Paramount renews bid for Warner Bros, ensuring $40 billion Larry Ellison backing

Core Viewpoint - The competition for Warner Brothers Discovery (WBD) intensifies as Paramount Skydance, backed by Larry Ellison, presents an amended all-cash offer to acquire the legacy movie studio, aiming to outbid Netflix's previous deal [1][3]. Group 1: Offer Details - Paramount Skydance has made an amended offer that includes a personal guarantee from Larry Ellison for $40.4 billion in equity financing, which is a new addition to the proposal [2]. - The initial bid from Paramount was rejected by WBD's board, which preferred a deal with Netflix valued at $27.75 per share, totaling an enterprise value of $82.7 billion [3]. - Paramount's latest offer is valued at $108.4 billion, proposing $30 per share, which was also rejected by WBD's board as "illusory" [4]. Group 2: Strategic Intent - David Ellison, CEO of Paramount Skydance, emphasized the commitment to acquiring WBD, stating that their offer is superior for maximizing shareholder value and enhancing content production [5]. - The amended offer aims to address WBD's concerns regarding the financing of Paramount's previous bid, indicating a strategic effort to secure the acquisition [4].