Oracle Co-Founder Larry Ellison, one of the richest men in the world, has said he will personally guarantee $40.4bn for Paramount Skydance’s hostile bid for Warner Bros. Discovery.
Paramount Skydance, which is headed by Ellison’s son David, is seeking to persuade Warner Bros. Discovery (WBD) investors to back its bid, rather than selling to Netflix.
Larry Ellison’s guarantee, disclosed in a regulatory filing on Monday, aims to allay the WBD board’s doubts about Paramount's financing and the lack of full Ellison family backing, which had pushed it toward the offer from Netflix.
WBD’s board last week recommended that its shareholders reject the $108.4bn offer from Paramount for the whole company, including cable TV assets, due to suspicions over its financing and the lack of a full guarantee from the Ellison family.
It reiterated its calls for WBD shareholders to vote in favour of Netflix’s rival $82.7bn offer for its streaming and studios businesses.
Meanwhile, Netflix has bolstered the financing of its offer by refinancing part of a $59bn bridging loan, signing a $5bn revolving credit facility and two $10bn delayed-draw term loans, according to regulatory filings.
The acquisition of WBD would bring either Netflix or Paramount some of the most prized franchises in film and television, including Harry Potter, Game of Thrones and DC Studios, as well as networks such as CNN.
Skydance Media and Paramount Global recently completed their long-planned $8.4bn merger. Discover more here.
Canal+ launches AI-powered content search with OpenAI
To enable users to find content through natural language queries, the Canal+ app will roll out a search function powered by OpenAI technology in June 2026.
Documentary Film Council appoints Mandy Chang as CEO
The UK’s Documentary Film Council has named Mandy Chang as its first Chief Executive.
Head of Eurovision broadcaster ORF resigns
The Director General of Austrian national broadcaster ORF has resigned over allegations of sexual harassment, two months before the network is due to host the Eurovision Song Contest.
Sound body AMPS calls out impact of noisy LED film lighting
The Association of Motion Picture Sound (AMPS) has called on manufacturers and productions to consider the impact of noisy high-output LED film lighting on capturing performance on set.
BBC garners 47 nominations for Royal Television Society Programme Awards 2026
Ahead of the RTS Programme Awards 2026 on Tuesday 24 March, the BBC has received 47 nominations – leading the way across the 29 categories.
