Financing ·
Paramount Skydance plans $44.4B senior secured notes to fund Warner Bros. Discovery acquisition
PSKYSkydance Corp
Paramount Skydance Corporation announced on September 28, 2026, its intention to offer approximately $44.4 billion in aggregate principal amount of senior secured notes to fund the permanent financing for its acquisition of Warner Bros. Discovery, Inc. The offering includes U.S. dollar-denominated first lien notes and a mix of U.S. dollar- and euro-denominated second lien notes sold to qualified institutional buyers under Rule 144A. Proceeds will be used alongside cash on hand and other committed financing to pay the $78 billion acquisition price and repay existing debt. The company also furnished unaudited pro forma financial statements illustrating the combined entity's balance sheet and operations assuming the transaction closed as of June 30, 2026. Paramount Skydance Corporation is a global media and entertainment company operating in the Studios, Direct-to-Consumer, and TV Media segments.