Paramount Skydance Corporation (PSKY)

Paramount Skydance Corporation Announces: Extension of Expiration Dates of Previously Announced Exchange Offers and Tender OffersJune 12, 2026 9:00 AM
PR Newswire (US) LOS ANGELES and NEW YORK, June 12, 2026 /PRNewswire/ -- PARAMOUNT SKYDANCE CORPORATION (NASDAQ: PSKY) ("Paramount") today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the "Offer to Purchase"), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the "DGH Issuer") and Discovery Communications, LLC (the "DCL Issuer" and together with the DGH Issuer, each a "WBD Issuer" and collectively the "WBD Issuers"), as applicable, and (ii) offers to exchange (the "Exchange Offers" and each, an "Exchange Offer" and, together with the Tender Offers, the "Offers" and each, an "Offer"), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the "Offering Memorandum"), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the "Offer Notes") issued by the applicable WBD Issuer for notes to be newly issued by Paramount.The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m., New York City time, on July 1, 2026, unless further extended. The Settlement Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) will occur promptly after the Expiration Date and are currently anticipated to occur in the third quarter of 2026. Paramount anticipates extending the Expiration Date for such Tender Offers and Exchange Offers until such time that would result in the Settlement Dates occurring on the closing date of the proposed acquisition (the "Acquisition") by Paramount of Warner Bros. Discovery, Inc. ("WBD") or within one business day thereof. Tenders of the Offer Notes in the Offers may be withdrawn at any time prior to the Expiration Date.As of 5:00 p.m., New York City time, on June 11, 2026, approximately 11.12% and 16.30% of the aggregate principal amount of the Existing Tender Offer Notes and Existing Exchange Offer Notes, respectively, have been validly tendered in the applicable Offers. As Paramount previously announced that it anticipates extending the Offers to align with the closing date of the Acquisition, Paramount does not view these figures to be representative of the final results of the applicable Offers.Information about each series of Offer Notes eligible to participate in the Offers is summarized below.Type of OfferOffer Notes to be Tendered
or Exchanged, as
ApplicableIssuer of Offer NotesCUSIP No. / Common Code
/ ISIN Eligible to
Participate in the Offers (1)Aggregate Principal
Amount of Offer Notes
Eligible to Participate in the
Offers (2)Tender Offer3.950% Senior Notes due
2028DCL Issuer25470D CP2
US25470DCP24$1,234,458,000Exchange Offer4.125% Senior Notes due
2029DCL Issuer25470D CQ0
US25470DCQ07$655,825,000Exchange Offer3.625% Senior Notes due
2030DCL Issuer25470D CR8
US25470DCR89$914,183,000Exchange Offer5.000% Senior Notes due
2037DCL Issuer25470D CS6
US25470DCS62$453,281,000Exchange Offer6.350% Senior Notes due
2040DCL Issuer25470D CT4
US25470DCT46$438,102,000Exchange Offer4.950% Senior Notes due
2042DCL Issuer25470D CU1
US25470DCU19$130,366,000Exchange Offer4.875% Senior Notes due
2043DCL Issuer25470D V91
CV9US25470DC$141,584,000Exchange Offer5.200% Senior Notes due
2047DCL Issuer25470D W74
CW7US25470DC$3,161,000Exchange Offer5.300% Senior Notes due
2049DCL Issuer25470D X57
CX5US25470DC$247,860,000Tender Offer3.755% Senior Notes due
2027DGH Issuer254948 AH5
US254948AH58
254948 AN2
US254948AN27
U25483 AA3
USU25483AA38$1,189,336,000Exchange Offer4.054% Senior Notes due
2029DGH Issuer254948 AJ1
US254948AJ15
254948 AP7
US254948AP74
U25483 AB1
USU25483AB11$1,353,828,000Exchange Offer4.279% Senior Notes due
2032DGH Issuer254948 AK8
US254948AK87
254948 AQ5
US254948AQ57$2,691,764,000Exchange Offer5.050% Senior Notes due
2042DGH Issuer254948 AL6
US254948AL60
254948 AR3
US254948AR31
U25483 AD7
USU25483AD76$4,104,687,000Exchange Offer5.141% Senior Notes due
2052DGH Issuer254948 AM4
US254948AM44
254948 AS1
US254948AS14$949,883,000Exchange Offer4.302% Senior Notes due
2030DGH IssuerXS3393993285
339399328€234,382,000Exchange Offer4.693% Senior Notes due
2033DGH IssuerXS3393994507
339399450€316,641,000__________1.No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Offer Notes. Such identifiers are provided solely for the convenience of the holders.2.Represents the aggregate principal amount of Offer Notes outstanding that are eligible to participate in the Offers.The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations of the Securities and Exchange Commission (the "SEC") promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable Existing Exchange Offer Notes who are (a) reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act or (b) not "U.S. persons," as defined in Rule 902 of Regulation S under the Securities Act (such holders, "Eligible Holders"), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.GeneralEach Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount's sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder's Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the "Exchange Agent") and information agent (in such capacity, the "Information Agent") for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount.Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the "Dealer Managers") for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory @Peter Sherman (toll-free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.About Paramount, a Skydance Corporation Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.PSKY-IRCautionary Note Concerning Forward-Looking StatementsThis communication contains "forward-looking statements" regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the "Combined Company"); the adverse impact on the Combined Company's advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company's decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company's content; damage to the Combined Company's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company's intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company's business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company's operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," Paramount's most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and Paramount's subsequent filings with the SEC, and in WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned "Item 1A. Risk Factors," WBD's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD's subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law. View original content:https://www.prnewswire.com/news-releases/paramount-skydance-corporation-announces-extension-of-expiration-dates-of-previously-announced-exchange-offers-and-tender-offers-302799038.htmlSOURCE Paramount Skydance Corporation Original: Paramount Skydance Corporation Announces: Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers

Paramount Skydance Deal for Warner Bros Discovery Enters EU Foreign Subsidy ReviewJune 10, 2026 8:36 AM
IH Market News European Regulators Assess Foreign Funding in Proposed Acquisition Paramount Skydance Corp (NASDAQ:PSKY) has begun the process of securing European Union approval for its proposed acquisition of Warner Bros Discovery (NASDAQ:WBD), with regulators set to examine the transaction under the bloc’s foreign subsidies framework. According to a filing with the European Commission, the U.S. media and entertainment group submitted its application on Tuesday under the EU Foreign Subsidies Regulation, legislation designed to address concerns that state-backed financial support from non-EU countries could distort competition within the European market. Commission Faces July Deadline The European Commission has until 14 July to determine whether the transaction can proceed without conditions or whether a more extensive investigation is required. Should regulators decide to open a formal probe, the review process could be extended by up to 90 working days while officials conduct a deeper assessment of the deal and its funding structure. Sovereign Wealth Funds Among Backers The proposed acquisition has attracted financial support from several Middle Eastern sovereign wealth funds. Among the investors backing the transaction are Saudi Arabia’s Public Investment Fund, Abu Dhabi-based L’imad Holding Company and the Qatar Investment Authority. Their involvement has triggered scrutiny under the EU’s foreign subsidy rules, which were introduced to examine whether state-linked financing provides companies with an unfair competitive advantage when pursuing acquisitions within Europe. Merger Review Expected to Be More Complex In addition to the foreign subsidy assessment, the acquisition is also being reviewed under the European Union’s merger control regulations. Industry observers expect the competition review to present a greater challenge than the subsidy investigation, with regulators likely to focus on the impact of the combined business on media and broadcasting markets across Europe. The companies may be required to offer remedies to secure approval, potentially including the sale of certain assets such as a children’s television channel to address competition concerns. More about Paramount Skydance Paramount Skydance Corp is a media and entertainment company focused on film, television and streaming content. Through the proposed acquisition of Warner Bros Discovery, the company aims to expand its global content portfolio, strengthen its position in direct-to-consumer media and create a larger international entertainment platform capable of competing with major streaming and content providers worldwide. Paramount Skydance stock price Warner Brothers Discovery stock price Original: Paramount Skydance Deal for Warner Bros Discovery Enters EU Foreign Subsidy Review

More poli-flak. States should be sued for tossing out fake releases just to harm investors. If California heads it up you know its fake, fraud or just plain failure. LoL. GO GO GO $$PSKY$$

