US EditionLarry Ellison gives $40.4 billion guarantee for Paramount's Warner Bros bid
Larry Ellison's $40.4 billion personal guarantee backs Paramount Skydance’s $108 billion hostile bid to acquire Warner Bros., intensifying competition with Netflix in US media consolidation.
- On Dec. 22, 2025, Warner Bros. Discovery confirmed receipt of an amended, unsolicited $30 per share tender offer from Paramount Skydance and said the Board will carefully review it consistent with the Netflix Merger Agreement after previously rejecting the Dec. 8 offer.
- Paramount also increased its fee and extended the tender deadline to 5 p.m. ET on Jan. 21, after David Ellison's Monday submission backed by Larry Ellison.
- Paramount disclosed its financing, relying on $40.7 billion in equity—including $11.8 billion from the Ellison family—and $54 billion in debt, with 397,252 shares tendered as of Dec. 19.
- The Board reiterated it will keep its Netflix recommendation, saying it will not modify its stance on Netflix’s $82.7 billion deal while advising WBD stockholders not to act on Paramount’s tender.
- The filing notes multiple closing conditions and risks, including WBD’s global networks business retention, a 90% of outstanding shares threshold without board approval, and $4.3 billion in potential costs if the offer fails.
261 Articles
261 Articles
Backed by ‘Bank of Dad,’ Paramount Makes Another Push For Warner Bros. Discovery
Paramount Skydance’s David Ellison had to make one thing clear to Warner Bros. Discovery: Don’t worry, my dad’s got this. In an amended bid for WBD on Monday, Paramount pinky-promised the financial backing of Larry Ellison, the Oracle founder, world’s fifth-richest man, and longtime backer of son David’s media and entertainment ambitions. Is it enough to shift the odds? Return of Debtflix The financing of Paramount’s all-cash $109 billion offer …
Paramount bids for Warner Bros. with $40.4B guarantee from Larry Ellison
Skydance-owned Paramount amended its hostile bid offer for Warner Bros. Discovery on Monday, announcing Larry Ellison would personally back the bid. Paramount says the amendment follows a Warner Bros. request for a personal guarantee from Larry Ellison, Oracle founder, father of Paramount CEO David Ellison, and a longtime ally of President Donald Trump. Larry Ellison agreed to personally guarantee $40.4 billion of the equity financing for the de…
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Warner Bros. Discovery Confirms Receipt of Amended, Unsolicited Tender Offer from Paramount Skydance
NEW YORK, Dec. 22, 2025 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or "WBD") (NASDAQ: WBD) today confirmed that it has received an amended, unsolicited tender offer from Paramount Skydance Corporation ("Paramount Skydance" or " PSKY") (NASDAQ: PSKY)…
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