New Delhi, Dec. 23 -- Paramount Skydance, a media and entertainment company, has amended its all-cash takeover offer for Warner Bros. Discovery (WBD), addressing concerns raised by WBD's board by securing a personal financial guarantee from billionaire Larry Ellison.

In a statement, Paramount said Ellison has agreed to provide an irrevocable personal guarantee of USD 40.4 billion.

It stated "Larry Ellison has agreed to provide an irrevocable personal guarantee of USD 40.4 billion of the equity financing for the offer and any damages claims against Paramount".

This move directly responds to questions raised by WBD directors about the financial backing behind the proposal.

Paramount Skydance Corporation has reaffirmed its offer to acqui...