Paramount vs Netflix: Ellison guarantees US$40 billion for son’s Warner Bros bid

Oracle tech tycoon Larry Ellison is offering a US$40.4 billion personal guarantee to back Paramount’s hostile bid for Warner Bros Discovery, deepening a bidding war with Netflix, a statement said on Monday. The amended proposal, worth a total US$108 billion from the company run by Ellison’s son David, addresses concerns raised by Warner Bros’ board, which saw the Paramount bid as too risky and asked shareholders to accept a competing buyout offer from Netflix. Netflix shocked the industry on...