Oracle founder Larry Ellison has offered a personal guarantee of over $40 billion to support Paramount's $108 billion bid for Warner Bros Discovery, intensifying a fierce bidding war with Netflix. Netflix recently stunned the entertainment industry by announcing an $83 billion deal to acquire Warner Bros' film and television studio and streaming business, marking the largest consolidation in the sector this decade. Paramount, led by Ellison's son David, responded with an all-cash offer that includes the buyout of major cable channels, aiming to address concerns about the deal's financing and regulatory hurdles.

Warner Bros initially viewed Paramount's proposal as risky due to its reliance on foreign investors and a lack of direct family commitment, but the amended bid now includes a substantial breakup fee and Ellison's personal backing. The competition has drawn attention from the White House, with former President Donald Trump expressing reservations about both offers and emphasizing the need for new ownership at CNN. Paramount has also made conservative-friendly changes at CBS News, including appointing Bari Weiss as editor-in-chief, further fueling debate over media bias and ownership.