Warner Bros. Discovery is back in the takeover rumor mill. The stock jumped Tuesday after Variety reported that Paramount Skydance is putting together a giant $71 billion offer for the company. $WBD ( ▼ 0.91% )

Here is how the money reportedly breaks down. Paramount would bring $50 billion to the table. The remaining $21 billion would come from the sovereign wealth funds of Saudi Arabia, Qatar, and the UAE. Each fund would get a minority stake in Warner Bros. plus some studio perks that include access to IP, a movie premiere, and even a movie shoot.

This is not a one-off attempt. Warner Bros. Discovery has already rejected three prior bids from Paramount. The company set a November 20 deadline for all offers, and Comcast and Netflix are also said to be in the mix.

The Saudi fund has been throwing its weight around in entertainment this year. In September it agreed to a $55 billion take-private deal for Electronic Arts, which became the largest leveraged buyout in corporate history.