Paramount Skydance Corporation Announces Results of Warner Bros.' Consent SolicitationsMay 27, 2026 9:15 AM
PR Newswire (US) LOS ANGELES and NEW YORK, May 27, 2026 /PRNewswire/ -- PARAMOUNT SKYDANCE CORPORATION (NASDAQ: PSKY) ("Paramount"). Warner Bros. Discovery, Inc. ("WBD") today announced it has received the requisite consents ("Requisite Consents") pursuant to the previously-announced consent solicitations (the "Consent Solicitations") conducted by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the "DGH Issuer") and Discovery Communications, LLC (the "DCL Issuer" and together with the DGH Issuer, each a "WBD Issuer" and collectively the "WBD Issuers") to adopt certain proposed amendments (the "Proposed Amendments") with respect to each of the indentures (the "Existing WBD Indentures") governing the WBD Issuers' respective senior unsecured notes (the "WBD Notes"). WBD announced that supplemental indentures to all three Existing WBD Indentures effectuating the Proposed Amendments were executed on May 26, 2026 in connection with the receipt of Requisite Consents and became effective at the time of execution, but will only become operative upon the payment date of the Consent Solicitations, which is expected to occur on or about May 29, 2026.The Consent Solicitations were conducted in connection with the proposed acquisition (the "Acquisition") by Paramount of WBD. Concurrently with the Consent Solicitations, Paramount separately commenced offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the "Offer to Purchase"), certain WBD Notes and offers to exchange (the "Exchange Offers" and each, an "Exchange Offer", and together with the Tender Offers, the "Offers"), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the "Offering Memorandum"), certain WBD Notes. The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers.In order to be eligible to participate in the Exchange Offers and the Tender Offers, holders of WBD Notes subject to such Offers were required to deliver consents in the Consent Solicitations. As a result of the consents validly delivered and not validly revoked in connection with the Consent Solicitations, approximately $12.1 billion and approximately €0.6 billion of WBD Notes will be eligible to participate in the Exchange Offers and approximately $2.4 billion of WBD Notes will be eligible to participate in the Tender Offers. In addition, $2.5 billion of WBD's unsecured notes are not subject to the Exchange Offers or the Tender Offers and approximately $0.1 billion of WBD Notes that were eligible for the Offers if they had delivered consents did not validly deliver consents in the Consent Solicitations.Information about each series of WBD Notes, including the results of the Consent Solicitations for WBD Notes eligible to participate in the Offers, is summarized below.WBD NotesAggregate Principal
Amount OutstandingCUSIP No. / Common Code /
ISIN Eligible to Participate in
Consent Solicitation and Concurrent Paramount Offers (1) Aggregate Principal Amount
of WBD Notes with Consents
Delivered Eligible to Participate in Offers (2)3.950% Senior Notes due 2028$1,389,365,00025470D BS7US25470DBS71$1,234,458,0004.125% Senior Notes due 2029$750,000,00025470D CA5US25470DCA54$655,825,0003.625% Senior Notes due 2030$1,000,000,00025470D CC1US25470DCC11$914,183,0005.000% Senior Notes due 2037$548,132,00025470D BY4US25470DBY40$453,281,0006.350% Senior Notes due 2040$657,994,00025470D BZ1US25470DBZ15$438,102,0004.950% Senior Notes due 2042$218,508,00025470D BW8US25470DBW83$130,366,0004.875% Senior Notes due 2043$214,974,00025470D BX6US25470DBX66$141,584,0005.200% Senior Notes due 2047$152,103,00025470D BV0US25470DBV01$3,161,0005.300% Senior Notes due 2049$279,031,00025470D BU2US25470DBU28$247,860,0003.755% Senior Notes due 2027$1,350,039,00055903V BL6US55903VBL6255903VBK8US55903VBK89U55632 AM2USU55632AM23$1,189,336,0004.054% Senior Notes due 2029$1,500,000,00055903V BY8US55903VBY8355903VBX0US55903VBX01U55632 AT7USU55632AT75$1,353,828,0004.279% Senior Notes due 2032$3,012,152,00055903V BQ5US55903VBQ5955903V BP7US55903VBP76$2,691,764,0005.050% Senior Notes due 2042$4,301,142,00055903V BW2US55903VBW2855903V BV4US55903VBV45U55632 AS9USU55632AS92$4,104,687,0005.141% Senior Notes due 2052$1,080,704,00055903V BU6US55903VBU6155903V BT9US55903VBT98$949,883,0004.302% Senior Notes due 2030€301,077,000XS3099830765309983076€234,382,0004.693% Senior Notes due 2033€395,568,000XS3099829593309982959€316,641,000






(1)No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the WBD Notes. Such identifiers are provided solely for the convenience of the holders.(2)Represents the aggregate principal amount of WBD Notes outstanding for which consents had been validly delivered and had not been validly revoked as of 5:00 p.m., New York City time, on May 26, 2026, that are eligible to participate in the Offers.The Exchange Offers and Tender Offers will expire at 5:00 p.m., New York City time, on June 17, 2026, subject to extension (the "Expiration Date"), and settlement of the Exchange Offers and Tender Offers is conditioned on the closing of the Acquisition. Paramount currently anticipates extending the expiration date for such Exchange Offers and Tender Offers until the time of the consummation of the Acquisition. Tenders of WBD Notes in the Exchange Offers and the Tender Offers may be withdrawn at any time prior to the Expiration Date.The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations of the Securities and Exchange Commission (the "SEC") promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable WBD Notes who are (a) reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933 or (b) not "U.S. persons," as defined in Rule 902 of Regulation S under the Securities Act (such holders, "Eligible Holders"), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.GeneralEach Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount's sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of WBD Notes subject to the Offers (the "Offer Notes"). Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder's Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the "Exchange Agent") and information agent (in such capacity, the "Information Agent") for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount. Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the "Dealer Managers") for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory @Peter Sherman (toll-free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.About Paramount, a Skydance Corporation Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.Cautionary Note Concerning Forward-Looking StatementsThis communication contains "forward-looking statements" regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the WBD Issuers' ability to settle the Consent Solicitations on the terms described herein or at all; the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the "Combined Company"); the adverse impact on the Combined Company's advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company's decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company's content; damage to the Combined Company's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company's intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company's business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company's operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," Paramount's most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and Paramount's subsequent filings with the SEC, and in WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned "Item 1A. Risk Factors," WBD's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD's subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.Media Contacts:
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.com Brunswick Group
ParamountSkydance@brunswickgroup.com Gagnier Communications
Dan Gagnier
dg@gagnierfc.com Investor Contacts:
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas@paramount.com  View original content:https://www.prnewswire.com/news-releases/paramount-skydance-corporation-announces-results-of-warner-bros-consent-solicitations-302783132.htmlSOURCE Paramount Skydance Corporation Original: Paramount Skydance Corporation Announces Results of Warner Bros.' Consent Solicitations

