Archive · 22 Dec 2025
Paramount Strengthens Bid for Warner Bros
Paramount Skydance, a company that makes movies and TV shows, wants to buy Warner Bros Discovery for $108.4 billion.
To make their offer more attractive, Larry Ellison, the co-founder of Oracle, promised to personally guarantee $40.4 billion in financing.
This is a big deal because Warner Bros Discovery had earlier preferred a deal with Netflix.
The bidding war is intense because both companies want to gain a significant advantage in the streaming wars by acquiring Warner Bros' vast content library.
The shares of both companies rose after the news, and Paramount has also increased its regulatory reverse termination fee to match the competing offer from Netflix.
The final decision will depend on shareholder support and regulatory approval.
Oracle co-founder Larry Ellison provided a $40.4 billion equity financing guarantee for Paramount Skydance's $108.4 billion all-cash bid for Warner Bros Discovery.
Paramount's revised terms do not change the $30-per-share offer, but they include an increased regulatory reverse termination fee of $5.8 billion and an extended tender offer expiration date to January 21, 2026.
Warner Bros Discovery shares rose 2.5% and Paramount Skydance shares climbed 1.6% in premarket trading following the news.
The bidding war for Warner Bros Discovery continues, with both Paramount and Netflix aiming to gain a significant advantage in the streaming wars.
The final decision will depend on shareholder support and regulatory approval, with both deals facing intense antitrust scrutiny in the U.S. and Europe.
- Who
- Paramount Skydance, Warner Bros Discovery, Netflix, Oracle, Larry Ellison
- What
- Paramount Skydance's strengthened bid for Warner Bros Discovery with Larry Ellison's $40.4 billion guarantee
- When
- Regulatory filing released on Monday (specific date not mentioned)
- Where
- Global entertainment industry
- Why
- To address Warner Bros board's doubts over Paramount's deal financing and to gain an advantage in the streaming wars
- Companies Involved
- Paramount Skydance, Warner Bros Discovery, Netflix, Oracle
- Larry Ellison's Guarantee
- $40.4 billion in equity financing
- Paramount's Bid Value
- $108.4 billion (all-cash)
- Warner Bros Shares
- Rose 2.5% in premarket trading
- Paramount Shares
- Climbed 1.6% in premarket trading
- Regulatory Reverse Termination Fee
- $5.8 billion (increased from $5 billion)
- Tender Offer Expiration Date
- Extended to January 21, 2026
Sources
Netflix-Warner Bros merger: James Bond star Pierce Brosnan shares his thought of future of cinema
Paramount sweetens bid for Warner Bros. Discovery with Larry Ellison personal guarantee
Oracle Co-Founder Larry Ellison's $40 Billion Guarantee To Beef Up Paramount's Warner Bros Bid
