Shinsegae invests $1 billion in Paramount-Warner merger to fuel Asian entertainment push

Shinsegae Group announced that its real-estate subsidiary will contribute $1 billion to the acquisition of Warner Bros. Discovery by Paramount Skydance, partnering with Paramount Skydance Chairman David Ellison and investor RedBird Capital Partners. The transaction will combine Paramount’s catalog—including “Mission: Impossible,” “Top Gun,” and “Star Trek”—with Warner Bros.’ assets such as “Harry Potter” and “Game of Thrones,” creating a broad portfolio of film, TV and streaming properties.

Shinsegae intends to leverage this portfolio to create experience-focused spaces within its Starfield shopping complexes and to develop a theme park at the Starbay City development in Hwaseong, Gyeonggi Province. The conglomerate also plans to explore collaborations that could link HBO Max and Paramount+ subscriptions to its retail membership programs and to co-produce Korean content for global platforms. Executives describe the investment as a stepping-stone toward becoming a platform company in the Asian content market, expanding the group’s business beyond conventional retail. The deal is expected to close on Tuesday.