Paramount Skydance Corporation Announces: Offer to Purchase for Cash Any and All of the Identified Notes in each Series of Existing Tender Offer Notes and Offer to Exchange for Newly Issued Notes of Paramount Skydance Corporation ("New PSKY Notes") Any andMay 19, 2026 5:06 PM
PR Newswire (US) LOS ANGELES and NEW YORK, May 19, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today announced that it has commenced (i) offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the "Offer to Purchase"), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the "DGH Issuer") and Discovery Communications, LLC (the "DCL Issuer" and together with the DGH Issuer, each a "WBD Issuer" and collectively the "WBD Issuers"), as applicable, and (ii) offers to exchange (the "Exchange Offers" and each, an "Exchange Offer"), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the "Offering Memorandum"), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the "Offer Notes") issued by the applicable WBD Issuer for newly issued New PSKY Notes (defined by reference to the table set forth below) to be issued by Paramount with the same currency, maturity date, interest payment dates and interest rates (with certain exceptions as indicated on the table below) as the Existing Exchange Offer Notes validly tendered and accepted in the Exchange Offers. The Tender Offers and Exchange Offers (together, the "Offers") are being conducted in connection with the proposed acquisition (the "Acquisition") by Paramount of Warner Bros. Discovery, Inc. ("WBD"), the parent entity of the WBD Issuers. The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers.Concurrently with the Offers, the WBD Issuers have commenced solicitations (collectively, the "Consent Solicitations"), upon the terms and subject to the conditions set forth in the related consent solicitation statement, of consents from holders of certain series of notes issued by the WBD Issuers (the "WBD Notes") to certain proposed amendments (the "Proposed Amendments") to the indentures governing the WBD Notes (the "Existing WBD Indentures") that would (i) extend the deadline by which the WBD Issuers are obligated to commence an offer for junior lien secured notes ("Junior Lien Exchange Notes") of the WBD Issuers in exchange for the WBD Notes (a "Required Exchange Transaction") from December 30, 2026 to the End Date (as defined in the Agreement and Plan of Merger governing the Acquisition (the "Merger Agreement")), which is March 4, 2027 (as such date may be extended by the parties to the Merger Agreement); provided that if the Merger Agreement is validly terminated on or prior to the End Date, such deadline shall mean the date that is the later of (x) December 30, 2026 and (y) 90 calendar days following the date on which the Merger Agreement is validly terminated, (ii) specify that such Junior Lien Exchange Notes either: (1) if the Acquisition is consummated, (a) will not include a restrictive liens covenant or a restricted debt prepayments covenant, (b) will be guaranteed on a senior basis by WBD and each subsidiary of the applicable WBD Issuer that is an obligor under the senior secured funded debt facility with the lowest lien priority to which WBD is an obligor as of the consummation of the Acquisition (the "Applicable Take-Out Facility"), (c) will be secured by the assets of WBD, the applicable WBD Issuer, and such applicable guarantor subsidiaries, with such modifications as deemed necessary or advisable by the applicable WBD Issuer to reflect liens on such assets that are junior in priority to the Applicable Take-Out Facility, and (d) the requirement that the Required Exchange Transaction be for the same principal amount of Junior Lien Exchange Notes will be removed, or (2) if the Acquisition is not consummated or the Merger Agreement is terminated pursuant to its terms, will be substantially consistent (as determined by the applicable WBD Issuer (in its sole discretion)) with the terms expressly set forth under the "Brief Description of the Junior Lien Exchange Notes" section of the offer to purchase and consent solicitation statement, dated as of June 9, 2025, subject to certain other modifications, and (iii) make certain technical and other modifications to reflect the foregoing contemplated amendments and to cure certain ambiguities in the Existing WBD Indentures.The WBD Notes include the Offer Notes, but not all WBD Notes are Offer Notes. In order to be eligible to participate in any Offer, holders of Offer Notes must first deliver their consents in the Consent Solicitations. In accordance with the terms of the Consent Solicitations, holders of Offer Notes identified by the CUSIP No./Common Code/ISIN set forth in the tables below who have validly delivered (and not validly revoked) consents in the Consent Solicitations will receive a temporary CUSIP or ISIN number (a "Temporary Identifier") for their applicable Offer Notes, which Offer Notes will, from the period commencing from the receipt by the holders of such Temporary Identifier until the expiration of applicable Offer, trade separately from the Offer Notes of holders who have not so consented or whose WBD Notes are not Offer Notes, each of which will retain their existing identifier. Only holders of Offer Notes bearing a Temporary Identifier will be eligible to participate in the applicable Offer. The Offers are, in each case, subject to the satisfaction or waiver of certain conditions, including, among other things, the conditions that (i) requisite consents are received for each of the Proposed Amendments in the Consent Solicitations and (ii) the Acquisition is consummated. As a result, the settlement of the Offers is conditioned on the closing of the Acquisition, and Paramount currently anticipates extending the expiration date for such Offers until such time that would result in the Settlement Date (as defined below) occurring on the closing date of the Acquisition or within one business day thereof.Tender OffersThe consideration offered in the Tender Offers per $1,000 in aggregate principal amount of Existing Tender Offer Notes tendered is summarized below.Existing Tender 
Offer Notes to be
TenderedIssuer of 
Existing
Tender
Offer NotesAggregate Principal
Amount OutstandingCUSIP No. / ISIN(1)Reference U.S.
Treasury SecurityFixed 
Spread
(basis
points)Bloomberg
Reference
Page(2)3.755% Senior Notes due 2027DGH Issuer $1,195,271,00055903V BL6
US55903VBL62
55903VBK8
U55632 AM2
USU55632AM234.250% U.S.T. due
March 15, 20270 bps     FIT3     3.950% Senior Notes due 2028 DCL Issuer $1,249,026,000 25470D BS7US25470DBS71  3.875% U.S.T. due
March 15, 20280 bps          FIT4            __________1.No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Existing Tender Offer Notes. Such identifiers are provided solely for the convenience of the Tender Noteholders (as defined below). Tender Noteholders who have validly delivered (and not validly revoked) their consents pursuant to the Consent Solicitations will receive a Temporary Identifier for their applicable Existing Tender Offer Notes, which Existing Tender Offer Notes will, from the period commencing from the receipt by the holders of such Temporary Identifier until the expiration of applicable Tender Offer, trade separately from the Existing Tender Offer Notes of holders who have not so consented and from the WBD Notes that are not Offer Notes, each of which will retain their existing identifier as reflected in the table set forth above. Only holders of Existing Tender Offer Notes bearing a Temporary Identifier will be eligible to participate in the Tender Offers.2.The Bloomberg Reference Page is provided for convenience only. To the extent any Bloomberg Reference Page changes prior to the Price Determination Date (as defined below), the Dealer Managers (as defined herein) will quote the applicable Reference Treasury Security (as defined below) from the updated Bloomberg Reference Page.Holders of Existing Tender Offer Notes ("Tender Noteholders") with a Temporary Identifier who validly tender (and do not validly withdraw) their Existing Tender Offer Notes in the applicable Tender Offer at or prior to 5:00 p.m., New York City time, on June 17, 2026 (the "Tender Expiration Date"), and who beneficially own such tendered Existing Tender Offer Notes on the Tender Expiration Date, will be eligible to receive, for each $1,000 in aggregate principal amount of Existing Tender Offer Notes validly tendered and accepted for purchase pursuant to the Tender Offers, consideration (the "Tender Consideration") to be determined in the manner described in the Offer to Purchase by reference to the applicable fixed spread (the "Fixed Spread") specified in the table above for each series of Existing Tender Offer Notes over the yield (the "Reference Yield") based on the bid-side price of the applicable U.S. Treasury Security specified in the table above (the "Reference Treasury Security"), as calculated at 10:00 a.m., New York City time, on the date on which the Expiration Date occurs (such time and date, the "Price Determination Date"). For the applicable series of Existing Tender Offer Notes, if the Tender Offer Yield as determined in accordance with the Offer to Purchase (the "Tender Offer Yield") is less than the contractual annual rate of interest for such Existing Tender Offer Notes, then such Tender Consideration will be calculated based on the par call date; if the Tender Offer Yield as determined in accordance with the Offer to Purchase is higher than or equal to the contractual annual rate of interest for such series of Existing Tender Offer Notes, then such Tender Consideration will be calculated based on the maturity date.Tenders of Existing Tender Offer Notes may be withdrawn at any time prior to the Tender Expiration Date. There is no premium for tendering prior to the Tender Expiration Date. Upon the terms and subject to the conditions of the Tender Offers, the settlement date for the Tender Offers will occur promptly after the Tender Expiration Date and on or promptly following the closing date of the Acquisition (the "Tender Settlement Date"), which is expected to occur in the third quarter of 2026. In addition to the Tender Consideration, Paramount will pay in cash accrued and unpaid interest on the Existing Tender Offer Notes accepted in the Tender Offers from the applicable latest interest payment date for such series of Existing Tender Offer Notes to, but not including, the Tender Settlement Date.Paramount intends to pay the Tender Consideration and any applicable accrued and unpaid interest on the Existing Tender Offer Notes accepted in the Tender Offers using cash on hand. Existing Tender Offer Notes that are accepted and purchased in the Tender Offers will be cancelled and will no longer remain outstanding obligations of the WBD Issuers.Exchange OffersThe consideration offered in the Exchange Offers (i) per $1,000 in aggregate principal amount of U.S. dollar-denominated Existing Exchange Offer Notes tendered and (ii) per €1,000 in aggregate principal amount of Euro-denominated Existing Exchange Offer Notes tendered, in each case, is summarized below.



