Paramount’s Warner Bros takeover heats up

A hostile takeover battle for Warner Bros. Discovery escalates as Paramount launches an amended bid. Oracle co-founder Larry Ellison is personally guaranteeing over $40 billion toward Paramount’s $108 billion all-cash offer, led by his son, David Ellison, chairman and CEO of Paramount. The breakup fee has been increased to $8 billion, matching Netflix’s offer, and would be payable if the deal fails regulatory approval.