Paramount's WBD offer carried a $40.4 billion Ellison guarantee
Reporting and findings
- documented
Paramount Skydance's amended tender filing says its $30-per-share bid for Warner Bros. Discovery was supported by Ellison Trust and RedBird equity, up to $54 billion in bridge debt, and Larry Ellison's personal guarantee of the trust's $40.4 billion funding obligation.
- U.S. Securities and Exchange Commission: Paramount Skydance tender-offer statement for Warner Bros. DiscoverySummary Term Sheet and Source and Amount of Funds
- Associated Press: Takeover bid of parent company means limbo for CNN and some fellow cable networksPassages identifying David Ellison's Paramount control, Larry Ellison's financing role, and Larry Ellison's relationship with Trump
Summary and current status
The $30-per-share bid used Ellison Trust and RedBird equity, up to $54 billion in bridge debt, and Larry Ellison's $40.4 billion guarantee.
Offer superseded by later revised bid and definitive agreement
People and organizations
- David EllisonParamount Skydance chair and chief executive
- CBS NewsParamount news and broadcast asset
- Larry EllisonTrump friend and financing guarantor for Paramount Skydance
- CNNWBD news asset
- Paramount Skydance Corporationacquisition bidder
- Warner Bros. Discovery, Inc.acquisition target
- RedBird Capital Partnersequity-financing participant
- Donald J. Trumpsitting president closely allied with the transaction's principal financiers
Relationships in this file
- Paramount Skydance Corporation$30-per-share acquisition offerWarner Bros. Discovery, Inc.
- RedBird Capital Partnersequity-financing commitmentParamount Skydance Corporation
- Donald J. Trumpmedia executive closely allied with TrumpDavid Ellison
- Donald J. Trumpclose Trump associate and financing guarantor for his son's media companyLarry Ellison
Money trail
commitmentLarry Ellison funding guarantee$40,400,000,000 - Committed by / source
- Larry Ellison
- Committed toward / intended recipient
- Paramount Skydance's Warner Bros. Discovery bid financing
commitmentDecember cash offer per share$30 per share - Committed by / source
- Paramount Skydance
- Committed toward / intended recipient
- Warner Bros. Discovery shareholders
commitmentMaximum bridge-debt commitmentsup to $54,000,000,000 - Committed by / source
- Bridge-debt providers identified in the amended tender filing
- Committed toward / intended recipient
- Paramount Skydance's Warner Bros. Discovery bid financing