Paramount has reaffirmed its bid to acquire Warner Bros. Discovery, offering $30 per share in cash and backing the proposal with a $40.4 billion personal equity guarantee from billionaire Larry Ellison, despite the target company’s board urging shareholders to reject the offer.
In a statement issued on Monday, Paramount said it remains committed to purchasing 100% of Warner Bros. Discovery’s outstanding shares, a move that would see it assume all of the company’s assets and liabilities. The offer values Warner Bros. Discovery at an enterprise value of approximately $108.4 billion.
To strengthen its proposal, Paramount confirmed that Larry Ellison, founder of Oracle and controlling shareholder of the company, has provided an irrevocable personal guarantee covering potential claims against Paramount, alongside equity financing worth $40.4 billion. The guarantee is intended to address concerns raised by Warner Bros. Discovery during negotiations.
Ellison, one of the world’s wealthiest individuals and the father of Paramount’s chief executive, David Ellison, has played a central role in backing the takeover bid. He has also committed not to revoke or transfer assets from the Ellison Family Trust while negotiations continue, removing what Warner’s board had cited as a key risk factor.
The renewed bid follows Warner Bros. Discovery’s decision earlier this month to reach an agreement with Netflix involving its studio and streaming assets, a transaction valued at around $82–83 billion. That agreement would separate Warner’s cable television networks from its core content operations, a structure Paramount has criticised, arguing that its proposal preserves the company as a single, integrated media group.
Despite Paramount raising its proposed regulatory reverse termination fee to $5.8 billion to match Netflix’s offer, Warner Bros. Discovery’s board has formally urged shareholders to reject Paramount’s bid. The board said the Netflix transaction provides greater execution certainty, while Paramount maintains its offer delivers superior long-term value.
Paramount has rejected claims that its financing lacked credibility, stating that concerns about the Ellison family trust were not raised during more than two months of prior negotiations. David Ellison described the $30-per-share proposal as the strongest option available to maximise shareholder value.
Investors appeared to respond positively to the revised offer. Shares in Warner Bros. Discovery rose by more than 3% in afternoon trading on Monday, narrowing the gap to Paramount’s offer price. Paramount shares also gained, while Netflix stock edged lower.
Paramount has extended its tender offer deadline to January 21, 2026, appealing directly to Warner Bros. Discovery shareholders while bypassing a board that continues to support the Netflix agreement. Any successful transaction, however, would face extensive regulatory scrutiny, with antitrust reviews likely to extend well into 2026 given the scale of the proposed merger.
U.S. President Donald Trump has criticised the release of photographs linking former President Bill Clinton to the late convicted sex offender Jeffrey...
A massive Russian strike on Ukraine killed at least three people, including a four-year-old, as air raids and power outages hit cities nationwide. Pre...
Negotiations conducted with the United States and European nations, aimed at ending the nearly four-year war with Russia, were "very close to a real r...
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 23rd of December, covering the latest developments you need to...
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed...
U.S. President Donald Trump has criticised the release of photographs linking former President Bill Clinton to the late convicted sex offender Jeffrey Epstein, calling the move a political distraction by Democrats.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 23rd of December, covering the latest developments you need to know.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
Canadian Prime Minister Mark Carney has announced the appointment of Mark Wiseman, a former global investment banker and head of Canada’s largest pension fund, as the country’s next ambassador to the United States.
Vince Zampella, co-creator of the Call of Duty franchise, has died after a Ferrari crash on Angeles Crest Highway north of Los Angeles.
Israeli Prime Minister Benjamin Netanyahu said Israel is monitoring recent Iranian military exercises and will raise the issue with U.S. President Donald Trump during his visit to Washington next week.
A major power outage swept across San Francisco on Saturday, leaving up to 130,000 customers without electricity, disrupting traffic and forcing some businesses to close temporarily, officials said.
Israel’s government has approved the creation of 19 new Jewish settlements in the occupied West Bank, a move that analysts say further undermines the prospects for a viable Palestinian state.
The European Union stands at a crossroads: to receive new members and accelerate the enlargement process in order to strengthen its role in the international arena, or to risk strategic stagnation by delaying expansion in favor of internal reform.
U.S. President Donald Trump has criticised the release of photographs linking former President Bill Clinton to the late convicted sex offender Jeffrey Epstein, calling the move a political distraction by Democrats.
A massive Russian strike on Ukraine killed at least three people, including a four-year-old, as air raids and power outages hit cities nationwide. President Zelenskyy condemned the attack, urging greater pressure on Moscow.
Negotiations conducted with the United States and European nations, aimed at ending the nearly four-year war with Russia, were "very close to a real result," Ukrainian President Volodymyr Zelenskyy said on Monday.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 23rd of December, covering the latest developments you need to know.
The U.S. State Department has authorised a potential Foreign Military Sale of Advanced Medium Range Air‑to‑Air Missiles (AMRAAM) to Denmark, aimed at bolstering the Scandinavian nation’s air defence capabilities, the Pentagon’s Defence Security Cooperation Agency said on Monday.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment