Sou Hu Cai Jing·2026-01-04 13:39Core Viewpoint - Larry Ellison, co-founder and CTO of Oracle, is personally backing his son David Ellison's acquisition bid for Warner Bros. Discovery with a $40.4 billion irrevocable personal guarantee, addressing concerns about the financing capabilities of their company, Paramount Skydance [2][3]. Group 1: Acquisition Details - David Ellison's Paramount Skydance proposed an all-cash acquisition offer of $108 billion for Warner Bros. Discovery, equating to approximately $30 per share, which was rejected by the Warner Bros. Discovery board [2]. - The Warner Bros. Discovery board opted to partner with Netflix instead, agreeing to sell its film production and streaming assets for about $83 billion [2]. Group 2: Financing Concerns - The rejection of the acquisition offer was primarily due to doubts regarding the Ellison family's financing capabilities, with board members criticizing the financing plan as "unrealistic" and highlighting the risks associated with the "revocable family trust" [3]. - Larry Ellison's submission of the $40.4 billion guarantee aims to eliminate these financing concerns, as it represents about one-sixth of his personal net worth of $247.3 billion [3]. Group 3: Strategic Positioning - David Ellison emphasized that their acquisition proposal is the only way to maintain the overall integrity of Warner Bros. Discovery, contrasting with Netflix's plan that excludes the global television network division, which includes CNN [4]. - The decision now lies with the Warner Bros. Discovery board to choose between continuing their partnership with Netflix or negotiating with the buyer who has committed $40 billion in personal assets [4].