid, the company – which is worth about $100 billion – would likely need a major 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 recent multi-million-dollar donation to fund Trump’s new White House ballroom.
And a Comcast alliance with Saudi backers – whether it’s for a WBD deal or for a Qiddiya theme park – would likely be a tough sell to the slew of journalists at Comcast’s NBC News and WBD’s CNN, considering the nation’s history of violent persecution of journalists including Jamaal Kashoggi, the Puck report noted.
A Saudi partnership would also likely face regulatory scrutiny in the US.
The Post has sought comment from Comcast.
