Larry Ellison Backs Paramount’s WBD Offer with $40B Guarantee

Larry Ellison is throwing his personal fortune behind Paramount Skydance Corp.’s bid for Warner Bros. Discovery Inc., agreeing to provide an irrevocable personal guarantee of $40.4 billion in equity financing for the offer and any damages claims against Paramount. Paramount also offered to increase its regulatory reverse termination fee to $5.8 billion from $5 billion. Warner Bros. would have to pay $2.8 billion to Netflix if it backs out of its deal and goes with another suitor, according to terms of the agreement. Bloomberg’s Chris Palmeri joined Caroline Hyde and Romaine Bostick on ‘Bloomberg Businessweek Daily’ to break it down. (Source: Bloomberg)