Oracle’s credit rating drops to one level above junk | Ed Zitron
Tech journalist Ed Zitron explains why Oracle's stock is suddenly in freefall, and how it relates to the WBD/Paramount deal.
@thefingerfuckingfemalefury I love that trying to buy WB has pretty much bankrupted the Ellisons.
The idiotic thing is that Ellison could have settled with just having Paramount, but it seems that buying Paramount was just the first step in a plan to buy WBD, with the debt he got from buying the first studio, with his seemingly planning to sell WBD's assets to fill the void in his finances caused by the first purchase?
Evidently he didn't think that Paramount has any interesting IPs (y'know, except Star Trek, the Mission: Impossible franchise, Avatar: the Last Airbender etc.) and he was relying on getting access to that sweet sweet bigot money from the Potter franchise (in addition to DC etc) to save his fortune.
...The fortune he wasted buying multiple studios he can't afford to run, even if the purchase goes through, due to the amount of debt he's gained by buying two huge studios.
I'm thinking this will eventually end with Netflix coming in and buying both studios in the tax seizure auction that comes out of the smoking crater that is this fucking fiasco, at a much lower price than if they had just sold to them in the first place instead of indulging Ellisons ridiculous temper tantrum.
























