Recent Updates — SKYD

Skydance Corporation completed its previously announced merger with Warner Bros. Discovery on October 6, 2026, creating a combined global media and entertainment entity. In connection with the transaction, Skydance issued approximately $11.98 billion in U.S. dollar-denominated senior secured second lien notes and €546 million in euro-denominated notes to exchange holders of WBD debt. Concurrently, the company purchased approximately $2.39 billion in aggregate principal amount of existing tender offer notes for $2.38 billion in cash. Skydance also distributed warrants to purchase Class B Common Stock at a ratio of one warrant per share held as of October 5, 2026, with an initial exercise price of $12.00 per share. The company operates in the media and entertainment industry, producing and distributing content across studios, direct-to-consumer streaming platforms, and television networks.

Skydance Corporation appointed Robert A. Kotick and Laurene Powell Jobs to its Board of Directors, effective upon the closing of the previously disclosed Agreement and Plan of Merger with Warner Bros. Discovery (WBD). Mr. Kotick joins the Nominating and Governance Committee; he is the former CEO of Activision Blizzard and served on boards including Coca-Cola and Yahoo. Ms. Powell Jobs, founder of Emerson Collective and chair of The Atlantic, brings expertise in philanthropy and venture capital. Both directors are eligible for standard compensation under the Company’s Non-Employee Director Compensation Program and have entered into indemnification agreements. Skydance Corporation operates as a media and entertainment company.

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.

Paramount Skydance Corporation announced it will change its name to Skydance Corporation and transfer the listing of its Class B common stock from Nasdaq to the New York Stock Exchange (NYSE), effective approximately October 6, 2026. Concurrently, the ticker symbol will change from "PSKY" to "SKYD." The company also confirmed that the NYSE will announce the ex-dividend date for a previously announced distribution of warrants on or about October 6, 2026. These administrative changes are tied to the ongoing acquisition of Warner Bros. Discovery, Inc. Skydance Corporation operates in the entertainment and media industry.

Paramount Skydance appointed Ynon Kreiz as Co-Chief Executive Officer and Board member effective October 5, 2026, while David Ellison remains sole principal executive officer. Kreiz receives a $3.5 million base salary and $1.5 million target bonus, increasing to $5 million and $4.9 million respectively upon the Warner Bros. Discovery merger closing. He is granted RSUs totaling 3.875 million shares plus annual awards valued at $15 million ($20.1 million post-closing). The WBD merger is expected to close on October 6, 2026, converting each WBD share into approximately $31.02 in cash. Paramount Skydance operates as a global media and entertainment company.