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

The war for the future of Warner Brothers continues, as Paramount Skydance announced Monday an amended all-cash offer for the legacy movie studio. The offer includes an “irrevocable personal guarantee” from a major backer, Oracle billionaire Larry Ellison, to provide tens of billions in equity financing for the deal. It’s the latest move by Ellison’s son, David Ellison — the CEO of Paramount Skydance — to pry the potential acquisition loose from his competition, the streaming giant Netflix. “Larry Elli ...