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Larry Ellison gives $40.4 billion guarantee for Paramount's Warner Bros bid
- Larry Ellison, Oracle co-founder, agreed to personally guarantee $40.4 billion of equity financing for Paramount Skydance Corp.'s hostile bid for Warner Bros. Discovery.
- Refinancing by Netflix Inc. of part of a $59 billion bridge loan has intensified a bidding war valuing Warner Bros.' studio and streaming assets at $82.7 billion.
- Keeping its per-share price unchanged, Paramount, controlled by David Ellison, said amended terms do not change the $30-per-share all-cash offer, while rival bids involve large debt financings.
- Last week, Warner Bros. Discovery advised shareholders to reject Paramount Skydance Corp.'s bid, citing $54 billion in debt commitments and calling the financing `inferior and inadequate`.
- Regulatory and political scrutiny has intensified, as the Warner Bros. board supports Netflix Inc., which faces hurdles while Democratic Senator Elizabeth Warren of Massachusetts called the bid an `anti-monopoly nightmare` and Netflix reassured Warner Bros. staff it won’t close studios.
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173 Articles
Paramount does not want to be defeated in the bidding competition for Warner Bros. Discovery. Larry Ellison, father of Paramount boss David, now offers a billion-dollar guarantee, which rival Netflix is supposed to stand out after all.
·Germany
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The lack of support from Larry Ellison, the CEO's father of Paramount, was seen by Warner Bros as an obstacle. The billionaire intervention seeks to remove doubts that led the company to prefer Netflix.
·Portugal
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Coverage Details
Total News Sources173
Leaning Left38Leaning Right15Center65Last UpdatedBias Distribution55% Center
Bias Distribution
- 55% of the sources are Center
55% Center
L 32%
C 55%
13%
Factuality
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