Paramount Skydance Extends Debt Exchange Offers Amid WBD Acquisition

Paramount Skydance Corporation has pushed back the expiration dates for its ongoing debt tender and exchange offers to July 1, 2026, as the company seeks to align the settlement of these financial instruments with the closing timeline of its proposed acquisition of Warner Bros. Discovery.

The extension applies to various series of notes previously issued by Discovery Global Holdings and Discovery Communications. As of June 11, 2026, approximately 11.12% of the tender offer notes and 16.30% of the exchange offer notes had been validly submitted by holders. Paramount management indicated these participation figures are not reflective of final results, noting that the timeline remains fluid to ensure the closing of the acquisition and the subsequent debt settlement occur in close proximity, likely within the third quarter of 2026.

Participation in the exchange offers remains restricted to qualified institutional buyers and non-U.S. persons under specific regulatory exemptions. While the company is managing these offers through BofA Securities and Citigroup, it emphasized that the process is independent of the target entities and carries no formal recommendation to shareholders. Holders maintain the right to withdraw their tenders at any point before the new July 1 deadline.