Skydance Corporation (NYSE: SKYD) completed its acquisition of Warner Bros. Discovery, Inc. on October 6, 2026, and announced the final results of concurrent tender offers and exchange offers tied to the transaction.

According to Global Bondholder Services Corporation, the tender agent for the offers, approximately 98.83% of the aggregate principal amount of existing notes eligible for the tender offers were validly tendered by the expiration date of 5:00 p.m. New York City time on October 6, 2026. The tender offers covered two series of notes issued by Discovery Global Holdings, Inc. and Discovery Communications, LLC. Settlement is expected on October 9, 2026.

For the tender offers, holders received consideration of $997.93 per $1,000 principal for the 3.755% Senior Notes due 2027 and $989.45 per $1,000 principal for the 3.950% Senior Notes due 2028, based on reference yields of 4.230% and 4.711%, respectively, with zero basis points fixed spread.

Separately, approximately 99.15% of the aggregate principal amount of notes eligible for the exchange offers were tendered. Holders exchanged existing notes on a $1,000-for-$1,000 basis into newly issued Skydance Corporation Senior Secured Second Lien Notes across 14 series, with maturities ranging from 2029 to 2052. Two euro-denominated series were also exchanged on a €1,000-for-€1,000 basis.

Notes accepted in the tender offers will be cancelled and will no longer remain outstanding obligations of the prior issuers. Notes acquired in the exchange offers will similarly be retired and cancelled. Any notes not tendered or exchanged will remain outstanding obligations of the respective original issuers.

The exchange offers were made only to qualified institutional buyers and non-U.S. persons under exemptions from Securities Act registration requirements.