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Ellison steps in with personal guarantee as Paramount presses hostile WBD bid
Paramount strengthened its Warner Bros.
Paramount has escalated its hostile takeover attempt for Warner Bros. Discovery by securing a personal guarantee from Oracle co founder Larry Ellison covering $40.4 billion of the equity portion of the deal. The move is aimed at countering repeated objections from the WBD board, which has questioned the credibility and structure of Paramount’s financing while favoring a rival offer from Netflix. Paramount also agreed to open details of the Ellison family trust, confirmed to hold 1.16 billion Oracle shares, and raised its breakup fee to $5.8 billion, matching Netflix’s terms.