Paramount Skydance Corp

Paramount Skydance Corporation (PSKY) announced significant progress in its merger with Warner Bros. Discovery, Inc. (WBD). The statutory waiting period under the Competition Act (Canada) expired on June 20, 2026, removing a key regulatory hurdle. Additionally, the Competition Commission of South Africa approved the merger on June 19, 2026. The completion of the merger is still contingent on obtaining regulatory clearances in other relevant jurisdictions.

Paramount Skydance announced significant progress in its merger with Warner Bros. Discovery, securing key regulatory approvals. The company received unconditional clearance from the Chinese antitrust authority on June 17, 2026. Additionally, the US Department of Justice closed its investigation on June 12, 2026, concluding the transaction is unlikely to harm competition or consumers. Unconditional approval was also granted by the Spanish foreign direct investment authority on June 11, 2026.

Paramount Skydance Corporation announced significant progress in its merger with Warner Bros. Discovery, Inc., securing multiple regulatory approvals. The Australian Competition and Consumer Commission (ACCC) cleared the merger, subject to a 14-day waiting period expiring on June 23, 2026. Additionally, the New Zealand Commerce Commission will not consider the merger further, and approvals were obtained from competition and foreign direct investment authorities in several other countries.

Paramount Skydance Corporation announced the commencement of tender offers for cash and exchange offers for newly issued PSKY notes, targeting up to $2.4 billion and $12.8 billion, respectively, of debt securities issued by Discovery Global Holdings, Inc. and Discovery Communications, LLC (WBD Issuers). These offers are being conducted in connection with Paramount's proposed acquisition of Warner Bros. Discovery, Inc. and are contingent upon the acquisition's consummation and receipt of requisite consents for related indenture amendments. Concurrently, WBD Issuers have begun consent solicitations to amend the indentures governing their notes.

Paramount Skydance Corporation is recasting its historical segment information for the period from August 7, 2025, to December 31, 2025, to reflect a new reporting structure implemented in 2026. The new segments are Studios, Direct-to-Consumer, and TV Media, which consolidate content creation and reallocate certain premium channels and centralized costs. The company notes that results for the Successor period (post-August 7, 2025) are not comparable to Predecessor periods due to a new accounting basis established from the NAI and Skydance transactions. This update also briefly references the ongoing merger agreement with Warner Bros. Discovery.

Paramount Skydance announced a definitive merger agreement to acquire Warner Bros. Discovery (WBD) for an equity value of $80.9 billion, with the deal expected to close by the end of Q3 2026. The acquisition involves significant equity investments totaling $46.95 billion and $54 billion in debt financing. For Q1 2026, the company reported a 2.15% increase in revenues to $7,347 million and a 10.5% rise in net earnings attributable to Parent to $168 million. However, basic net earnings per common share declined to $0.15, primarily due to a substantial increase in weighted average shares outstanding following prior transactions.

Paramount Skydance Corporation announced strong financial results for Q1 2026, with revenue growing 2% year-over-year to $7.3 billion and Adjusted EBITDA surging 59% to $1.2 billion, exceeding profitability estimates. The company reaffirmed its full-year 2026 outlook for $30 billion in revenue and $3.8 billion in Adjusted EBITDA. Significant progress was also reported on the acquisition of Warner Bros. Discovery, including securing financing and WBD shareholder approval, with the transaction on track for a Q3 2026 close.

Paramount Skydance Corporation filed an Amendment No. 1 to its Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The filing confirms the company's status as a well-known seasoned issuer and a large accelerated filer, indicating its compliance with SEC reporting requirements.

Paramount Skydance Corporation (PSKY) has successfully completed the syndication of its bridge facility and secured permanent financing for its pending acquisition of Warner Bros. Discovery, Inc. This strategic move reflects strong support from eighteen lenders, comprising relationship banks and institutional lenders. The new financing arrangements, including a two-tranche senior secured term loan and a senior secured revolving credit facility, significantly de-risk the acquisition's funding structure. As a result, PSKY has reduced its aggregate bridge facility commitments by $5.00 billion, from $54.00 billion to $49.00 billion, and increased its existing senior unsecured revolving credit facility by $1.50 billion to $5.00 billion.

Paramount Skydance Corporation (PSKY) announced a definitive merger agreement to acquire Warner Bros. Discovery, Inc. (WBD) for $31 per share in cash, plus a potential ticking fee. This significant strategic move aims to consolidate media assets and reshape the industry landscape. Concurrently, PSKY filed a Certificate of Amendment to its charter, increasing the authorized shares of Class B Common Stock from 5.5 billion to 7 billion, a 27.3% increase. The amendment also grants the PSKY Board the flexibility to declare and pay dividends to Class B holders without a corresponding dividend to Class A holders, provided Class A stockholders give prior written consent. These actions facilitate the WBD acquisition and provide PSKY with greater capital structure flexibility for future strategic initiatives.