Shinsegae to invest $1 bil. in Paramount's Warner Bros. deal

Retail conglomerate Shinsegae Group will invest $1 billion in Paramount Skydance’s acquisition of Warner Bros. Discovery, seeking to expand its retail business into global entertainment and content. The group announced Tuesday that its real estate and development arm, Shinsegae Property, will take a $1 billion stake in the combined company, alongside investors including Skydance co-CEO David Ellison and U.S. investment firm RedBird. The deal is expected to close Tuesday (local time). The investment will give Shinsegae Group access to intellectual property from Paramount and Warner Bros., including Hollywood blockbuster franchises such as “Mission: Impossible,” “Star Trek” and “Top Gun,” as well as “Harry Potter” and “Game of Thrones.” The group said it plans to combine its retail and entertainment businesses to build a platform that brings shopping and culture together, with ambitions to become a leading content hub in Asia. “This investment will go beyond a simple equity investment and serve as a stepping stone for Shinsegae Group to diversify into a new business