Observed Signal · Oct 7, 2026 · M&A - Completed · Source: PR Newswire: Technology News · Impact: 4/5 · Sentiment: Neutral
Skydance Completes WBD Acquisition, Announces Bond Exchange Results
Skydance Corporation (formerly Paramount Skydance Corporation) announced the final tender and exchange offer results following the consummation of its acquisition of Warner Bros. Discovery (WBD) on October 6, 2026. Approximately 98.83% of eligible Tender Offer Notes and 99.15% of eligible Exchange Offer Notes were validly tendered. The offers were part of refinancing WBD's existing debt, with new Skydance notes issued in exchange. Settlement is expected on October 9, 2026. The acquisition creates a global media company with brands like Paramount+, HBO, and CNN, positioning it for scale in streaming and advertising.
Skydance completes acquisition of Warner Bros. Discovery, creating a major media conglomerate with significant advertising inventory and streaming assets, impacting the AdTech ecosystem.
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Key Takeaways & Evidence Grounding
- Skydance Corporation completed its acquisition of Warner Bros. Discovery on October 6, 2026.
- Approximately 98.83% of Tender Offer Notes and 99.15% of Exchange Offer Notes were validly tendered.
- Settlement of the offers is expected on October 9, 2026.
- The company will issue new SKYD notes in exchange for existing WBD notes.
- Skydance's portfolio includes Paramount+, HBO, CNN, and Pluto TV.
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1 Entity mapped“The Offers were made in connection with the acquisition by the Company of Warner Bros. Discovery, Inc....”
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Paramount Skydance posts strong Q1 before WBD takeover
Paramount Skydance reported stronger-than-expected first-quarter results as it prepares to complete its acquisition of Warner Bros Discovery (WBD). The company said revenue rose 2% to $7.3 billion and adjusted EBITDA reached $1.16 billion (up 59% year‑over‑year). Net income was $168 million. Studios and Direct‑to‑Consumer (streaming) revenue each grew about 11%, while traditional TV (CBS, Nickelodeon, MTV etc.) declined 6% with revenues of $3.67 billion. Paramount+ subscribers increased roughly 2% to 79.6 million. Paramount Skydance plans to close the WBD transaction, reported at $111 billion, in the third quarter; the deal included a $2.8 billion termination fee paid to Netflix. CEO David Ellison expressed optimism about the combined company's potential.
David Ellison completes WBD acquisition, forms Skydance
David Ellison, founder of Skydance Media, has completed the acquisition of Warner Bros. Discovery (WBD), merging it with Paramount Pictures to form a new conglomerate named Skydance. The deal, valued at approximately $31 per share in cash, was finalized after a complex negotiation process involving multiple bids and regulatory hurdles. The combined entity faces significant challenges, including approximately $80 billion in debt and planned cost savings of $6 billion. Ellison's father, Oracle founder Larry Ellison, provided substantial financial backing. The acquisition marks one of the largest in Hollywood history, positioning Skydance as a major player in the entertainment industry.
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
Paramount Skydance Corporation (NASDAQ: PSKY) announced the extension of the Expiration Dates in connection with the previously announced Tender Offers and Exchange Offers. Additionally, the company filed reply briefs in support of its request that the district court enforce the requirement that the State Attorneys General and the Writers Guild of America post a bond in connection with the WBD merger.
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