"irrevocable personal guarantee"
"revocable trust is no replacement for a secured commitment."
"elected to address WBD's current stated concerns."
"Paramount has repeatedly demonstrated its commitment to acquiring WBD,"
Paramount announced that Larry Ellison will be personally responsible for $40.4 billion of equity financing and any damage claims supporting Paramount's offer for Warner Bros. Discovery. Paramount previously indicated that the Ellison family trust would back more than $40 billion, and Warner's board criticized the arrangement as a revocable trust that was 'no replacement for a secured commitment.' Paramount stated that Larry Ellison holds the majority of the trust's assets and said it 'elected to address WBD's current stated concerns.' Paramount increased its breakup fee to $5.8 billion and extended the tender deadline to Jan. 21. The cash offer remains $30 per share.
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