Chinese gaming and social media giant Tencent Holdings has withdrawn from Paramount Skydance Corp.’s bid to buy Warner Bros Discovery
ByELAINE KURTENBACH AP business writer
December 10, 2025, 2: 22 AM
BANGKOK — Chinese gaming and social media giant Tencent Holdings has withdrawn from Paramount Skydance Corp.‘s bid to buy Warner Bros Discovery, according to a revised filing of its takeover bid by Paramount with the U.S. Securities and Exchange Commission.
The filing seen Wednesday shows the Chinese company dropped its $1 billion financing commitment for the takeover bid.
Paramount said the Chinese company’s participation in the bid had raised concern, since it would be a “non-U.S. equity financing source,” that its bid might be subject to a review by the Committee on Foreign Investment in the United States, known as CFIUS. That was even though approval by CFIUS or by the Federal Communications Commission was not a condition of the bid.
The SEC filing, dated Monday, said that foreign sovereign wealth funds of Saudi Arabia, Abu Dhabi and Qatar, which are providing $24 billion for Paramount’s bid, had agreed to give up a right to participate in Warner Bros’ management to avoid the