Paramount Skydance rejected a report that it’s working with a consortium of Middle Eastern sovereign wealth funds on a $71 billion offer for Warner Bros. Discovery, calling it “categorically inaccurate.” Variety reported on Tuesday that David Ellison’s Paramount Skydance is putting together the massive bid in conjunction with Saudi Arabia’s Public Investment Fund, the Qatar Investment Authority and the Abu Dhabi Investment Authority, citing anonymous sources with knowledge of the matter. “The