Paramount Skydance and Warner Bros. Discovery Announce Merger Closing Date
Paramount Skydance Corporation (NASDAQ: PSKY) and Warner Bros. Discovery, Inc. (NASDAQ: WBD) announced that their merger is expected to close on October 6, 2026, subject to customary conditions. The deal was initially agreed upon in February 2026 under the terms of a Merger Agreement. Under the agreement, each share of WBD common stock will be converted into $31.0167 cash if the merger closes on October 6, 2026. This amount includes an additional payment based on days elapsed after September 30, reflecting ongoing obligations until closing. Both companies are major players in media and entertainment, with WBD owning brands like HBO Max, CNN, and Discovery Channel, while Paramount operates under Skydance and owns CBS, MTV, BET, and others. The merger is expected to create a powerful combined entity across film, television, streaming, and gaming.
Topics: corporate_development entertainment media