Paramount Skydance is trying to buy Warner Bros. Discovery and has upped its offer with a significant commitment: Oracle’s Larry Ellison has personally guaranteed $40.4 billion. This strengthens Paramount Skydance’s all-cash offer of $108 billion, which is a direct challenge to a current deal between Warner Bros. Discovery and Netflix.
David Ellison, who leads the offer and is the son of Larry Ellison, has increased the potential breakup fee to $5.8 billion – the same amount offered by Netflix – in case the deal doesn’t get approved by regulators. Paramount is still offering $30 per share for all Warner Bros. Discovery (WBD) stock, which would include both the company’s assets and debts.
Larry Ellison, worth an estimated $243 billion, recently provided financial backing for Skydance Media’s $8 billion acquisition of Paramount Global, a deal finalized in August. This current offer for Paramount also has the support of investment funds representing Saudi Arabia, Qatar, and Abu Dhabi, which have collectively pledged $24 billion.
To ease national security worries, some investors gave up certain control over their investments. Affinity Partners, a firm led by Jared Kushner, has also pulled out of the deal.
I’m seeing a lot of confidence from David Ellison and Paramount regarding their bid for Warner Bros. Discovery. In a statement released yesterday, he really drove home the point that their offer – thirty dollars a share, all in cash and fully funded – is the best path forward for WBD shareholders. He’s clearly positioning it as the deal that delivers the most value.
We believe our investment will benefit everyone connected with Warner Bros. Discovery by leading to more movies and TV shows, wider release options, and greater choices for viewers. We urge the Warner Bros. Discovery board to approve this deal, which we’re confident will ensure the continued success of this important Hollywood studio.
On December 17th, Warner Bros. Discovery’s board turned down an offer from Paramount, encouraging its investors to stay with the existing $83 billion deal with Netflix. This deal would see Netflix acquire Warner Bros. Discovery’s television and film studios, along with HBO, HBO Max, and its gaming properties. The board stated that Paramount had previously given shareholders misleading information regarding support from the Ellison family and emphasized the need for a firm commitment from Larry Ellison himself.
Paramount addressed the situation by guaranteeing certain financial obligations, confirming the value of the Ellison family trust’s assets, allowing more options for handling Warner Bros. Discovery’s debt, and agreeing to the same fee as Netflix for ending regulatory agreements.
Prince Sub Inc., which is owned by Paramount, has given more time for its offer to buy Warner Bros. Discovery (WBD) – the new deadline is January 21, 2026. For Paramount to successfully acquire WBD, both WBD’s shareholders and its board of directors must approve the deal, unless at least 90% of shareholders vote to accept it.
You can find more information about Paramount’s offer at strongerhollywood.com, and details about Netflix’s deal at netflixwbtogether.com.
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2025-12-22 18:14