Paramount Skydance extends bond offer deadlines to July 22

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

The new expiration date is 5:00 p.m. New York City time on July 22, 2026, unless further extended. Settlement is anticipated to occur in the third quarter of 2026, with Paramount stating it expects to align the settlement date with the closing date of the Warner Bros. Discovery acquisition. The extension follows two prior deadline extensions on June 12 and June 26, 2026.

As of 5:00 p.m. on July 10, 2026, approximately 28.28% of the aggregate principal amount of notes subject to tender offers and 47.09% of notes subject to exchange offers had been validly tendered. Paramount noted it does not view these figures as representative of final results, given the anticipated further extensions.

The offers cover multiple series of notes issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) and Discovery Communications, LLC, with aggregate principal amounts across the series ranging from approximately $3.2 million to over $4.1 billion. The exchange offers are restricted to qualified institutional buyers and non-U.S. persons under applicable securities law exemptions.

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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