Consideration per $/€1,000 principal amount
of Existing Exchange Offer NotesExisting Exchange Offer Notes
to be TenderedIssuer of Existing
Exchange Offer
NotesAggregate Principal
Amount OutstandingCUSIP No. /
Common Code /
ISIN(1)New PSKY Notes Offered and Exchange
Consideration       4.125% Senior Notes due 2029                  DCL Issuer           $662,268,000          25470D CA5          US25470DCA54          $1,000 in aggregate principal amount of 6.250%          
Senior Secured Second Lien Notes due 20293.625% Senior Notes due 2030DCL Issuer$917,517,00025470D CC1US25470DCC11$1,000 in aggregate principal amount of 4.875%
Senior Secured Second Lien Notes due 20305.000% Senior Notes due 2037DCL Issuer$454,862,00025470D BY4US25470DBY40$1,000 in aggregate principal amount of 5.000%
Senior Secured Second Lien Notes due 20376.350% Senior Notes due 2040DCL Issuer$443,529,00025470D BZ1US25470DBZ15$1,000 in aggregate principal amount of 6.350%
Senior Secured Second Lien Notes due 20404.950% Senior Notes due 2042DCL Issuer$130,643,00025470D BW8US25470DBW83$1,000 in aggregate principal amount of 4.950%
Senior Secured Second Lien Notes due 20424.875% Senior Notes due 2043DCL Issuer$142,017,00025470D BX6US25470DBX66$1,000 in aggregate principal amount of 4.875%
Senior Secured Second Lien Notes due 20435.200% Senior Notes due 2047DCL Issuer$4,230,00025470D BV0US25470DBV01$1,000 in aggregate principal amount of 5.200%
Senior Secured Second Lien Notes due 20475.300% Senior Notes due 2049DCL Issuer$248,458,00025470D BU2US25470DBU28$1,000 in aggregate principal amount of 5.300%
Senior Secured Second Lien Notes due 20494.054% Senior Notes due 2029DGH Issuer$1,364,619,000 55903V BY8US55903VBY8355903VBX0US55903VBX01U55632 AT7USU55632AT75 $1,000 in aggregate principal amount of 6.304%
Senior Secured Second Lien Notes due 20294.279% Senior Notes due 2032DGH Issuer$2,702,229,000 55903V BQ5US55903VBQ5955903V BP7US55903VBP76  $1,000 in aggregate principal amount of 4.904%
Senior Secured Second Lien Notes due 20325.050% Senior Notes due 2042DGH Issuer$4,121,969,000 55903V BW2US55903VBW2855903V BV4US55903VBV45U55632 AS9USU55632AS92  $1,000 in aggregate principal amount of 5.050%
Senior Secured Second Lien Notes due 20425.141% Senior Notes due 2052DGH Issuer$953,926,000 55903V BU6US55903VBU6155903V BT9US55903VBT98 $1,000 in aggregate principal amount of 5.141%
Senior Secured Second Lien Notes due 20524.302% Senior Notes due 2030DGH Issuer€244,768,000 XS3099830765309983076 €1,000 in aggregate principal amount of 5.802%
Senior Secured Second Lien Notes due 20304.693% Senior Notes due 2033DGH Issuer€329,690,000 XS3099829593309982959€1,000 in aggregate principal amount of 5.068%
Senior Secured Second Lien Notes due 2033__________1.No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Existing Exchange Offer Notes. Such identifiers are provided solely for the convenience of the Eligible Holders (as defined below). In accordance with the terms of the Consent Solicitations, holders of Existing Exchange Offer Notes identified by the CUSIP No./Common Code/ISIN set forth in the table above who have validly delivered (and not validly revoked) their consents pursuant to the Consent Solicitations will receive a Temporary Identifier for their applicable Existing Exchange Offer Notes, which Existing Exchange Offer Notes will, from the period commencing from the receipt by the holders of such Temporary Identifier until the expiration of applicable Exchange Offer, trade separately from the Existing Exchange Offer Notes of holders who have not so consented and from the WBD Notes that are not Offer Notes, each of which will retain their existing CUSIP or ISIN number as reflected in the table set forth above. Only Eligible Holders of Existing Exchange Offer Notes bearing a Temporary Identifier will be eligible to participate in the Exchange Offers.Holders of Existing Exchange Offer Notes with a Temporary Identifier who are Eligible Holders and who validly tender (and do not validly withdraw) their Existing Exchange Offer Notes in the applicable Exchange Offer at or prior to 5:00 p.m., New York City time, on June 17, 2026 (the "Exchange Expiration Date" and together with the Tender Expiration Date, each an "Expiration Date"), and who beneficially own such tendered Existing Exchange Offer Notes on the Exchange Expiration Date, will be eligible to receive $1,000 or €1,000, as applicable, in aggregate principal amount of the applicable series of New PSKY Notes for each $1,000 or €1,000, as applicable, principal amount of Existing Exchange Offer Notes validly tendered for exchange (the "Exchange Consideration").Tenders of Existing Exchange Offer Notes may be withdrawn at any time prior to the Exchange Expiration Date. There is no cash payment or other premium being offered for tendering prior to the Exchange Expiration Date. Upon the terms and subject to the conditions of the Exchange Offers, the settlement date for the Exchange Offers will occur promptly after the Exchange Expiration Date and on or promptly following the closing date of the Acquisition (the "Exchange Settlement Date" and together with the Tender Settlement Date, each a "Settlement Date"). Interest on the New PSKY Notes will accrue from (and including) the most recent date on which interest has been paid on the corresponding series of Existing Exchange Offer Notes accepted in the Exchange Offers. On the first interest payment date following the Exchange Settlement Date, Paramount will pay interest equal to the sum of (i) all accrued and unpaid interest on the Existing Exchange Offer Notes accepted in the Exchange Offers from the latest applicable interest payment date for such series of Existing Exchange Offer Notes to, but not including, the Exchange Settlement Date plus (ii) all accrued and unpaid interest on the New PSKY Notes from (and including) the Exchange Settlement Date to such interest payment date.The New PSKY Notes will be guaranteed by each of Paramount's domestic subsidiaries that is an obligor under Paramount's existing credit agreement providing for term A loan facilities (the "New PSKY Notes Guarantors"), which, following the Acquisition, will include WBD and certain of its subsidiaries, and will be secured on a second lien basis by substantially all of the assets of Paramount and each of the New PSKY Notes Guarantors, subject to certain customary and other exceptions described in the Offering Memorandum.Neither Paramount nor the WBD Issuers will receive any cash proceeds from the Exchange Offers. The Existing Exchange Offer Notes exchanged by Eligible Holders in the Exchange Offers will be retired and cancelled and will not be reissued.The Exchange Offers are being made, and the New PSKY Notes and related guarantees by the New PSKY Notes Guarantors are being offered and issued, pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and the rules and regulations of the Securities and Exchange Commission (the "SEC") promulgated thereunder, and are also not being registered under any state or foreign securities laws. The New PSKY Notes may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the New PSKY Notes are only being offered and issued, to holders of Existing Exchange Offer Notes who are (a) reasonably believed to be "qualified institutional buyers" as defined in Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") or (b) not "U.S. persons," as defined in Rule 902 of Regulation S under the Securities Act (such holders, "Eligible Holders"), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.GeneralEach Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount's sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the New PSKY Notes, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder's Offer Notes for cash or New PSKY Notes in the applicable Offer. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the "Exchange Agent") and information agent (in such capacity, the "Information Agent") for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount.Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the "Dealer Managers") for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory @Peter Sherman (toll free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, including the Existing Tender Offer Notes, the Existing Exchange Offer Notes or the New PSKY Notes, and does not constitute an offer, solicitation (including pursuant to the Consent Solicitations), or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful. About Paramount, a Skydance Corporation Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment. Cautionary Note Concerning Forward-Looking StatementsThis communication contains "forward-looking statements" regarding the Acquisition and the other transaction referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the "Combined Company"); the adverse impact on the Combined Company's advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company's decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company's content; damage to the Combined Company's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company's intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company's business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company's operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," Paramount's most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and Paramount's subsequent filings with the SEC, and in WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned "Item 1A. Risk Factors," WBD's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD's subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.SOURCE Paramount Skydance Corporation Original: Paramount Skydance Corporation Announces: Offer to Purchase for Cash Any and All of the Identified Notes in each Series of Existing Tender Offer Notes and Offer to Exchange for Newly Issued Notes of Paramount Skydance Corporation ("New PSKY Notes") Any and

Between the 'Colbert Crash Discounts,' the 'Political Promos' and the 'Black Fridays Flak' I sure am appreciative of corporate media and fake forum facts driving PSKY pps down at diverse times to these sale prices. I'm loaded up and ready for lift off!

