Hollywood Rejects Oracle's Billion-Dollar Rescue for Paramount

Warner Bros. Discovery has decided to formally reject a takeover bid for Paramount Global, according to people familiar with the matter. The bid was led by a consortium including producer David Ellison’s Skydance Media. A key factor was the offer’s financial structure. While Oracle founder Larry Ellison, David’s father, provided a personal financial guarantee, it failed to convince Warner’s board. They judged the overall proposal as insufficient to offset the major risks involved. The potential deal, described as hostile by Paramount’s controlling shareholder, would have combined two of Hollywood’s oldest studios. Its collapse leaves Paramount’s future uncertain as it continues to explore other strategic options.