Paramount Skydance extends WBD note tender and exchange offer deadline

Paramount Skydance Corporation (NASDAQ: PSKY) has extended the expiration dates for its tender offers and exchange offers related to notes issued by Warner Bros. Discovery subsidiaries, according to a press release from the company.

The new expiration date for both the tender offers and exchange offers is 5:00 p.m. Eastern time on September 11, 2026, unless further extended. Settlement dates are expected to occur in the third quarter of 2026, following the expiration date.

Paramount stated it anticipates continuing to extend the expiration date until it aligns with the closing of its proposed acquisition of Warner Bros. Discovery, Inc. The extension marks the tenth such extension, following previous extensions on June 12, June 26, July 13, July 17, July 24, July 31, August 7, August 17, and August 24, 2026.

As of 5:00 p.m. Eastern time on August 28, 2026, approximately 66.28% of the aggregate principal amount of the existing tender offer notes and 75.48% of the existing exchange offer notes had been validly tendered. Paramount noted these figures are not considered representative of the final results, given the anticipated further extensions.

The offers cover multiple series of senior notes issued by Discovery Communications, LLC and Discovery Global Holdings, Inc., formerly WarnerMedia Holdings, Inc., with aggregate principal amounts ranging from approximately $3.2 million to over $4.1 billion per series. Holders may withdraw tendered notes at any time prior to the expiration date.

BofA Securities and Citigroup are serving as dealer managers for the offers. Global Bondholder Services Corporation is acting as exchange agent and information agent.

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