New York, Dec. 22 -- Paramount on Monday (local time) addressed the concerns put forward by Warner Bros Discovery over its acquisition, with Oracle founder Larry Ellison issuing an "irrevocable personal guarantee" of USD 40.4 billion in equity to finance the deal.

Paramount said that WBD had sought a personal guarantee from Ellison.

A statement by Paramount stated, "WBD asserted that the full equity backstop from the Ellison family trust, which was included in Paramount's December 4 proposal to WBD and the December 8 tender offer to WBD shareholders, was inadequate, despite the trust holding a majority of the assets of Larry Ellison, the founder of Oracle and controlling shareholder of Paramount. WBD went on to assert that the only fix ...