Larry Ellison gives personal guarantee for Paramount takeover of Warner Bros Discovery

The tech billionaire Larry Ellison has agreed to provide a personal guarantee of more than $40bn for Paramount Skydance’s fight to gain control of Warner Bros Discovery, amid an extraordinary corporate battle over the entertainment giant.WBD urged shareholders to reject a $108.4bn hostile takeover bid from Paramount – which is controlled by the Ellisons – last week, having agreed to sell its storied movie studios, HBO cable network and streaming service to Netflix in a $82.7bn deal earlier this month.WBD also accused Paramount of having “consistently misled” investors by claiming its offer had a “full backstop” – a safety net to ensure it has sufficient funds – from the Ellisons

Paramount sweetens bid for Warner Brothers with Ellison guarantee; UK economy growth downgraded – as it happened

Media news: Paramount has improved its hostile takeover offer for Warner Brothers, as it wrestles with Netflix to take control of the movie studio, streaming and cable operator.Paramount is now offering a personal financial guarantee worth more than $40bn from Oracle chairman Larry Ellison, the father of Paramount CEO David Ellison. This guarantee is designed to resolve doubts about the financing of Paramount’s offer.It is alaso beefing up its reverse break-up fee (payable if Paramount can’t get the deal past regulators) to $5.8bn, to match Netflix’s

Activist group says it has scraped 86m music files from Spotify

An activist group has claimed to have scraped millions of tracks from Spotify and is preparing to release them online.Observers said the apparent leak could boost AI companies looking for material to develop their technology.A group called Anna’s Archive said it had scraped 86m music files from Spotify and 256m rows of metadata such as artist and album names. Spotify, which hosts more than 100m tracks, confirmed that the leak did not represent its entire inventory.The Stockholm-based company, which has more than 700 million users worldwide, said it had “identified and disabled the nefarious user accounts that engaged in unlawful scraping”

Chinese robotaxis due in London next year as Lyft and Uber reveal tie-ups

Chinese robotaxis are due to be on the streets of London next year after the US ride-hailing companies Lyft and Uber announced tie-ups with Beijing-based Baidu to deploy its self-driving technology.Lyft is the third firm to announce plans to introduce self-driving taxis to the UK capital next year, after Uber and Waymo, the main operator of robotaxis in the US.Its ride-hailing services are the major rival to Uber’s in the US and Canada, and this year Lyft expanded into Europe after acquiring the Freenow app in the summer.While Uber had signed a deal to work with Baidu in the summer in other global markets, it had not until now said that the Chinese tech company’s Apollo Go cars were planned for London. It had previously announced its services would be operated with self-driving technology from the UK-US firm Wayve

Stars urge UK government not to scrap Sport England brake on playing field selloff

Sports playing fields and facilities in England are at risk of being built over en masse with devastating consequences for local communities, sports stars and governing bodies have warned.The former England footballer Jill Scott along with Olympic gold medallists Mo Farah, Alex Yee and Matthew Pinsent, are among 88 signatories to an open letter saying they are “deeply concerned” about proposed government planning reforms, and say they would hit poorest communities hardest.The letter, which has also been signed by the Football Association, the RFU, the LTA and UK Athletics, comes amid proposals to end Sport England’s statutory right to be consulted on housing developments on playing fields as part of the government’s plans to hit its target of building 1.5m homes.“We are deeply concerned that proposed planning reforms could remove the statutory protections that help safeguard England’s playing fields and sports facilities,” the letter warns

Enchantingly old-school Mr Vango can thrill with Welsh Grand National win

When jumping fans of any age talk about a “proper, old-fashioned steeplechaser”, they have a strapping colossus of a horse in mind, with the strength to keep jumping and powering on through the deepest of winter ground when lesser rivals have cried enough. A horse like Pendil or The Dikler in the 1970s, Desert Orchid or Carvill’s Hill a decade or so later, or Denman lugging top weight to victory in the Hennessy – when it still was the Hennessy, back in 2009.Or, in the here and now, a horse like Mr Vango, the second-favourite for Saturday’s Welsh Grand National at Chepstow. Even in a year when Harry Redknapp has a live runner in the King George VI Chase at Kempton a day earlier, a win for Mr Vango this weekend would quite possibly be the most popular and heartwarming result of the entire festive racing programme.Everything about Sara Bradstock’s nine-year-old is defiantly, and enchantingly, old-school, from his massive frame and engine to the amount of time he has been given to develop and mature