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

Core Viewpoint - The competition for the acquisition of Warner Brothers Discovery (WBD) intensifies as Paramount Skydance presents an amended all-cash offer, backed by a significant personal guarantee from Larry Ellison, aiming to outbid Netflix's previous deal [1][2]. Group 1: Offer Details - Paramount Skydance has made an amended offer that includes an irrevocable personal guarantee of $40.4 billion from Larry Ellison for equity financing and any damages claims against Paramount [2]. - The initial bid from Paramount was rejected by the WBD board, which preferred a deal with Netflix valued at $27.75 per WBD share, totaling an enterprise value of $82.7 billion [3]. - Paramount's revised offer is valued at $108.4 billion, proposing $30 per share, which was also rejected by WBD 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 value for WBD shareholders and enhancing content production and consumer choice [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].