US EditionLarry Ellison gives $40.4 billion guarantee for Paramount's Warner Bros bid
Larry Ellison's $40.4 billion personal guarantee supports Paramount Skydance’s $108 billion bid, aiming to outbid Netflix for control of Warner Bros. Discovery in a key streaming content battle.
- 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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189 Articles
Larry Ellison personally guarantees Paramount bid for Warner Bros. | Honolulu Star-Advertiser
Paramount said today that Larry Ellison, the father of Paramount CEO David Ellison, is personally guaranteeing the roughly $40.4 billion in equity that the company is offering as part of its bid for Warner Bros. Discovery.
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.
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.
Paramount gives $40.4B Larry Ellison guarantee backing in Warner Bros. Discovery bid
'Paramount continues to offer to purchase, for $30 per share in cash, 100% of the outstanding shares of WBD, and therefore will assume all assets and liabilities of WBD,' Paramount says - Anadolu Ajansı
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