Tencent Exits $1 Billion Warner Bros Bid, Citing U.S. Scrutiny

Chinese technology giant Tencent Holdings has withdrawn its financial backing from a major Hollywood takeover attempt. The move comes as foreign investment in U.S. media faces increased regulatory attention. Tencent was part of a bid by Paramount's Skydance Media to acquire Warner Bros Discovery. According to a U.S. securities filing, the Shenzhen-based company pledged $1 billion for the deal on December 1. It has now been removed as a financing partner. Sources indicate Tencent stepped back to avoid heightened scrutiny from U.S. regulators. Paramount's revised bid for Warner Bros is now an all-cash proposal. The deal's future without Tencent's significant investment is unclear. The exit highlights growing caution among foreign investors, particularly from China, regarding major acquisitions in the sensitive U.S. media and entertainment sector.