""Larry Ellison is a threat to journalism and democracy," one critic warned of the mogul's newest media power play. Oracle co-founder, CTO and Executive Chairman Larry Ellison listens as U.S. President Donald Trump speaks to reporters in the Oval Office of the White House on February 3, 2025, in Washington, D.C.Anna Moneymaker / Getty Images Oracle co-founder Larry Ellison, an ally of US President Donald Trump and one of the richest men in the world, pledged on Monday to provide $40.4 billion to help finance his son's hostile bid to acquire Warner Bros. Discovery, the owner of CNN, HBO Max, and other major media assets."
"The billionaire's personal financing guarantee was announced in a press release issued by Paramount Skydance, a company headed by David Ellison, Larry Ellison's son. "Paramount has repeatedly demonstrated its commitment to acquiring WBD," David Ellison said in a statement. "Our $30 per share, fully financed all-cash offer was on December 4th, and continues to be, the superior option to maximize value for WBD shareholders." Paramount launched its $108 billion effort to take over Warner Bros. earlier this month, days after Netflix and Warner Bros. leadership announced a proposed merger deal."
Larry Ellison pledged $40.4 billion in personal financing to support his son's hostile bid to acquire Warner Bros. Discovery, which owns CNN and HBO Max. Paramount Skydance presented a $30 per share, fully financed all-cash offer filed on December 4 as a superior option to maximize shareholder value. Paramount launched a roughly $108 billion effort to take over Warner Bros. shortly after Netflix and Warner Bros. leadership announced a proposed merger. Antitrust advocates warn either merger could harm journalism, television writers, media competition, and consumers. Warner Bros. board members raised concerns about the absence of a concrete financial guarantee; Larry Ellison's net worth is estimated at $243 billion.
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