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Oracle co-founder Larry Ellison, an ally of US President Donald Trump and one of the richest men in the world, pledged on Monday to provide $40.4 billion to help finance his son’s hostile bid to acquire Warner Bros. Discovery, the owner of CNN, HBO Max, and other major media assets.

The billionaire’s personal financing guarantee was announced in a press release issued by Paramount Skydance, a company headed by David Ellison, Larry Ellison’s son.

“Paramount has repeatedly demonstrated its commitment to acquiring WBD,” David Ellison said in a statement. “Our $30 per share, fully financed all-cash offer was on December 4th, and continues to be, the superior option to maximize value for WBD shareholders.”

Paramount launched its $108 billion effort to take over Warner Bros. earlier this month, days after Netflix and Warner Bros.........

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