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Billionaire David Ellison has completed Paramount's $81 billion takeover of Warner Bros. Discovery, nearly $111 billion with debt, creating a media group called Skydance that owns HBO, CNN, CBS and Paramount+.
Larry Ellison's fortune has fallen almost $200 billion in a year, and bond investors now price Oracle and Paramount, both deep in debt, as a single Ellison bet.
Larry Ellison pledged 67 million more Oracle shares as loan collateral, lifting his total to about 413 million shares worth roughly $57 billion.
Tyler Perry has sold his 25% ownership stake in BET+ to Paramount Skydance, which is shutting down the streamer and merging it with Paramount+.