Paramount said on Monday that Larry Ellison, the father of Paramount’s chief executive David Ellison, is personally guaranteeing the roughly $40.4 billion in equity that the company is offering as part of its bid for Warner Bros. Discovery.

The announcement of Mr. Ellison’s personal guarantee is meant to address concerns that the Warner Bros. Discovery’s board had expressed about Paramount’s original offer.

Warner Bros. Discovery recently announced an $83 billion deal to sell a large part of its business to Netflix. Warner Brothers said Netflix offered a better deal for its shareholders than Paramount’s $108 billion bid to acquire the full company. After the Warner Bros. Discovery board rejected Paramount’s bid, it brought the same offer to the company’s shareholders.

Last week, Warner Bros. Discovery advised shareholders to reject Paramount’s offer. One of the main concerns Warner Bros. Discovery mentioned in its recommendation was the lack of a personal guarantee from Oracle co-founder, Larry Ellison. According to the terms of that offer, a revocable trust in Mr. Ellison’s name would back the bid, and the board worried that it would have limited recourse if Paramount’s bid fell apart.

Paramount said on Monday that the deal would now include a personal guarantee from Larry Ellison, putting one of the richest men in the world on the hook if the deal fell apart. Mr. Ellison is expected to get financial contributions from other partners for the deal, including roughly $24 billion from Middle Eastern sovereign wealth funds as well as debt financing from a group of banks.

“Paramount has repeatedly demonstrated its commitment to acquiring WBD,” David Ellison said in a statement. “We expect the board of directors of WBD to take the necessary steps to secure this value-enhancing transaction and preserve and strengthen an iconic Hollywood treasure for the future.”

Shares of Warner Bros. Discovery were up nearly 4 percent in premarket trading, A company representative did not immediately respond to a request for comment.

Paramount made other revisions to the deal to address Warner Bros. Discovery’s concerns. It increased the amount it would pay Warner Bros. Discovery if regulators blocked the deal to $5.8 billion, up from $5 billion. Netflix has offered to pay Warner Bros. Discovery $5.8 billion as part of its deal.

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