"Paramount, which is run by David Ellison, has offered an "irrevocable personal guarantee" from his father, billionaire Oracle founder Larry Ellison, of $40.4 billion. Additionally, Paramount announced that it would increase and match Netflix's fee of $5.8 billion to be paid to WBD if the deal gets struck down in the regulatory process. Paramount's previous breakup fee was $5 billion."
"What's more, Paramount said its revised proposal includes "further improved flexibility to WBD on debt refinancing transactions, representations, and interim operating covenants." The updated offer also includes the publishing of records that show the Ellison family trust owns 1.16 billion shares of Oracle stock, which is an attempt to show WBD shareholders that the Ellisons can indeed finance their $40.4 billion of the proposed $108 billion all-cash offer."
Paramount offered an irrevocable $40.4 billion personal guarantee from Larry Ellison and raised its breakup fee to $5.8 billion to match Netflix's payment to WBD if regulators block the deal. The proposal adds flexibility for WBD on debt refinancing, representations, and interim operating covenants. Paramount published records showing the Ellison family trust owns 1.16 billion Oracle shares to demonstrate financing for its $108 billion all-cash offer. Paramount proposes $30 per share for all of WBD; Netflix offered $27.75 per share for select assets totaling $82.7 billion. Paramount extended its offer to January 21, 2026. WBD previously urged shareholders to reject Paramount's earlier bid; Netflix pledges continued theatrical distribution and says its deal offers more choice and industry value.
Read at GameSpot
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