WARNER DEMANDS LARRY ELLISON'S PERSONAL GUARANTEE IN PARAMOUNT BID

Summary from the TLDR newsletter

Warner has urged shareholders to reject Paramount's hostile takeover bid due to concerns about the financing. Paramount is using an Ellison family trust to backstop the deal - Warner wants Larry Ellison to give a stronger personal guarantee that he is fully committed to the bid. Paramount isn't likely to raise its bid. Instead, it is engaging with shareholders and gathering feedback on its tender about what it needs to do.