Larry Ellison, founder of Oracle, offers an ‘irrevocable personal guarantee’ of $40bn to back Paramount’s $108bn bid for Warner Bros. Ellison’s son, David, leads the bid to disrupt Netflix’s takeover of Warner Bros. Discovery, but Warner Bros. rejected Paramount’s $30-per-share offer, citing concerns about the guarantee’s structure.

Warner Bros. expresses doubt about the guarantee, as it is backed by the Ellison family trust rather than Larry Ellison himself. Paramount confirms the Ellison trust holds 1.16 billion Oracle shares worth $228bn and pledges not to alter trust assets during the sale process.

Paramount’s chairman, David Ellison, stresses the company’s commitment to acquiring Warner Bros. Discovery, citing a fully financed $30-per-share, all-cash offer. The bid aims to enhance content production, theatrical output, and consumer choice, urging Warner Bros. to secure the transaction for stakeholders.

Netflix’s $83bn takeover of Warner Bros. has sparked a competitive bidding war, with Paramount challenging the deal. Concerns arise over regulatory scrutiny, combining streaming giants Netflix and HBO Max. Cinemas fear fewer films in theaters, while Warner Bros. stands by the Netflix deal as “superior.”

Netflix secures $25bn in financing for the Warner Bros. takeover bid from banks like Wells Fargo and HSBC. Paramount’s bid, funded partially by sovereign wealth funds and private equity, faces scrutiny. While Paramount has not raised its $108bn offer, it matches Netflix’s $5.8bn pledge if the deal falls through.

Paramount extends the bid deadline to Jan 21, contingent on Warner Bros. retaining its cable networks division. Tencent, Affinity Partners, and RedBird Capital back the bid, as Ellison family trust assets remain unchanged. The battle for Warner Bros. ownership continues amid fierce competition.

Read more at Yahoo Finance: Larry Ellison offers $40bn in bid to revive Paramount’s Warner Bros takeover