Is the Saudi wealth fund preparing a bid for US media giant Warner Bros?

Online rumours are swirling that Saudi Arabia's sovereign wealth fund could mount a surprise bid for American media giant Warner Bros. Discovery, as Crown Prince Mohammed bin Salman prepares to visit the White House.

A bid would pit it against Paramount-Skydance, Netflix and Comcast, who are all vying to acquire the $57 billion company.

Warner Bros. Discovery is one of the biggest media conglomerates in the US. It controls the rights to the popular DC Comics and Harry Potter franchises and owns a slew of major names in news and entertainment, including CNN, HBO, the Discovery Channel and TNT Sports.

Comcast CEO Brian Robert's visit to Saudi Arabia last month has triggered speculation that the company could launch a joint bid with the Saudi Public Investment Fund.

Roberts reportedly met with PIF officials and visited the PIF-led Qiddiya tourism megaproject during his visit to the kingdom.

Paramount Skydance, owned by the son of the Trump-allied tech billionaire Larry Ellison, had an opening bid rejected but is expected to submit a second offer before the 20 November deadline.

The PIF has invested billions into the global entertainment sector in recent years as the kingdom looks to diversify its economy under MBS's Vision 2030 initiative.

Earlier this year, it sealed the gaming industry's second-largest acquisition after agreeing to buy EA for $55 billion.

It has become a major player in the global sports industry, acquiring Premier League club Newcastle United, creating the LIV Golf tournament, and financing a mixed martial arts rival to the UFC.

The rumours about a potential Warner Bros bid come ahead of MBS's first official visit to the US in eight years, where he is expected to discuss deepening business and tech ties with US president Donald Trump

Trump will be looking to progress a commitment by MBS to invest as much as $600 billion in the US made during the US president's visit to the kingdom in July.

The visit, which starts on 18 November, will include an investment summit between US and Saudi business leaders.