Mass media conglomerate Warner Bros Discovery Inc.’s (NASDAQ:WBD) Chairman Samuel DiPiazza reaffirmed the company's commitment to its merger agreement with Netflix Inc. (NASDAQ:NFLX), brushing aside recent efforts by Paramount Skydance Corp. (NASDAQ:PSKY), despite Larry Ellison's personal guarantee backing the rival bid.

Netflix Offers ‘Compelling Value,’ Shareholder Protections

DiPiazza said that the Warner Bros management was sticking with Netflix because they have a “signed merger agreement” with the streaming giant, while appearing on CNBC’s “Squawk Box” on Wednesday.

Besides this, he said that the deal offers “compelling value,” a clear path to closing, and significant protections for shareholders “if something stops the close, whatever that might be.”

While acknowledging Ellison’s increased involvement in the deal, he said, “Yes, Larry Ellison stepped up to the table and the board recognizes what he did,” but ...