Paramount (PSKY.US) speaks out: The report of a Middle Eastern consortium teaming up to purchase Warner Brothers Discovery (WBD.US) for $71 billion is severely inaccurate.

According to Zhixin Finance APP, Paramount Skydance (PSKY.US) company stated that reports about its collaboration with a consortium of Middle Eastern sovereign wealth funds and the proposed $71 billion acquisition of Warner Bros. Discovery (WBD.US) are "completely inaccurate." According to sources, Paramount Skydance, owned by David Ellison, is currently planning a joint bid with the Saudi Public Investment Fund, Qatar Investment Authority, and Abu Dhabi Investment Authority.