WBD Up on Ellison’s $40.4b Guarantee for Paramount’s Offer (2)

(Updates with WBD, PSKY and NFLX shares.)

Warner Bros Discovery shares are up 3.9% in premarket trading after Larry Ellison agreed to provide an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damages claims against Paramount. Paramount Skydance rises 3.1%, while Netflix ticks 0.4% higher.

• Read More: Larry Ellison to Personally Back Paramount Bid for Warner Bros.

Paramount disclosed revised merger terms that include:

• Regulatory reverse termination fee increased to $5.8b from $5b
• Ellison has agreed not to revoke the Ellison family trust or adversely transfer its assets during the pendency of the transaction
• Paramount continues to offer ...