Warner Bros Seeks Ellison's Personal Guarantee for Paramount Takeover

Warner Bros Discovery (WBD) has intensified its opposition to the Paramount takeover bid by calling on billionaire Larry Ellison to personally guarantee the offer, rather than backing it solely through family trust financing. The demand adds a sharper edge to an already contentious Hollywood takeover battle for control of one of the most influential players in the global entertainment market.

In a direct communication to shareholders, Warner Bros Discovery’s board raised concerns over the structure of the Paramount proposal, which is valued at around the US$108 billion deal mark and supported by Paramount Skydance.

The board argued that the revocable nature of the trust weakens financial certainty and creates ambiguity around funding commitments, particularly for a transaction of this scale. According to WBD, shareholders deserve stronger assurance and clear shareholder approval pathways to ensure the deal can be completed without disruption.

• Warner Bros Discovery seeks Larry Ellison’s personal guarantee for Paramount takeover bid
• WBD questions trust-backed financing in $108 billion Paramount–Skydance deal
• Hollywood takeover battle intensifies amid media industry consolidation pressures

The company has contrasted the Paramount offer with its preferred strategic alternative, including discussions around Netflix merger talks. Warner Bros Discovery believes such an arrangement would provide clearer execution, stronger industrial logic, and more predictable long-term value as streaming competition continues to reshape the entertainment industry deal landscape.

At the core of the dispute is the financing structure proposed by Paramount Skydance, which combines equity and debt funding. The bid relies heavily on assets held within Ellison’s family trust. Warner Bros Discovery has insisted that Ellison’s personal backing would remove doubts around capital strength and execution certainty. Supporters of the bid counter that the trust’s holdings, including significant technology investments, provide adequate financial security within ongoing media industry consolidation.

Paramount CEO David Ellison has continued to defend the proposal, stating that it offers fair value and long-term strategic benefits. He has pointed to encouraging early investor feedback and confirmed that the company remains engaged with advisers and policymakers to address media sector regulation requirements.

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The standoff is unfolding alongside broader shifts in the media industry consolidation cycle, with competing bids, changing financial alliances, and heightened regulatory scrutiny. As deadlines approach, analysts expect the contest to extend further, with investors weighing options in an evolving global entertainment market.