Paramount Global is seeking nearly $24 billion in funding from Gulf investors to support its massive $110 billion acquisition of Warner Bros. Discovery.

According to reports, the financing push is being led by Public Investment Fund, which is expected to contribute about $10 billion. Other potential backers include Qatar Investment Authority and Abu Dhabi-based L’imad Holding.

The deal, first announced in February, is valued at $110 billion, with an equity portion of $81 billion, and is expected to be finalised in the third quarter of the year.

If completed, the merger would unite major media assets, including CNN and CBS, strengthening the combined company’s ability to compete with streaming giants as traditional television continues to lose audiences.

Despite the scale of foreign investment, reports indicate that the Gulf investors will not hold voting rights in the new entity, and Paramount does not anticipate regulatory challenges from U.S. authorities over the funding arrangement.