Paramount has upped the ante in its hostile takeover bid for Warner Bros. Discovery, announcing Monday that Larry Ellison will personally guarantee the tens of billions of dollars he is putting up to bankroll the transaction. The Ellisons will also let shareholders peer into the finances of their family trust.

So, it will be Larry Ellison, not the Saudis, who will be putting up the additional $40 billion to win the hostile takeover of WBDiscovery over Netflix.

And he’s going to allow investors some greater visibility into the Ellison family trust.

As someone who respected the way Americans once took antitrust mechanisms and actions deeply seriously, this doesn’t give much comfort.

  • Asafum@lemmy.worldEnglish
    0·
    1 month ago

    That’s a whole lot of words to say “I want control of what CNN says along with all the other media companies I’m buying.”

    • StillPaisleyCat@startrek.websiteOPEnglish
      0·
      1 month ago

      Not sure. It’s his father Larry that is concerned about the news media.

      It seems that David Ellison wants to control the entertainment industry and is willing to sacrifice every and any scruple he may have to get that, letting the news media be captured by whatever agenda in order to get what he wants.

      Also, this way David is indisputably the victor in the succession competition that Larry set up between his offspring.