Mergers & Acquisitions ·
Completes $78B acquisition of Warner Bros. Discovery, issuing $41.4B in secured notes
PSKYSkydance Corp
Skydance Corporation completed its merger with Warner Bros. Discovery on October 6, 2026, creating a global media leader with nearly $70 billion in revenue. WBD shareholders received approximately $31.00 per share plus ticking consideration, totaling roughly $78 billion in cash. To finance the transaction, Skydance issued $41.4 billion in senior secured notes across multiple tranches maturing through 2066 and borrowed $9.35 billion in new term B-1 loans. The company also raised capital via a PIPE offering of nearly 3.92 billion shares at $12.00 per share. Andrew Brandon-Gordon was appointed President, and executive employment terms were extended with increased compensation packages. Skydance operates as a global media and entertainment company producing film, television content, and streaming services.