Larry Ellison provides personal guarantee for Paramount takeover of Warner Bros Discovery

WBD had urged shareholders to reject $108.4bn hostile takeover bid from Paramount, which is controlled by the Ellisons, following $82.7bn Netflix deal

The tech billionaire Larry Ellison has agreed to provide a personal guarantee of more than $40bn for Paramount Skydance’s fight to gain control of Warner Bros Discovery, amid an extraordinary corporate battle over the entertainment giant.

WBD urged shareholders to reject a $108.4bn hostile takeover bid from Paramount – which is controlled by the Ellisons – last week, having agreed to sell its storied movie studios, HBO cable network and streaming service to Netflix in a $82.7bn deal earlier this month.