New Delhi, Dec. 22 -- Oracle co-founder Larry Ellison has agreed to personally guarantee $40.4 billion in equity financing to support Paramount Skydance's all-cash offer for Warner Bros Discovery, according to a regulatory filing released on Monday.

The personal guarantee is likely to strengthen the financing structure of the deal, which had previously drawn objection from Warner Bros' board when it rejected Paramount's proposal in favor of Netflix, a report by Reuters noted. Paramount said the revised terms do not alter its $30-per-share all-cash bid.

Following the news, Warner Bros Discovery shares rose 2.5% in premarket trading, while Paramount Skydance shares climbed approximately 1.6%.

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