Larry Ellison pledges $40 billion for Paramount’s Warner Bros bid

Billionaire Larry Ellison, father of Paramount CEO David Ellison, agreed to personally guarantee $40.4 billion in equity financing for Paramount's $108.4 billion offer for Warner Bros. Paramount also raised its reverse termination fee to $5.8 billion and extended tender offer expiry date to January 21, 2026. Netflix was first to bid $82.7 billion to acquire Warner Bros on Dec 5.