Warner Bros. Discovery, Inc. reports developments across its global media and entertainment business, including television, film, streaming and gaming. Recurring updates include quarterly earnings, conference-call materials, shareholder letters and corporate announcements tied to its branded content portfolio, including HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, Warner Bros. Motion Picture Group, Warner Bros. Television Group and Warner Bros. Games.
Company news also covers governance matters, shareholder voting items, material agreements and capital-structure disclosures related to WBD's public securities and corporate actions.
Skydance (NYSE: SKYD) announced three additions to its board and an advisor for the newly combined company, effective immediately.
The company was formed through Paramount's merger with Warner Bros. Discovery (NASDAQ: WBD). David Ellison remains chairman and chief executive officer. The board includes all current Paramount board members, joined by Skydance Co-CEO Ynon Kreiz, Emerson Collective founder and president Laurene Powell Jobs, and Activision founder and former CEO Bobby Kotick. Powell Jobs and Kotick join as independent directors. Former UK Prime Minister Tony Blair joins as a board advisor acting in a personal capacity.
Skydance (SKYD), formerly Paramount Skydance, completed its acquisition of Warner Bros. Discovery (WBD), paying shareholders $31.01666668 in cash per share. All required regulatory approvals and closing conditions were satisfied. WBD shares ceased Nasdaq trading, while Skydance Class B shares begin NYSE trading on October 6, 2026.
The transaction included $47 billion of new Class B equity investment priced at $12.00 per share, alongside debt financing. The combined business has nearly $70 billion in revenue and 200+ million streaming subscribers across platforms. Skydance targets $6 billion-plus in run-rate synergies over the next three years, net leverage of 3.0x by the end of 2029 and more than $10 billion in free cash flow by 2030. It commits to at least 30 theatrical films annually, each with a minimum 45-day theatrical window, and plans to unify its streaming products into one service over time.
Paramount Skydance (NASDAQ: PSKY) announced the leadership team expected to run Skydance after its anticipated acquisition of Warner Bros. Discovery (NASDAQ: WBD). The combined company would be led by Chairman and CEO David Ellison and Co-CEO Ynon Kreiz, with executives from both companies reporting directly to them. Ellison would oversee long-term strategy, creative direction, technology and capital allocation; Kreiz would manage daily operations and integration.
Andy Gordon would serve as president, and all three would join the board, chaired by Ellison. Dana Goldberg and Josh Greenstein would co-lead the motion picture group, while James Gunn and Peter Safran would co-chair DC Studios. The company plans to accelerate its integrated direct-to-consumer streaming platform and modernize technology to improve operations. These appointments depend on completion of the acquisition; a full executive leadership list is expected soon after closing.
Nasdaq (NDAQ) announced that Moderna will join the Nasdaq-100 Index before market open on October 9, 2026.
Moderna (MRNA) will replace Warner Bros. Discovery (WBD) as an index component. The Nasdaq-100 measures the performance of 100 of the largest Nasdaq-listed non-financial companies.
S&P Dow Jones Indices, a division of S&P Global (SPGI), announced index changes involving Workiva, Vylor, Twilio and other companies.
Vylor (VYLR) joined the S&P 500 on October 1, 2026, following its completed spin-off from Corteva. Before trading opens on October 6, Corteva (CTVA) leaves the S&P 500 for the S&P MidCap 400, replacing Olin (OLN), which replaces Qorvo (QRVO) in the S&P SmallCap 600. Twilio (TWLO) replaces Warner Bros. Discovery (WBD) in the S&P 500; Formfactor (FORM) replaces Twilio in the S&P MidCap 400; and Workiva (WK) replaces Formfactor in the S&P SmallCap 600.
Skyworks Solutions (SWKS) is acquiring Qorvo, and Paramount Skydance (PSKY) is acquiring Warner Bros. Discovery. Both deals are expected to close soon, pending final closing conditions. Paramount Skydance will move its primary listing to the NYSE after the merger.
Paramount Skydance (NASDAQ: PSKY) agreed to sell $41.4 billion in dollar-denominated secured notes to help finance its Warner Bros. Discovery acquisition. It also agreed to sell €885 million in secured notes. The notes carry first- or second-priority claims on collateral, with coupons ranging from 6.30% to 9.125% and maturities from 2028 to 2066. Their sale is expected to close on October 5, 2026.
Paramount also priced $8.5 billion and €850 million in secured term loans maturing in 2033. The dollar tranche increased from $7.5 billion, with a corresponding reduction in first-lien notes. Both loan tranches bear benchmark interest plus 2.75% annually, with stepdown provisions. Paramount intends to combine the proceeds with other funding to finance the WBD purchase price and repay certain existing debt. Completion of the notes offerings is not a condition of completing the acquisition.
Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) expect their merger to close on October 6, 2026, subject to customary closing conditions.
The transaction follows the February 27, 2026 merger agreement among WBD, PSKY and Prince Sub. At the merger's effective time, eligible outstanding WBD common shares will convert into the right to receive cash, without interest. The payment equals $31.00 per share plus $0.00277778 multiplied by the number of calendar days after September 30, 2026, through and including the actual closing date. If closing occurs on October 6, the payment will be $31.01666668 per eligible share. Shares canceled for no consideration under the agreement and shares for which appraisal rights have been properly exercised are excluded from this conversion.
Paramount Skydance (PSKY) plans to offer approximately $44.4 billion of senior secured notes to help finance its Warner Bros. Discovery acquisition. The proposed debt comprises U.S. dollar-denominated first-lien notes and U.S. dollar- and euro-denominated second-lien notes. Paramount plans to combine the net proceeds with cash on hand, previously announced term loans and equity financing to fund the acquisition price and repay certain existing debt.
The offerings are subject to market and other conditions. The principal amounts, interest rates, currency denominations and maturities of the note series remain subject to significant conditions, as does completion of the acquisition.
Warner Bros. Discovery (WBD) intends to delist its subsidiary’s Euro Notes from the Nasdaq Global Market amid its pending acquisition by Paramount Skydance.
The notes were issued by wholly owned subsidiary Discovery Global Holdings and are guaranteed by WBD and certain subsidiaries. One series bears interest at 4.302% and matures in 2030; the other bears interest at 4.693% and matures in 2033. The acquisition remains subject to customary closing conditions. WBD expects to file Form 25 around October 6, 2026, but may delay filing. Delisting takes effect on the 10th day after filing. WBD then expects to request deregistration and suspension of its reporting obligations for the notes. If completed, the delisting and deregistration will not change the notes’ terms.
Summary not available.