The bidding war over Warner Brothers is entering the next round. Tech billionaire Larry Ellison wants to secure the Paramount offer with a personal guarantee.
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Tech billionaire Larry Ellison is trying to clear a major obstacle in Paramount’s bid for Hollywood giant Warner Brothers. Ellison is giving a personal guarantee for a portion of around $40 billion (around €34 billion). In total, the bid is worth more than $100 billion. A few months ago, the Ellison family took over Warner’s competitor Paramount, through which the bid is being made. They want to take over Warner Bros. Discovery completely, including the TV channels like CNN.
Warner Bros. Discovery had rejected the offer, citing, among other things, that the guarantee from the Ellison family was not strict enough. Warner decided to accept Netflix’s offer for the studio and streaming business instead.
This article will continue to be updated.
