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Revised WBD bid raised Ellison's operative guarantee to $44.6 billion

Reporting and findings

  1. documented

    Paramount's February 2026 filed amendment describes a revised bid backed by Ellison family and RedBird equity plus $54 billion of debt commitments. Operative Item 24 language replaced the prior guarantee amount with $44.6 billion, while a promotional letter embedded in the same filing used $43.3 billion.

Summary and current status

The amendment increased the cash and personal guarantee behind the attempted media consolidation.

Revised offer superseded by February 27 definitive agreement

People and organizations

Relationships in this file

  1. Donald J. Trumpmedia executive closely allied with TrumpDavid Ellison
  2. Donald J. Trumpclose Trump associate and financing guarantor for his son's media companyLarry Ellison

Money trail

  1. commitmentRevised debt commitments$54,000,000,000
    Committed by / source
    Debt-commitment providers identified in Paramount's filing
    Committed toward / intended recipient
    Paramount Skydance's revised Warner Bros. Discovery bid financing
    committed · 2026-02-10 · observedRead source record
    Calculation detailsPopulation Debt commitments for Paramount's revised WBD bidPeriod 2026-02-10 to 2026-02-10Basis Direct observation: aggregate debt commitments from the revised-offer filing.Limits Committed capacity, not borrowing drawn or aggregate acquisition value.
  2. commitmentRevised Ellison guarantee$44,600,000,000
    Committed by / source
    Larry Ellison
    Committed toward / intended recipient
    Paramount Skydance's revised Warner Bros. Discovery bid financing
    committed · 2026-02-10 · observedRead source record
    Calculation detailsPopulation Larry Ellison guarantee of revised equity financing and related obligationsPeriod 2026-02-10 to 2026-02-10Basis Direct observation: the operative $44.6 billion personal-guarantee amount from Schedule TO/A Item 24 and the amended financing table.Limits Contingent backstop, not a payment already made. An embedded promotional letter in the same filing states $43.3 billion; the operative amended tender language supplies the value used here.