Shinsegae is backing Paramount's Warner Bros. takeover with $1B — strategic capital, not just private equity, is still paying up for scale in media consolidation. A Korean conglomerate writing checks

What happened: Shinsegae Group said its real estate arm, Shinsegae Property, will invest alongside Paramount Skydance Chairman and CEO David Ellison and RedBird Capital Partners in Paramount Skydance's acquisition of Warner Bros. Discovery. Key numbers: $1 billion investment by Shinsegae Group. Deal expected to close Tuesday. Why it matters: Shinsegae aims to use the deal for themed attractions, streaming subscriptions and content production, and to become a platform company in the Asian content market.

Shinsegae Group said its real estate arm, Shinsegae Property, will invest alongside Paramount Skydance Chairman and CEO David Ellison and RedBird Capital Partners in Paramount Skydance's acquisition of Warner Bros. Discovery.

Shinsegae aims to use the deal for themed attractions, streaming subscriptions and content production, and to become a platform company in the Asian content market.