Revised WBD bid raised Ellison's operative guarantee to $44.6 billion
Reporting and findings
- 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.
- U.S. Securities and Exchange Commission: Paramount Skydance amended tender-offer statement increasing Ellison guaranteeSchedule TO/A Item 24 and financing table; amended $44.6 billion guarantee language (filing lines 248, 620, and 678–679), distinguished from embedded promotional letter
- 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 amendment increased the cash and personal guarantee behind the attempted media consolidation.
Revised offer superseded by February 27 definitive agreement
People and organizations
- David EllisonParamount Skydance chair and chief executive
- Larry EllisonTrump friend and financing guarantor for Paramount Skydance
- Warner Bros. Discovery, Inc.acquisition target
- RedBird Capital Partnersequity-financing participant
- Paramount Skydance Corporationrevised acquisition bidder
- Donald J. Trumpsitting president closely allied with the transaction's principal financiers
Relationships in this file
- Paramount Skydance Corporationrevised all-cash acquisition offerWarner Bros. Discovery, Inc.
- 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
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
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