Paramounts new, hostile offer to Warner Bros. Discovery: Larry Ellison will personally guarantee $40 billion
CNN19 hrs
Larry Ellison Backs Paramount's $108B Warner Bros. Takeover Bid
Is the Ellison-Paramount deal a dangerous media consolidation, or the best hope for preserving cinema and journalism?
Above: Larry Ellison speaks during a news conference at the White House in Washington, D.C. on Jan. 21, 2025. Image credit: Andrew Harnik/Getty Images
The Spin
Narrative A
Warner Bros wanted a personal guarantee from the Ellison family — and now they’ve gotten exactly what they asked for. Larry Ellison's irrevocable $40.4 billion guarantee erases any doubts about commitment or credibility. Unlike Netflix, which has openly dismissed theatrical films as "dead," Paramount under David Ellison is serious about cinemas. Even James Cameron says it’s the best possible outcome. All in all, the deal offers the strongest path to protecting moviegoing, preserving studio culture, and preventing Hollywood from drifting into a streaming-only content farm.
Narrative B
Ellison's personal guarantee doesn't solve the real problem — it deepens it. The bid would concentrate massive media power under one billionaire family with deep political ties, weakening independent journalism and creative risk. The Paramount-Ellison regime has already sidelined awards films, cut DEI, embraced canceled insiders, and prioritized macho intellectual property over diverse voices. A Warner takeover would spread a Silicon Valley, feelings-don't-matter culture across media — more consolidation, fewer safeguards, and studios bent to ideology over artists and workers.