Paramount Skydance on Monday doubled down on its hostile bid for Warner Bros. Discovery, amending its $30-per-share all-cash offer to include a massive personal guarantee from Oracle billionaire Larry Ellison.
The media company said Ellison has agreed to personally back $40.4 billion of the equity financing for the deal, a move aimed at countering Warner Bros. Discovery’s claims that Paramount’s earlier financing assurances were inadequate.
Paramount said it remains prepared to acquire 100% of Warner Bros. Discovery’s outstanding shares for $30 apiece in cash and would assume all of the company’s assets and liabilities under the revised proposal.
The amendment comes after Warner Bros. Discovery argued in regulatory filings and media appearances that the Ellison family trust — despite holding the majority of Ellison’s assets — was not sufficient backing for the deal and demanded a personal guarantee that Paramount says was never raised during months of prior negotiations.
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