Billionaire Larry Ellison is personally backing Paramount Skydance’s hostile offer to buy Warner Bros. Discovery for over $40 billion, escalating a bidding war with Netflix. Paramount’s revised offer includes an irrevocable personal guarantee from Ellison. Paramount urges shareholders to choose its offer over Netflix’s, which has President Trump’s attention. Stocks reacted: Paramount up 7%, Netflix down 1%, Warner Bros. up 3%.

Read more at Yahoo Finance: Larry Ellison puts $40 billion behind Paramount’s Warner Bros. bid