Oracle's Larry Ellison agrees to backstop $40.4 billion in financing for Paramount acquisition of Warner Bros.

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 ...