Tech billionaire Larry Ellison has offered a personal guarantee of over $40bn to support Paramount Skydance’s bid for Warner Bros Discovery. WBD urged shareholders to reject Paramount’s $108.4bn hostile takeover bid, following their agreement to sell assets to Netflix for $82.7bn. Paramount denied misleading investors and stated Ellison would backstop $40.4bn for the deal. Unlike Netflix, Paramount bid for the entire company, including CNN and Cartoon Network, but WBD deemed their offer inadequate. Paramount’s CEO highlighted their commitment to acquiring WBD, emphasizing the value and growth potential of the deal.

Read more at Yahoo Finance: Larry Ellison provides personal guarantee for Paramount takeover of Warner Bros Discovery