PARAMOUNT PICTURES & WARNER MUSIC GROUP ANNOUNCE PARTNERSHIP FOR THEATRICAL FILMS FOCUSED ON ICONIC ARTISTS & SONGWRITERSMay 7, 2026 1:00 PM
PR Newswire (US) NEW YORK, May 7, 2026 /PRNewswire/ -- Paramount Pictures and Warner Music Group (NASDAQ: WMG) have announced a multi-year, first-look deal. The companies will partner on theatrical films, drawing on the lives and music of WMG's legendary and contemporary roster of iconic artists and songwriters.WMG and its production partner, Unigram, led by Amanda Ghost and Gregor Cameron, will work with Paramount to develop each project in collaboration with the artists and songwriters or their estates.Robert Kyncl, CEO of Warner Music Group, said: "This collaboration with Paramount unites two forward-looking and innovative companies, and together we're taking a fresh approach to the space. Every artist deserves to tell the stories behind their life and music in their own creative way, and we're excited to partner with our incredible talent and world-class filmmakers to bring these stories to the big screen, growing their audiences around the world."Josh Greenstein and Dana Goldberg, Co-Chairs of Paramount Pictures, said: "We're excited to partner with WMG and their extraordinary artists to create powerful theatrical experiences inspired by generation-defining music and talent."WMG and Unigram are represented by WME.Access accompanying image here.About Warner Music Group
Warner Music Group (WMG) brings together artists, songwriters, entrepreneurs, and technology that are moving entertainment culture across the globe. WMG's Recorded Music division includes renowned labels such as 10K Projects, 300 Entertainment, Asylum, Atlantic, Big Beat, EastWest, Elektra, Erato, Fueled By Ramen, Nonesuch, Parlophone, Reprise, Rhino, Roadrunner, Sire, Spinnin', Warner Records, Warner Classics, and Warner Records Nashville. WMG's music publishing arm, Warner Chappell Music, has a catalog of over one million copyrights spanning every musical genre, from the standards of the Great American Songbook to the biggest hits of the 21st century. Warner Music Group is also home to ADA, which supports the independent community, as well as artist services division WMX. Follow WMG on Instagram, X, TikTok, LinkedIn, and Facebook.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.Media Contacts:For Warner Music Group
Hannah Karp
Hannah.Karp@wmg.comFor Paramount Pictures
Allison McLarty
Allison.McLarty@paramount.comBrooke Robertson
Brooke_Robertson@paramount.com View original content to download multimedia:https://www.prnewswire.com/news-releases/paramount-pictures--warner-music-group-announce-partnership-for-theatrical-films-focused-on-iconic-artists--songwriters-302765979.htmlSOURCE Warner Music Group Corp. Original: PARAMOUNT PICTURES & WARNER MUSIC GROUP ANNOUNCE PARTNERSHIP FOR THEATRICAL FILMS FOCUSED ON ICONIC ARTISTS & SONGWRITERS

PARAMOUNT CHIEF FINANCIAL OFFICER DENNIS CINELLI TO PARTICIPATE IN MOFFETTNATHANSON'S MEDIA, INTERNET & COMMUNICATIONS CONFERENCEMay 7, 2026 9:15 AM
PR Newswire (US) LOS ANGELES and NEW YORK, May 7, 2026 /PRNewswire/ -- Paramount Skydance Corporation (Nasdaq: PSKY) today announced that Chief Financial Officer Dennis Cinelli will participate in the MoffettNathanson Media, Internet and Communications Conference on Wednesday, May 13, 2026, at 1:30 p.m. ET / 10:30 a.m. PT.A live audio webcast will be available on Paramount's Investors homepage at ir.paramount.com. A replay of the audio webcast will be available in the Events and Webcasts section of the site shortly after the presentation.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.PSKY-IR  View original content:https://www.prnewswire.com/news-releases/paramount-chief-financial-officer-dennis-cinelli-to-participate-in-moffettnathansons-media-internet--communications-conference-302765374.htmlSOURCE Paramount Skydance Corporation Original: PARAMOUNT CHIEF FINANCIAL OFFICER DENNIS CINELLI TO PARTICIPATE IN MOFFETTNATHANSON'S MEDIA, INTERNET & COMMUNICATIONS CONFERENCE

Paramount and Blue Ant Media Strike Expanded Partnership, Naming Media Pulse the Exclusive Sales Partner for Paramount+ and Pluto TV in CanadaApril 27, 2026 8:00 AM
PR Newswire (Canada)

TORONTO, April 27, 2026 /CNW/ - Paramount in Canada and Media Pulse, a Blue Ant Media company, today announced an expanded partnership, naming Media Pulse as the exclusive direct sales and programmatic partner for Paramount's ad inventory in Canada. Media Pulse will represent both Paramount's SVOD platform, Paramount+, and its leading free-streaming service, Pluto TV. This deal enables Media Pulse to offer clients direct ad insertion opportunities across the full breadth of Paramount+ and PlutoTV's premium CTV inventory, enabling Canadian advertisers to reach highly-engaged audiences who enjoy streaming world-class content."This exclusive partnership with Pluto TV and Paramount+ in Canada is an exciting addition to our roster of premium partners, allowing us to further elevate the CTV experience and offer brands the opportunity to follow the viewer to a powerhouse of must-watch content," said Deborah Gurofsky, SVP and Managing Director, Media Pulse. "This collaboration gives brands direct, streamlined access to a 'Mountain of Entertainment' that spans every genre and reaches engaged audiences across the country.""This expanded partnership with Media Pulse reflects our commitment to growing Paramount's streaming business in Canada and our confidence in the market," said Lee Sears, President, International Markets Advertising Sales, Paramount. "Just as importantly, partnering with a Canadian sales organization gives advertisers a locally aligned option, reinforcing Paramount as a platform that aligns global scale with strong Canadian market access."Media Pulse clients will benefit from seamless ad integration and advanced targeting opportunities, including show, channel, and category sponsorships, custom interactive and high-impact ad units, and co-branded executions across Paramount+ and Pluto TV's Canadian catalogues. The Paramount+ SVOD service features Hollywood blockbusters, premium original series (The Madison, Landman, MobLand, and Canada Shore), and iconic brands including CBS News, MTV, and Nickelodeon. Complementing this, the free streaming service Pluto TV offers over 200 curated channels and 20,000 hours of content, including thousands of hit movies and television series.Media Pulse, a Blue Ant Media company, is an exclusive Connected TV marketplace delivering measurable and business-impacting Connected TV advertising strategies for Canadian brands as well as enhanced revenue opportunities for media owners and publishers. mediapulse.caAbout Blue Ant Media Corporation
Blue Ant Media (TSX: BAMI) is an international streamer, production studio, advertising sales, and rights-management business. The company operates a diverse portfolio of free streaming and pay TV channels internationally, including Love Nature, Cottage Life, Smithsonian Channel Canada, BBC Earth Canada, HauntTV, Homeful, and Love Pets, as well as the subscription streaming service MagellanTV. Its studio business produces and distributes a wide range of premium content across key genres for streaming and broadcast platforms worldwide. Blue Ant Media is headquartered in Toronto, with a presence in London, Los Angeles, Miami, New York, Washington, Singapore, Sydney, Halifax, Ottawa and Vancouver. blueantmedia.com | Instagram | LinkedInAbout Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.About Pluto TV Pluto TV, a Paramount Company, is the leading free streaming television service delivering hundreds of live linear channels and thousands of titles on-demand to a global audience. The Emmy ® award-winning service curates a diverse lineup of channels, in partnership with over 400 international media companies, offering a wide array of genres, languages and categories featuring movies, television series, sports, news, lifestyle, kids and much more. Pluto TV can be easily accessed and streamed across mobile, web and connected TV devices. Headquartered in Los Angeles, Pluto TV's growing international footprint extends across four continents and over 35 markets.





SOURCE Blue Ant Media Corporation

Original: Paramount and Blue Ant Media Strike Expanded Partnership, Naming Media Pulse the Exclusive Sales Partner for Paramount+ and Pluto TV in Canada

Warner Bros. Discovery Stockholders Approve Transaction with Paramount SkydanceApril 23, 2026 10:10 AM
PR Newswire (US)

NEW YORK, April 23, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("WBD" or the "Company") (NASDAQ: WBD) today announced that its stockholders voted to approve its previously announced transaction with Paramount Skydance Corporation ("Paramount") (NASDAQ: PSKY) at the Company's Special Meeting of Stockholders (the "Special Meeting") held earlier today."We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio," said Samuel A. Di Piazza, Jr., Chair of the Warner Bros. Discovery Board of Directors. "With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.""Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership," said David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. "Today's stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders. We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company."Based on the preliminary vote count from today's Special Meeting, WBD stockholders voted overwhelmingly to approve the adoption of the merger agreement with Paramount. Final vote results from the Special Meeting are subject to certification by the Company's independent inspector of election and will be filed with the U.S. Securities and Exchange Commission on a Form 8-K.The transaction is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Cautionary Statement Concerning Forward-Looking StatementsInformation set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Paramount, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Paramount and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (4) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (5) risks related to litigation brought in connection with the proposed transaction; (6) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (7) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (8) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (9) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (10) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections; (11) the ability to obtain or consummate financing or refinancing related to the proposed transaction; and (12) the response of WBD or Paramount management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Paramount's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the definitive proxy statement filed by WBD in connection with the proposed transaction. Neither WBD nor Paramount is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this communication are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-stockholders-approve-transaction-with-paramount-skydance-302751921.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Stockholders Approve Transaction with Paramount Skydance

