Larry Ellison to Back $40.4 Billion Financing for Paramount Skydance's Hostile Bid for Warner Bros Discovery
On 22 December 2025, it was reported that Larry Ellison agreed to personally backstop $40.4 billion in equity financing to support Paramount Skydance's $108.4 billion hostile bid to take control of Warner Bros Discovery (WBD). Paramount, which is controlled by the Ellison family, is leading this corporate battle over WBD.
Earlier, Warner Bros Discovery had agreed to sell its film studios, HBO network, and streaming service to Netflix for $82.7 billion. However, the situation escalated as WBD accused Paramount of misleading investors by claiming a full backstop for the financing. Paramount responded by confirming that Ellison would back the financing himself.
This unprecedented move highlights the extraordinary levels of competition and contention surrounding the ownership and control of Warner Bros Discovery.
