Paramount has reorganized Warner Bros.’s advertising, ensuring that Larry Ellison is backed by $40 billion

The battle for the future of Warner Brothers continues, as Paramount Skydance announced on Monday a financial overhaul for the movie studio. The offer includes a “personal guarantee” from its main sponsor, Oracle billionaire Larry Ellison, to provide billions of dollars to join them. This is the latest move by Ellison’s son, David Ellison – the CEO of Paramount Skydance – to take away from his rival, streaming giant Netflix.

“Larry Ellison has agreed to provide an irrevocable guarantee of $40.4 billion in cash and any damages that Paramount may incur,” Paramount said. Press release published on Monday says. The money in question has been included in previous Paramount offers, but the Ellison executive’s “personal guarantee” is new, the press reports.

The update comes just over a week after WBD’s board rejected Paramount’s initial bid, favoring an earlier deal with Netflix. That agreement was was announced on December 5explaining how a streamer can buy a video studio using cash and investment of $ 27.75 per WBD share, with a total business value of $ 82.7 billion.

Three days after the Netflix deal was announced, Paramount launched a 108.4 billion dollarsoffering $30 per share. Image of WBD he refused thiscalling it a “fraud” and saying that Paramount misled shareholders about the money they wanted. At the time of the rejection, the agency noted that the agreement with Netflix “is a permanent agreement with feasible commitments, does not require any investment and strong debt repayment.”

Now, Paramount’s updated content is designed to “address WBD’s concerns about Paramount’s premium offering,” Paramount said. In October, CNBC he said thatBefore the Netflix deal, WBD had previously turned down three offers from Paramount.

“Paramount has repeatedly expressed its commitment to acquiring WBD,” said Paramount Skydance CEO David Ellison, in a press release Monday. “Our $30 per share, fully paid-up dividend was December 4th^Thand continues to be, the best way to increase profits for those with WBD. Due to our commitment to investment and growth, our acquisition will be a win-win for all WBD stakeholders, as it enables more products, more theater, and more consumer choice. ”

He added: “We hope that WBD’s board of directors will take steps to protect this business and preserve and strengthen the legacy of Hollywood’s reputation for the future.”

TechCrunch reached out to Warner Bros. Discovery to comment.