# Paramount Skydance Corp., led by Top Gun: Maverick co-producer David Ellison, agreed to buy Warner in February after outbidding streaming giant Netflix.

*business · news · 2026-05-28 · Bloomberg*

## Key points

- Bankers are assembling a jumbo debt package to fund Paramount Skydance's $110 billion Warner Bros. Discovery acquisition.
- Paramount Skydance, with David Ellison as CEO, secured the deal by outbidding Netflix.
- Larry Ellison's financial support was crucial to Paramount Skydance’s successful bid.
- Paramount’s market value is about $12 billion, far lower than the deal's size.
- This transaction will test debt investors’ appetite for funding large, risky media mergers.

Bankers are preparing to sell a jumbo debt package to support the $110 billion acquisition of Warner Bros. Discovery Inc. It’s a risky deal and comes at a moment when the bond markets have been wobbling. Even with the backing of the billionaire Ellison family, this will be a major test of debt investors’ willingness to support megamergers. Paramount Skydance Corp., led by Top Gun: Maverick co-producer David Ellison, agreed to buy Warner in February after outbidding streaming giant Netflix Inc. The financial resources of his father, Oracle Corp. co-founder Larry Ellison, were central to winning the auction. After all, Paramount’s market value is barely $12 billion and it’s already weighed down with debt.

**Companies:** Paramount Skydance Corp.

[Read the full story on Bloomberg](https://www.bloomberg.com/opinion/articles/2026-05-28/paramount-warner-49-billion-ellisons-ask-is-an-acid-test-for-markets)

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