Paramount Skydance extends debt offers to October 6

Paramount Skydance Corporation announced on September 28, 2026, that it has extended the expiration dates for its cash tender offers and exchange offers to 5:00 p.m., New York City time, on October 6, 2026. Settlement is anticipated to take place in the fourth quarter of 2026 on or promptly after the closing date of the proposed acquisition of Warner Bros. Discovery.

The transactions involve existing debt notes issued by Discovery Global Holdings and Discovery Communications. Under the exchange offers, eligible holders swap existing notes for newly issued notes from Paramount Skydance. Holders can withdraw tendered notes at any time prior to the expiration date.

As of 5:00 p.m., New York City time, on September 25, 2026, approximately 67.33% of the aggregate principal amount of the tender offer notes and 74.88% of the exchange offer notes had been validly tendered. The company noted that it expects further extensions to align settlement with the closing of the acquisition, meaning these participation levels do not represent final results.

Paramount Skydance also modified the terms of the new exchange notes to align them with senior secured second lien notes that it intends to offer separately. BofA Securities and Citigroup are serving as dealer managers for the transactions.