Overview
- Oracle chairman Larry Ellison agreed to an irrevocable $40.4 billion personal backstop for Paramount Skydance’s equity financing and any damages claims.
- Paramount kept its all‑cash offer at $30 per share for 100% of WBD and extended the tender deadline to Jan. 21, 2026.
- The revised proposal matches Netflix’s $5.8 billion regulatory reverse termination fee and adds commitments not to revoke the Ellison family trust, alongside disclosures showing about 1.16 billion Oracle shares in the trust.
- WBD’s board maintains that the Netflix transaction valuing studios and streaming at about $82.7 billion is superior and has called Paramount’s bid inadequate, though some investors have indicated openness to revised terms.
- Netflix also reinforced its financing by refinancing part of a $59 billion bridge loan and arranging additional credit, as both bids head toward intensive regulatory review.