Paramount Declares Quarterly Cash DividendApril 17, 2026 4:05 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, April 17, 2026 /PRNewswire/ -- Paramount Skydance Corporation ("Paramount") (NASDAQ: PSKY) today announced that its Board of Directors has declared a quarterly cash dividend of $0.05 per share, payable July 1, 2026, to each of its Class A and Class B shareholders of record as of June 15, 2026.About Paramount, a Skydance CorporationParamount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.PSKY-IR



View original content:https://www.prnewswire.com/news-releases/paramount-declares-quarterly-cash-dividend-302746262.htmlSOURCE Paramount Skydance Corporation

Original: Paramount Declares Quarterly Cash Dividend

PARAMOUNT TO REPORT FIRST QUARTER 2026 FINANCIAL RESULTS ON MAY 4, 2026April 13, 2026 4:01 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, April 13, 2026 /PRNewswire/ -- Paramount Skydance Corporation (Nasdaq: PSKY) announced today that it will report first quarter 2026 financial results on Monday, May 4, 2026. The company will conduct a conference call following the release of its earnings materials, with a live audio webcast available on Paramount's Investors homepage at ir.paramount.com beginning at 1:45 p.m. (PT) / 4:45 p.m. (ET).The conference call can also be accessed by dialing 800-715-9871 (U.S. domestic) or 646-307-1963 (international) using conference ID 69697. Please call five minutes in advance to ensure that you are connected prior to the call.An audio replay of the call will be available on May 4 in the Events and Webcasts section of Paramount's Investors homepage.The earnings release and any other information related to the call will be accessible on Paramount's Investors homepage as well.To automatically receive Paramount's latest financial news by email, please visit the Investors homepage and subscribe to email alerts.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.PSKY-IR 



View original content:https://www.prnewswire.com/news-releases/paramount-to-report-first-quarter-2026-financial-results-on-may-4-2026-302740795.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT TO REPORT FIRST QUARTER 2026 FINANCIAL RESULTS ON MAY 4, 2026

$PSKY: Almsot $3Milly Callflow into 9/18 $15calls..............

Theres some conviction there............... at $0.56 premium




Just saying !!!!!!!

GO $PSKY

PARAMOUNT LAUNCHES GLOBAL PUBLISHING IMPRINT TO EXPAND ICONIC FRANCHISES AND DEEPEN ORIGINAL STORYTELLINGApril 8, 2026 1:00 PM
PR Newswire (US)

NEW YORK, April 8, 2026 /PRNewswire/ -- Paramount, a Skydance Corporation (NASDAQ: PSKY), today announced the launch of its own publishing imprint, Paramount Global Publishing, marking a strategic expansion in how fans engage with the company's revered content while also creating new opportunities to develop original IP.Building on Paramount's legacy as one of the world's leading storytellers, the imprint – operating under the company's Products & Experiences division – will develop complementary publishing content inspired by its iconic portfolio of brands and franchises as well as generate new IP through the creation of original stories.Paramount will oversee direct development, creation and production of the Paramount Global Publishing books, with sales and distribution into the retail market to be handled by a yet-to-be-named partner. In tandem, Paramount will continue its licensing strategy, partnering with world-renowned publishers and distributors.Together, these efforts extend Paramount's globally connected ecosystem, creating new entry points for audiences to experience their favorite characters and stories."Stories that originate on the page have a unique power to build immersive worlds, create compelling characters and forge deeper connections with fans," said Josh Silverman, President, Global Products & Experiences, Paramount. "With the launch of Paramount Global Publishing, we're expanding the reach of our most beloved franchises while also introducing original stories to audiences around the world."Paramount Global Publishing will deliver a broad portfolio of storytelling across print, digital and audio, creating content that spans genres and connects with audiences of all ages from kids and families to adults.Launching first in the US and Canada, with plans to expand to other markets in the future, the imprint will be led by Amy Jarashow, Head of Global Publishing, reporting to Silverman.Paramount's distribution partner and initial title announcements will be shared at a later date.About Paramount Products & Experiences
Paramount Products & Experiences oversees all licensing, merchandising, and location-based experiences for Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company. The division brings to life iconic franchises and beloved characters through innovative products and immersive experiences across categories including toys, apparel, publishing, food and beverage, theme parks, hotels, cruises, attractions, and live entertainment. Its global portfolio is powered by content from brands such as Nickelodeon, Paramount Pictures, CBS, MTV, Comedy Central, and Paramount+, and fan-favorite franchises like PAW Patrol, SpongeBob SquarePants, Teenage Mutant Ninja Turtles, Star Trek and Yellowstone. To explore our range of consumer products and Paramount-branded merchandise, visit ParamountShop.com.



View original content:https://www.prnewswire.com/news-releases/paramount-launches-global-publishing-imprint-to-expand-iconic-franchises-and-deepen-original-storytelling-302737246.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT LAUNCHES GLOBAL PUBLISHING IMPRINT TO EXPAND ICONIC FRANCHISES AND DEEPEN ORIGINAL STORYTELLING

PARAMOUNT ISSUES STATEMENT ON JEFF SHELLApril 8, 2026 12:48 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, April 8, 2026 /PRNewswire/ -- Below is a statement regarding Jeff Shell:"PSKY's Board of Directors followed standard practice and, with the assistance of independent counsel, conducted a complete and thorough review of the allegations raised in a recently filed civil complaint that Mr. Shell, PSKY's President, had violated certain SEC disclosure rules. The facts demonstrated that these allegations do not establish a securities law violation. Mr. Shell promptly notified PSKY of these accusations and is taking forceful legal action. PSKY and its named Board members will respond in the proceedings to the frivolous and baseless claims against PSKY and its named Board members and stockholders. Consistent with Mr. Shell's commitment to prioritizing PSKY's success, he has elected to transition from his positions as President of PSKY and a member of PSKY's Board of Directors to focus on this lawsuit. PSKY is grateful for Mr. Shell's many contributions and to have relied on him as a valued advisor."About Paramount, a Skydance Corporation Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment. For more information, please visit www.paramount.com.



View original content:https://www.prnewswire.com/news-releases/paramount-issues-statement-on-jeff-shell-302737260.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT ISSUES STATEMENT ON JEFF SHELL

$PSKY - Key Drivers

Merger Momentum: Official mailing of definitive proxy to WBD shareholders solidifies April 23rd meeting for final merger vote.

Strategic Hire: Promotion of Allie McLarty to Senior Vice President of Global Communications.

Heavy Institutional Backing: New positions for institutional players MTCO Ltd. (approx. $26.5M) and New York State Teachers Retirement System (approx. $7M).

Valuation "Buy" Signals: Ttrading significantly below estimated fair value of $14.57.

Cost-Cutting Targets: Updated efficiency targets of $3 billion in annual savings and $1 billion within 2026.

JUST LOOKING AT THE MATH AND MECHANICS. NO EXPERTISE. NO RECOMMENDATIONS OR ADVICE.

BET LAUNCHES THE CREATOR STUDIO WITH "THE JASON LEE SHOW" TO PREMIERE APRIL 8 AS FLAGSHIP SERIES FROM NEW DIGITAL-FIRST PLATFORMMarch 30, 2026 1:00 PM
PR Newswire (US)

NEW YORK , March 30, 2026 /PRNewswire/ -- BET today announced the launch of the BET Creator Studio, a dedicated space where culture-forward creators come to amplify their content with the power of the BET brand behind them. THE JASON LEE SHOW will serve as the marquee series, set to launch Wednesday, April 8 at 8:01 AM ET/7:01 AM CT, on BET.com and BET's official YouTube channel.







