Warner Bros Discovery will likely reject Paramount Skydance's amended $108.4 billion hostile bid for the storied Hollywood studio despite a personal guarantee from billionaire Larry Ellison backing the media giant's offer, according to a person familiar with the matter. The board has yet to make a final decision, but is expected to meet next week, said the person, who requested anonymity to discuss internal deliberations. Warner Bros and Paramount declined to comment on the board's position, reported earlier by CNBC. The decision could keep Warner Bros on track to pursue a rival cash-and-stock deal with Netflix despite Paramount's attempt to sweeten its offer.