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Paramount-WBD: 49.5% for Gulf funds
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Saturday, September 19, 2026
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The Gulf’s influence across energy, media and global investment is taking center stage. The US has also cleared sovereign wealth funds from the UAE, Saudi Arabia and Qatar to hold up to 49.5% of the proposed Paramount-Warner entity’s equity without voting rights. Meanwhile, Fitch has warned that Morocco’s $41 billion World Cup infrastructure programme could expose public finances to cost overruns and additional government liabilities. And Saudi Arabia is preparing to ship around 60 million barrels of crude from its Gulf port in September and October, helping offset disrupted Red Sea exports.
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US Clears Gulf Funds To Exceed Foreign Ownership Cap In Paramount-Warner Deal
What Happened
The US Federal Communications Commission has approved a request allowing sovereign wealth funds from the UAE, Saudi Arabia and Qatar to collectively hold up to 49.5% of the equity in the proposed Paramount Skydance-Warner Bros Discovery company. The investment will carry no voting rights. The FCC waived the 25% foreign-ownership limit that applies to companies holding US broadcast licences.
Why It Matters
The Gulf funds are backing the proposed $110 billion Paramount-Warner transaction with about $24 billion in equity. Saudi Arabia’s Public Investment Fund is expected to contribute $10 billion, while Qatar Investment Authority and Abu Dhabi’s L’imad Holding are each expected to provide $7 billion. Under the FCC approval, foreign investors cannot influence management, programming or content decisions.
What's Next
The merger still faces legal hurdles. A US judge has temporarily blocked the takeover pending a March trial following a challenge by 12 US states, while the Justice Department and FCC have already approved the transaction. If completed, the Ellison family and RedBird Capital Partners would retain 100% of the voting shares, while Gulf investors would hold equity without governance rights.
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Fitch Warns Morocco’s $41 Billion World Cup Infrastructure Push Risks Cost Overruns
What Happened
Morocco’s $41 billion infrastructure spending programme ahead of the 2030 Fifa World Cup could create risks for public finances if costs exceed estimates, Fitch Ratings said. The country is co-hosting the tournament with Spain and Portugal and is investing heavily in transport and other infrastructure. Fitch warned that higher government support or liabilities from state-backed companies and public-private partnerships could eventually end up on the sovereign balance sheet.
Why It Matters
Morocco is financing much of its World Cup infrastructure through state-backed companies, public-private partnerships and off-budget entities. Fitch said cost overruns or additional government support could increase pressure on public finances. The rating agency expects Morocco’s fiscal deficit to widen to 4% of GDP in 2026, from 3.5% in 2025, while capital spending is expected to remain elevated ahead of the tournament.
What's Next
Fitch expects the fiscal deficit to average 3.4% of GDP in 2027 and 2028 as temporary spending pressures linked to the Iran conflict ease. However, capital expenditure is forecast to average 7.5% of GDP during those years. Fitch maintained Morocco’s BB+ long-term issuer rating with a stable outlook, citing sound macroeconomic policies and adequate external liquidity buffers.
Saudi Arabia To Boost Gulf Oil Exports To 60 Million Barrels In September And October
What Happened
Saudi Arabia has sold around 60 million barrels of crude from Aramco’s Ras Tanura terminal for September and October loading, with shipments moving via ship-to-ship transfers at Oman’s Sohar port, according to traders cited by Reuters. Gulf exports are expected to average 1 million to 1.5 million barrels per day, similar to or slightly above August levels, as Saudi Arabia works to offset disrupted shipments from its Red Sea port of Yanbu.
Why It Matters
The additional Gulf supplies could help replace some of the crude volumes lost after an attack on Saudi Arabia’s East-West pipeline. The increase has also weighed on global oil prices, with futures falling more than $1 a barrel on Friday. Asian refiners, particularly in China and South Korea, are among the main buyers, with some cargoes heading to India and Japan.
What's Next
Saudi Arabia is reportedly seeking to restore about half of the East-West pipeline’s capacity within days. Meanwhile, ship-to-ship transfers outside the Gulf are providing an alternative route for Asian buyers. Japan’s oil refiners say they have secured sufficient crude supplies through November, although tanker costs have surged, with rates for some Fujairah-to-Asia voyages reaching record levels.
How Jennifer Aniston’s LolaVie brand grew sales 40% with CTV ads
For its first CTV campaign, Jennifer Aniston’s DTC haircare brand LolaVie had a few non-negotiables. The campaign had to be simple. It had to demonstrate measurable impact. And it had to be full-funnel.
LolaVie used Roku Ads Manager to test and optimize creatives — reaching millions of potential customers at all stages of their purchase journeys. Roku Ads Manager helped the brand convey LolaVie’s playful voice while helping drive omnichannel sales across both ecommerce and retail touchpoints.
The campaign included an Action Ad overlay that let viewers shop directly from their TVs by clicking OK on their Roku remote. This guided them to the website to buy LolaVie products.
Discover how Roku Ads Manager helped LolaVie drive big sales and customer growth with self-serve TV ads.
The DTC beauty category is crowded. To break through, Jennifer Aniston’s brand LolaVie, worked with Roku Ads Manager to easily set up, test, and optimize CTV ad creatives. The campaign helped drive a big lift in sales and customer growth, helping LolaVie break through in the crowded beauty category.
👨💻From Smashi Business’ Desk
Dubai based The Giving Movement CEO Rania Masri El Khatib has spoken out after Macklemore was removed from Ed Sheeran’s US tour following his support for Palestine.
The Glazer family, Manchester United's majority owners, are reportedly among the parties circling a potential takeover of Saudi giants Al-Ittihad.
A reported five-man consortium lead by Cristiano Ronaldo is pushing a joint bid to buy Al-Nassr from PIF, with a $100M minimum buy-in per partner.
The Israeli Air Force has used Apple’s newly unveiled iPhone Duo in an Instagram post featuring Israeli soldiers in Gaza, with the images displayed across the foldable phone under the headline “This is Duo”
🔍In other news…
Serbia opens Israeli drone assembly plant
PwC announces fall in revenue for first time in two decades due to Middle East business loss
Abu Dhabi Wealth Fund L’imad Eyes Stake in Apollo’s Atlas Air Cargo Unit
Abu Dhabi Pins Hopes on F1 and Events Calendar to Reverse a 14.2% Drop in Hotel Guests
Mubadala Capital leads as AI infrastructure provider Crusoe raises $3.9 billion.
Etihad named official airline of UAE Wrestling Federation
🦄 World of Startups
Tabby, Saudi-based BNPL, raised $233M in a Series F equity round at a $6.5B valuation.
OCTA, USA-based accounting platform, raised $3.5M in a seed funding round led by Middle East Venture Partners (MEVP) and joined by Wa'ed Ventures, Plug and Play, and A-typical Ventures, Sukna Ventures and Sadu Capital.
Rize, Saudi-based residential rental platform, secured a $50M (SAR 187.5M) asset-backed Murabaha facility from Jadwa Investment.
Bekia, Egypt-based recycling technology startup, raised $765K in a seed funding round led by Madica, joined by Catalyst Fund and Jambaar Capital.
Lendo, Saudi-based Shariah-compliant debt crowdfunding marketplace, secured a commitment of up to $200M (SAR 750M) from Quantic Financial Solutions GmbH, Austria-based asset management fund.
Saudi Arabian building materials platform BRKZ has secured $31 million in new funding.
Saudi digital payments company Barq has raised $329.5 million in a Series A round, valuing the fintech at $1.85 billion.