Media entrepreneur Jason Lee joined forces with BET to be the marquee series for the Studio launch. With new episodes dropping every Wednesday, THE JASON LEE SHOW combines access to Lee's day-to-day life with sit-down conversations alongside his celebrity guests. Each episode pulls back the curtain on the untold stories shaping today's public narratives and the people driving culture forward. The series expands Lee's growing digital storytelling slate, giving audiences direct access to the pace, pressure, and strategy behind building influence in multiple arenas simultaneously."I've been in rooms most people will never get into and now I'm bringing audiences with me," said Jason Lee. "This show isn't just about entertainment. It's about the power of culture: how it's built, how it's kept, and how it's used. BET gives us the platform to tell that story at the scale it deserves."The BET Creator Studio serves as a creative engine for Black voices – pairing emerging and established talent with the infrastructure, resources, and distribution power of BET. From podcasts and digital series to short-form content and social-first campaigns, the Studio is designed to meet audiences where they are while shaping the future of Black storytelling."Black creators have always driven culture, now we're giving them the infrastructure to own it," said Orchid Richardson, SVP of digital & social at BET. "The BET Creator Studio is where authentic storytelling meets serious distribution, and that combination is incredibly powerful."Creators interested in joining the Studio can learn more and apply by emailing betcreatorstudio@bet.net.About BET Media Group
The BET Media Group, a unit of Paramount, a Skydance Corporation (NASDAQ: PSKY), is the world's largest media company rooted in community, culture and connection for the Black community. For over four decades, BET has served as a trusted home for Black audiences, amplifying authentic stories, elevating Black voices and creating spaces where culture thrives and community comes together.Through a powerful portfolio of brands including BET, BET+, BET Gospel, BET HER, BET Jams, BET Soul, BET Studios and VH1, BET connects audiences across cable, streaming, digital, live events, studios and global platforms, delivering culturally resonant content that reflects the depth, creativity and impact of the Black experience. For more information about BET, visit www.bet.com and follow @BET on social platforms. For more BET announcements, visit paramountpressexpress.com/bet/.About Jason Lee
Jason Lee, CEO is a multimedia powerhouse, self-made entrepreneur, philanthropist, author, pop culture critic and founder of Hollywood Unlocked - a multi-million dollar Black-owned media empire and one of the leading voices in entertainment.Lee has also powered the Hollywood Unlocked Impact Awards, recognizing icons who have made a lasting impact on the culture, attended by prominent figures such as Vice President Kamala Harris, Whoopi Goldberg, Mariah Carey, Floyd Mayweather, Christian Louboutin, Sharon Stone, Jasmine Crockett and more.Lee also currently serves as Vice Mayor of Stockton, bringing firsthand experience with poverty, access gaps, and public scrutiny into government leadership where he's worked with GRAMMY award winning artist Burna Boy to uplift the city and most recently helped secure a $12.4 million dollar grant for the Hollywood Cares Foundation to benefit local youth.



View original content to download multimedia:https://www.prnewswire.com/news-releases/bet-launches-the-creator-studio-with-the-jason-lee-show-to-premiere-april-8-as-flagship-series-from-new-digital-first-platform-302728362.htmlSOURCE BET

Original: BET LAUNCHES THE CREATOR STUDIO WITH "THE JASON LEE SHOW" TO PREMIERE APRIL 8 AS FLAGSHIP SERIES FROM NEW DIGITAL-FIRST PLATFORM

Warner Bros. Discovery Sets Shareholder Meeting Date of April 23, 2026 to Approve Transaction with Paramount SkydanceMarch 26, 2026 9:10 AM
PR Newswire (US)

WBD Shareholders Have Opportunity to Vote on All-Cash Transaction with Clear Path to CloseBoard Unanimously Recommends Shareholders Vote FOR Paramount MergerNEW YORK, March 26, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("WBD" or "Warner Bros. Discovery") (NASDAQ: WBD) today announced that it will hold the Special Meeting of Shareholders (the "Special Meeting") to vote on the merger with Paramount Skydance Corporation ("Paramount") (NASDAQ: PSKY) on April 23, 2026 at 10:00 a.m. Eastern Time. It also announced that it has commenced mailing of the definitive proxy statement to shareholders in connection with the Special Meeting. WBD shareholders of record as of 5:00 p.m. Eastern Time on March 20, 2026 will be entitled to vote at the Special Meeting. Under the terms of the merger agreement with Paramount, WBD shareholders will receive $31.00 per share in cash for each share of WBD common stock they own, which represents a 147% premium to WBD's unaffected stock price of $12.54i per share. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances and approval by WBD shareholders. In the event the transaction has not closed by September 30, 2026, WBD shareholders will receive a $0.25 per share "ticking fee" for each quarter (measured daily) until closing."The WBD Board has been guided by the singular principle of securing a transaction that maximizes the value of our iconic assets and delivers as much certainty as possible to our shareholders," said Samuel A. Di Piazza, Jr., Chair of the Warner Bros. Discovery Board of Directors. "This historic transaction with Paramount not only does that, but it will also expand consumer choice and develop new opportunities for creative talent."David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery added, "We look forward to the upcoming Special Meeting. This transaction is the culmination of the Board's robust process to unlock the full value of our world-class portfolio. I want to thank our talented team for transforming the business over the last several years. We are working closely with Paramount to close the transaction and deliver its benefits to all stakeholders."The WBD Board unanimously recommends shareholders vote FOR the Paramount merger.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com. Important Information about the Transaction and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Paramount (the "proposed transaction").  In connection with the proposed transaction, WBD filed a definitive proxy statement (the "Proxy Statement") with the SEC. The Proxy Statement was first mailed to WBD stockholders on or around March 26, 2026.  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.  Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about WBD and Paramount, without charge, at the SEC's website, https://www.sec.gov.  Free copies of the Proxy Statement and each company's other filings with the SEC may also be obtained from the respective companies.  Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com.  Free copies of documents filed with the SEC by Paramount will be made available on Paramount's investor relations website at https://ir.paramount.com. Participants in the Solicitation
WBD and Paramount and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K filed with the SEC on February 27, 2026, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors."  Information about the directors and executive officers of Paramount is set forth in its Current Reports on Form 8-K filed with the SEC on August 7, 2025, September 16, 2025 and January 14, 2026, and in its Annual Report on Form 10-K filed with the SEC on February 25, 2026. Investors may obtain additional information regarding the interests of such participants by reading the Proxy Statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking Statements
Information set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Paramount, constitute forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Paramount and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) risks related to litigation brought in connection with the proposed transaction; (7) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (8) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (9) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (10) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (11) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections; (12) the ability to obtain or consummate financing or refinancing related to the proposed transaction; and (13) the response of WBD or Paramount management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Paramount's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. Neither WBD nor Paramount is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this communication are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.iUnaffected stock price defined as closing price on 9/10/25. 



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-sets-shareholder-meeting-date-of-april-23-2026-to-approve-transaction-with-paramount-skydance-302726244.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Sets Shareholder Meeting Date of April 23, 2026 to Approve Transaction with Paramount Skydance

Paramount-Warner Deal Seen Clearing FCC Review; Netflix Warns of Job Cuts – FTMarch 3, 2026 9:30 AM
IH Market News
Paramount’s (NASDAQ:PSKY) proposed $110 billion acquisition of Warner Bros Discovery (NASDAQ:WBD) is expected to secure approval from the U.S. Federal Communications Commission, according to a Financial Times report on Monday that cited comments from FCC Chair Brendan Carr.Speaking to the FT at the Mobile World Congress in Barcelona, Carr said U.S. regulators had previously raised concerns about Warner’s earlier agreement with Netflix (NASDAQ:NFLX), but added that the competitive implications of a merger with Paramount were “drastically different.”Paramount became the sole remaining suitor for Warner after Netflix opted not to match an enhanced $31-per-share bid for the entertainment group.Carr told the FT that the majority of the regulatory review will be handled by the Department of Justice, with the FCC’s involvement limited primarily to assessing the transaction’s financial structure.Paramount’s bid is backed by $47 billion in equity financing, alongside investment from a consortium of Middle Eastern sovereign wealth funds.“All the information that I’ve seen about that foreign debt?.?.?.?is that would qualify under FCC rules as what we call bona fide debt, meaning, it would be a very quick, almost pro forma review,” Carr told the FT.Despite expectations of regulatory clearance, lawmakers from both political parties have voiced concerns about the deal’s competitive impact, particularly in the streaming sector, where consolidation could narrow consumer choice.Separately, Netflix co-CEO Greg Peters cautioned in an interview with the Financial Times that the takeover could result in “severe” job losses across Hollywood.“A bunch of people are going to lose their jobs,” Peters told the FT, just days after Netflix decided against matching Paramount’s improved offer for Warner.“They’re bidding and winning these deals at prices that I can’t make sense of, that don’t seem economic,” Peters told the FT.Paramount Skydance stock priceWarner Brothers Discovery stock priceNetflix stock price

Original: Paramount-Warner Deal Seen Clearing FCC Review; Netflix Warns of Job Cuts – FT

