Merger Closing Date and Shareholder Payout
Paramount Skydance Corporation and Warner Bros. Discovery, Inc. said the deal is slated to be finalized on October 6, 2026, assuming the usual closing requirements are met. The merger agreement, signed February 27, 2026, brings together WBD, PSKY and Prince Sub Inc. Once the merger takes effect, holders of WBD common stock outstanding just before that moment will receive cash, without interest, for each share — apart from shares voided without payment under the agreement or those whose holders have validly pursued appraisal rights.[S1]
The cash amount per share equals $31.00 plus an additional component calculated as $0.00277778 multiplied by the number of calendar days elapsed after September 30, 2026, up to and including the closing date. If the closing occurs on the anticipated date of October 6, 2026, each share will be converted into the right to receive $31.01666668 in cash without interest.[S1]
Company Profiles and Forward-Looking Risks
Warner Bros. Discovery is a global media and entertainment company that creates and distributes branded content across television, film, streaming and gaming. Its brands include Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español and Hogar de HGTV.[S1]
Paramount, a Skydance Corporation, is a global media and entertainment company with three business segments: Studios, Direct-to-Consumer, and TV Media. Its portfolio includes Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment.[S1]
The release contains forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Such statements carry risks and uncertainties, among them the possibility the merger is never completed or is completed on different terms or timing, events that could cause the deal to be terminated, closing conditions going unmet on schedule, merger-related litigation, diversion of management attention, harm to WBD's capacity to keep customers and staff and preserve business ties, downward pressure on WBD's share price, broader economic and market conditions, uncertainty in financial projections, the availability of financing, and how management addresses these matters. WBD's results may differ materially from those expressed or implied.[S1]
