Larry Ellison gives $40bn personal backing to Warner Bros Discovery bid
PositiveFinancial Markets
- Larry Ellison, co-founder of Oracle, has pledged $40 billion in personal backing for Paramount's $108.4 billion hostile bid to acquire Warner Bros. Discovery, addressing financial concerns raised by Warner Bros.' board. This commitment is seen as a crucial step in the ongoing negotiations surrounding the acquisition.
- This significant financial backing from Ellison not only strengthens Paramount's position in the competitive media landscape but also reflects his confidence in the potential synergies that could arise from the merger.
- The bid comes amid escalating tensions in the media sector, particularly with Netflix's previous agreement to acquire Warner's studio and streaming operations, highlighting a fierce battle among major players for dominance in the industry.
— via World Pulse Now AI Editorial System
