Larry Ellison to Personally Guarantee Paramount's Bid for Warner Bros. in Competition with Netflix

Deep News2025-12-23

Paramount Skydance Corp. has revised its acquisition offer for Warner Bros. Discovery, now including a personal financial guarantee from Oracle Chairman Larry Ellison, in an effort to outbid competing offers from Netflix.

According to a statement released on Monday, Ellison—one of the world's wealthiest individuals—has agreed to provide an irrevocable personal guarantee for $40.4 billion in equity financing for Paramount's proposed acquisition of Warner Bros. Ellison (whose son, David Ellison, currently serves as Paramount's CEO) has also committed not to revoke the Ellison Family Trust or engage in any asset transfers detrimental to the trust before the deal closes. Paramount's offer of $30 per share remains unchanged.

Paramount confirmed that the Ellison Family Trust holds approximately 1.16 billion shares of Oracle common stock and that all significant liabilities of the trust have been publicly disclosed. Additionally, Paramount has proposed increasing the regulatory reverse termination fee from $5 billion to $5.8 billion.

In its statement, Paramount noted, "To address Warner Bros.' need for 'flexibility' during the transition period, the amended merger agreement will further enhance Warner Bros.' flexibility in debt refinancing transactions, representations and warranties, as well as transitional operational covenants."

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