Core Insights - Paramount is attempting to acquire Warner Bros. Discovery, while Warner Bros. is pursuing a deal with Netflix, which has agreed to acquire it for over $80 billion [2][4] - Larry Ellison, co-founder of Oracle, has personally guaranteed over $40 billion of equity financing for Paramount's offer, which may influence the acquisition dynamics [3][6] Group 1: Paramount's Offer - Paramount Skydance has revised its offer for Warner Bros. Discovery to address concerns raised by Warner Bros. in a letter to shareholders [2][7] - The current offer from Paramount stands at $30 cash per share, which Warner Bros. has labeled as "illusory" [6] Group 2: Market Reactions - Following the announcement of the personal guarantee by Larry Ellison, shares of Paramount rose by more than 5%, while Warner Bros. shares increased by approximately 3%, and Netflix shares fell by about 1% [5][6] Group 3: Financing and Stakeholder Involvement - RedBird Capital Partners, a stakeholder in Paramount, is providing financing for the proposed deal, with a personal guarantee from Larry Ellison to support the equity financing [6]

Core Viewpoint - Warner Bros. Discovery (WBD) shareholders are faced with a decision to tender their shares to Paramount for $30 in cash or to stick with the board's recommendation to sell the company's studio and streaming assets to Netflix for $27.75 per share [1][2][3]. Group 1: Shareholder Decisions - Shareholders have until January 8 to tender their shares to Paramount, although this deadline may be extended [2]. - If Paramount acquires 51% of WBD shares, it would gain control of the company despite the board's agreement to sell assets to Netflix [3]. - The decision to tender shares presents a game theory element, as shareholders may prefer a bidding war rather than focusing solely on the best buyer [4]. Group 2: Reasons to Tender - Two main reasons for shareholders to tender their shares to Paramount include the belief that Paramount's $30 offer is more valuable than Netflix's bid and the desire to instigate a bidding war [5]. - Shareholders may perceive a higher likelihood of regulatory approval for Paramount's offer compared to Netflix's, especially given the potential value of Discovery Global [6][10]. - Paramount's all-cash offer is seen as more straightforward compared to Netflix's bid, which includes equity with uncertain value [8]. Group 3: Reasons Not to Tender - Some shareholders may prefer not to tender their shares to encourage a bidding war, believing that Paramount will raise its bid if it sees limited interest [12]. - There are concerns that the Netflix proposal, which includes equity, may ultimately be more valuable if a mystery buyer emerges for Discovery Global [13]. - Ensuring WBD splits Discovery Global is viewed as a safer option in case regulatory hurdles block a Paramount-WBD merger [14][15]. Group 4: Financing and Regulatory Concerns - Paramount has made adjustments to its financing structure to address concerns, including a personal guarantee from Oracle founder Larry Ellison for $40.4 billion [16]. - The financing for Paramount's bid involves significant contributions from Middle Eastern sovereign wealth funds, raising potential regulatory scrutiny [20]. - WBD's board has expressed concerns about the source of funding for Paramount's bid, preferring more transparency regarding the Ellison family's financial commitment [18][19].

Samuel Boivin / NurPhoto via Getty Images The battle for ownership of Warner Bros. Discovery continues. Key Takeaways The latest tweaks to Paramount Skydance's offer for Warner Bros. Discovery address some of the concerns outlined by Warner Bros. last week. Stocks of all three companies involved in the battle for Hollywood dominance—the other being Netflix—moved Monday on the latest developments. Paramount wants Warner Bros. Warner Bros. wants Netflix. A tech billionaire hopes his personal guarantee ...

Paramount is sweetening its hostile takeover bid for Warner Bros. Discovery with an “irrevocable personal guarantee” from Larry Ellison, who is putting up billions of dollars to back the deal for his son’s company. On Monday, Skydance-owned Paramount announced that Larry Ellison — the founder of Oracle and father of Paramount CEO David Ellison — had personally agreed to be responsible for $40.4 billion of equity financing for the company's offer, as well as any damage claims. Paramount had previously sai ...

Core Viewpoint - A significant increase in multi-billion-dollar deals is prompting bankers and advisers to prioritize work over holiday vacations, indicating a busy period in the investment banking sector [1] Group 1 - The surge in deal-making activity is leading financial professionals from Wall Street to Canary Wharf to prepare for a demanding schedule [1] - Bankers and advisers are packing laptops alongside holiday presents, highlighting the urgency and importance of ongoing transactions [1] - The upcoming two weeks will see many professionals cut short their holiday plans to accommodate the influx of deals [1]

Oracle co-founder Larry Ellison has stepped in to personally guarantee $40.4 billion in Paramount Skydance's latest effort to pry Warner Bros Discovery away from selling its prized Hollywood assets to... ...

Group 1 - Netflix has secured $25 billion in new bank financing to replace part of its $59 billion bridge loan for acquiring Warner Bros. Discovery's studios and streaming business [1][2] - The refinancing includes a $5 billion senior unsecured revolving credit facility and two senior unsecured delayed-draw term-loan facilities of $10 billion each [2] - The acquisition deal with Warner Bros. Discovery has an equity value of $72 billion, or $27.75 per share, with an enterprise value of $82.7 billion, expected to close after the separation of WBD's global networks business in Q3 2026 [4] Group 2 - Paramount has amended its hostile tender offer for Warner Bros. Discovery, addressing concerns from WBD's board, which preferred Netflix's deal [2][5] - Larry Ellison, co-founder of Oracle, has provided a personal guarantee of $40.4 billion for Paramount's cash offer, which has been raised to $30 per share [5] - WBD stockholders have until January 20 to tender their shares directly to Paramount [6]

Oracle cofounder Larry Ellison is raising the stakes in the battle for Hollywood’s future, personally intervening to salvage his son David Ellison’s hostile takeover bid for Warner Bros. Discovery. On Monday, David’s company, Paramount Skydance, announced the elder Ellison had provided an “irrevocable personal guarantee” of $40.4 billion to finance the deal, directly countering claims that the company’s funding was unreliable.​ It’s the latest turn in the high-profile tug-of-war for Warner Bros. Discovery ...

Shares in Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) spiked Monday morning after Larry Ellison, the centibillionaire founder and executive chairman of Oracle (ORCL), agreed to personally backstop $40.4 billion in equity financing for Paramount's proposed acquisition of Warner Bros. Paramount shares rose by more than 5% in early trading Monday, while Warner Bros. shares rose over 4%. In a securities filing Monday morning, Paramount Skydance — led by Larry Ellison's son, David Ellison — sa ...

据周一发布的声明，埃里森已同意为其子大卫.埃里森担任首席执行官的派拉蒙提供404亿美元股权融资 的个人担保，用于支持派拉蒙提出的1084亿美元收购华纳兄弟的方案。埃里森还承诺不撤销埃里森家族 信托。派拉蒙确认，埃里森家族信托持有约11.6亿股甲骨文普通股，且该信托的所有重大负债均已公开 披露。此外，派拉蒙还将监管反向终止费从50亿美元提高至58亿美元。 周一盘前，华纳兄弟探索公司(WBD.US)上涨4%，报28.88美元。消息面上，派拉蒙天空之舞(Paramount Skydance,PSKY.US)修订了对该公司的收购要约，在维持每股30美元现金报价不变的情况下，新增甲骨 文(ORCL.US)董事长拉里.埃里森的个人财务担保，以期击败奈飞(NFLX.US)的竞争性报价。 ...