Billionaire Larry Ellison offers personal guarantee for son’s bid for Warner Bros

Oracle tech tycoon Larry Ellison is offering a $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 $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.