WASHINGTON (dpa-AFX) - Paramount Skydance Corp. (PSKY) and Warner Bros. Discovery, Inc. (WBD) announced that their proposed merger is expected to close on October 6, subject to customary closing conditions.
Separately, Paramount Skydance announced $41.4 billion and 885 million euros senior secured notes offerings and $8.5 billion and 850 million euros Term Loan B facility pricing.
Paramount Skydance said it intends to utilize the net proceeds of the Notes offerings, together with cash on hand and borrowings to, among other things, finance the purchase of Warner Bros. and the repayment of certain existing debt.
It was in February 2026 that Paramount announced its definitive merger agreement to acquire Warner Bros. in an all-cash transaction valued at $81 billion in equity and $110 billion in enterprise value. The deal is expected to position Paramount as a premier global media and entertainment powerhouse.
The proposed merger had faced many hurdles, mainly on antitrust and competition concerns.
Last week, the California-Led coalition of 12 Attorneys General reached a settlement resolving the states' lawsuit over the merger's antitrust and competition issues, clearing the way for merger completion.
In the overnight activity on the Nasdaq, Warner Bros shares were losing 0.06%, while Paramount was gaining 0.87%.
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