Paramount Skydance extends debt offer deadlines to Sept. 4

Paramount Skydance Corporation (NASDAQ: PSKY) has extended the expiration dates for its previously announced tender offers and exchange offers related to its proposed acquisition of Warner Bros. Discovery, Inc., according to a company statement.

The new expiration deadline is 5:00 p.m. New York City time on September 4, 2026, unless further extended. The company said it anticipates continuing to extend the deadline until settlement dates align with the closing of the Warner Bros. Discovery acquisition. Settlement is currently expected to occur in the third quarter of 2026.

The extension is the latest in a series that began June 12, 2026, with prior extensions on June 26, July 13, July 17, July 24, July 31, August 7, and August 17.

As of 5:00 p.m. on August 21, 2026, approximately 64.26% of the aggregate principal amount of the existing tender offer notes and 73.82% of the existing exchange offer notes had been validly tendered. Paramount noted these figures are not expected to represent the final results of the offers.

The offers cover multiple series of notes issued by Discovery Global Holdings, Inc. and Discovery Communications, LLC, with aggregate principal amounts ranging from approximately $3.2 million to over $4.1 billion per series. Paramount is offering to purchase certain notes for cash and to exchange others for newly issued Paramount notes.

BofA Securities and Citigroup are serving as dealer managers for the offers. Global Bondholder Services Corporation is acting as exchange agent and information agent. Latham & Watkins LLP is serving as legal counsel to Paramount, and Cahill Gordon & Reindel LLP is serving as legal counsel to the dealer managers.

Holders may withdraw tendered notes at any time prior to the expiration date.

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