Paramount Skydance Secures Larry Ellison's $40.4B Backing After WBD Board Raised Doubts About His Involvement

Paramount Skydance Corp. (PSKY) on Monday guaranteed that Oracle Corp. (ORCL) co-founder Larry Ellison would be involved in the deal to acquire Warner Bros. Discovery Inc. (WBD).

In its announcement, Paramount stated that Ellison has agreed to an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damage claims against the company.

Paramount Skydance shares were up more than 1% in Monday's pre-market trade, while Warner Bros. Discovery shares were up over 3%. Retail sentiment on Stocktwits around both companies was in the 'bearish' territory at the time of writing.

Last week, Warner Bros. Discovery's board expressed concerns about Paramount's offer, citing a lack of confidence in Ellison's involvement.

“We were not confident that one of the richest people in the world would be there at closing. Doing a deal is great – closing a deal is better,” said WBD chairman Samuel Di Piazza in an interview with CNBC.

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