Larry Ellison backstops $40.4B Paramount bid for Warner Bros. PSKY +4.3%, WBD +3.5%
Source: https://finance.yahoo.com/news/oracles-larry-ellison-agrees-to-backstop-404-billion-in-financing-for-paramount-acquisition-of-warner-bros-145133265.html Shares in Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) spiked Monday after Larry Ellison, the centibillionaire founder and executive chairman of Oracle (ORCL), agreed to personally backstop $40.4 billion in equity financing for Paramount’s proposed acquisition of Warner Bros. Paramount stock rose over 4%, while Warner Bros. shares rose by over 3.5%. In a securities …