Paramount Responds To WBD Concerns About Hostile Bid, Offering New Larry Ellison Financing Guarantee

Paramount on Monday amended its hostile bid for Warner Bros. Discovery, adding an “irrevocable personal guarantee” from Larry Ellison in support of the $108 billion proposal. WBD last week raised a range of concerns about the offer, noting it had already formally accepted a bid from Netflix for $82.7 billion. Ellison, one of the world’s richest men, has long been a backer of Skydance, which is run by his son, David. While the elder Ellison is a participant in the proposed WBD transaction, the board of WBD ...