Paramount forecasts $69B revenue in FY2026 following Warner Bros. Discovery mergerMarch 2, 2026 11:21 AM
IH Market News
Paramount (NASDAQ:PSKY) said it expects the combined company formed through its merger with Warner Bros. Discovery (NASDAQ:WBD) to generate approximately $69 billion in pro forma revenue for fiscal year 2026.According to projections released Monday, the merged media group is targeting adjusted EBITDA of about $18 billion and anticipates realizing roughly $6 billion in synergies as integration progresses.Looking further ahead, the company forecasts revenue growth at a mid-single-digit compound annual rate between 2026 and 2030.Management also expects adjusted EBITDA margins to reach the mid-20% range by 2030, while free cash flow conversion is projected to average around 50% over the same period.Paramount Skydance stock priceWarner Brothers Discovery stock price

Original: Paramount forecasts $69B revenue in FY2026 following Warner Bros. Discovery merger

PARAMOUNT TO ACQUIRE WARNER BROS. DISCOVERY TO FORM NEXT-GENERATION GLOBAL MEDIA AND ENTERTAINMENT COMPANYFebruary 27, 2026 4:27 PM
PR Newswire (US)

The newly merged company will be well positioned to compete in the rapidly evolving entertainment industry where storytelling combined with world class technology expertise will be an important driver of value creation across the ecosystem and for shareholdersInvesting in the world-class studios of Paramount and WBD, focusing on attracting and retaining the industry's leading creative talent while expanding the supply of high-quality content for both the combined company's platforms and third-party distribution platformsDriving long-term growth by investing in and expanding our DTC business, powered by our combined world-class storytelling to reach more audiences and compete effectively with leading streaming servicesCommitted to producing a minimum of 30 theatrical films annually, delivering exceptional entertainment to audiences and driving long-term job growth across the film and creative industriesParamount issuing $47 billion of new Class B shares at $16.02 per share, supported by a fully committed investment from the Ellison Family and RedBird Capital PartnersTransaction values WBD at enterprise value of $110 billion, representing a multiple of 7.5x on fully synergized 2026 EBITDALOS ANGELES and NEW YORK, Feb. 27, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") and Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") today announced they have entered into a definitive merger agreement under which Paramount will acquire WBD, forming a premier global media and entertainment company focused on expanding consumer choice and empowering creative talent worldwide.Under the terms of the agreement, Paramount will pay $31.00 per share in cash for all outstanding shares of WBD. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances and approval by WBD shareholders, with a vote expected in the early spring of 2026. In the event the transaction has not closed by September 30, 2026, WBD shareholders will receive a $0.25 per share "ticking fee" for each quarter (measured daily) until closing.The merger unlocks innovative and compelling storytelling opportunities across the combined company's best-in-class film and television studios, streaming and linear platforms. Together, Paramount and WBD will deliver greater choice for consumers through its leading streaming platforms with an exceptional intellectual property portfolio that has produced popular franchises such as Game of Thrones, Mission Impossible, Harry Potter, Top Gun, the DC Universe and SpongeBob SquarePants.    David Ellison, Chairman and CEO of Paramount, a Skydance Corporation, said: "From the very beginning, our pursuit of Warner Bros. Discovery has been guided by a clear purpose: to honor the legacy of two iconic companies while accelerating our vision of building a next-generation media and entertainment company. By bringing together these world-class studios, our complementary streaming platforms, and the extraordinary talent behind them, we will create even greater value for audiences, partners and shareholders — and we couldn't be more excited for what's ahead."David Zaslav, President and CEO of Warner Bros. Discovery said: "I'm very pleased with the outcome we achieved for WBD shareholders and the entertainment industry. Our guiding principle throughout this process has been to secure a transaction that maximizes the value of our iconic assets and our century-old studio while delivering as much certainty as possible for our investors. We look forward to working with Paramount to complete this historic transaction."Strategic and Financial Benefits of a Paramount-Warner Bros. Discovery MergerHollywood Champion: We will invest in expanding the creative engines at the core of both WBD and Paramount. We will maintain both studios while prioritizing the attraction and retention of world-class creative talent, strengthening our ability to deliver a broad pipeline of high-quality content, including 15 theatrical feature films per year per studio, for our combined platforms and third-party distribution partners.Establishes a Global Streaming Competitor: By uniting the strengths of Paramount and WBD, we will create a premier direct-to-consumer platform with enhanced reach, engagement, and monetization capabilities – positioning the combined company to increase competition while accelerating subscriber growth, deepening engagement, and driving significant long-term profitability.Pro-Competition: The combination of Paramount+, HBO Max and Pluto creates a highly competitive DTC business that expands both consumer choice and opportunities for creative talent and labor. The deal will deliver compelling value for both content suppliers and consumers – establishing another strong, credible competitor in today's streaming marketplace.Transaction Supports a Competitive Theatrical and Content Distribution Ecosystem: Every film will receive a full theatrical release, with a minimum 45-day window globally before becoming available on paid video-on-demand (VOD), with the intention of 60-90 days or more to maximize the audience for our most successful releases.Both studios will continue to support a vibrant third-party ecosystem by licensing their films and shows across their own and third-party platforms, while remaining active buyers of content from third-party studios and independent producers.Following its theatrical run, each film will transition to the current industry standard home video window, preserving paid video-on-demand prior to availability on subscription streaming services.Paramount will continue to adhere to specific windowing regimes in geographies it operates in, including in France where Paramount maintains its windowing commitments.A Compelling Portfolio of IP and Content: The combined company will own a film library of more than 15,000 titles and thousands of hours of television programming. It will be home to many of the world's most iconic and enduring franchises, including Harry Potter, Mission Impossible, Lord of the Rings, Game of Thrones, the DC Universe, Teenage Mutant Ninja Turtles, Transformers, Star Trek and SpongeBob SquarePants.Broad Sports Rights Portfolio: The merged company will hold one of the industry's most compelling and competitive portfolios of sports rights, including: the NFL, Olympics, UFC, PGA Tour, NHL, Big Ten and Big 12 Football, NCAA College Basketball, and Champions League, with the ability to distribute these rights collectively across all of our platforms, thereby giving sports fans easier access to more of the content they want in one place.Stronger Linear Networks: A complementary portfolio of cable networks spanning entertainment, sports and news will significantly improve cash flow, unlock efficiencies, and strengthen our ability to manage linear market pressures. It also creates a more compelling, unified platform for advertisers through integrated cross-channel sales and activation opportunities.Diverse International Portfolio: A presence in over 200 countries and territories, including cable and free-to-air networks, that will provide more opportunities for world class storytelling – including local production – to be seen globally and allow us to continue to serve local audiences around the world with the best stories across TV, film, sports, and news.Technology to Create Stronger Infrastructure Backbone and Improved User Interface: By streamlining the technological underpinning of every aspect of the combined company's businesses, we will improve the user experience, generate financial and operating efficiencies and eliminate redundancies.Well-Positioned to Invest in Growth: The pro forma balance sheet and cash flow will enable continued investment in growth initiatives, as demonstrated by the marquee deals announced by Paramount since the close of the Skydance merger, including: Trey Parker and Matt Stone of South Park, the UFC, the Duffer Brothers and Activision, among others. The combined company's resources and backing of Paramount's committed investors will support increased investment in content generation, reinvigorating the media industry and enhancing competition to the benefit of talent and labor.Transaction Highlights
Paramount will acquire 100% of WBD for $31 per share in cash, plus the "ticking fee", valuing WBD at $81 billion in equity value and $110 billion in enterprise value. Paramount expects that the acquisition will yield over $6 billion in synergies, which are driven by a combination of: technology integration (such as migrating the combined company to a single enterprise resource planning system and consolidating streaming technology stacks), corporate-wide efficiencies, including procurement savings, optimizing the combined real estate footprint, and otherwise streamlining operational efficiencies.On a fully synergized basis, this values WBD at 7.5x 2026 EBITDA. At closing, we expect to have a net debt-to-EBITDA of 4.3x on a synergized basis, with a clear path to investment grade credit metrics within three years of closing. The transaction is funded by $47 billion in equity, fully backed by the Ellison Family and RedBird Capital Partners. At closing, the equity may include other strategic and financial partners. Under the terms of the equity commitments, new shares of Class B Paramount stock will be issued at a price of $16.02 per share. The terms of this equity investment were decided by a Special Committee of the Board of Directors of Paramount comprised of independent directors with independent legal and financial advisors. In addition to the new cash equity investment, the transaction is backed by $54 billion of debt commitments from Bank of America, Citigroup, and Apollo, which includes $15 billion to backstop WBD's existing bridge facility and $39 billion of incremental new debt. The $54 billion excludes $3.5 billion of bridge financing from these institutions to backstop our existing $3.5 billion revolving credit facility. In addition, existing Paramount stockholders will have the opportunity to participate in a rights offering of up to $3.25 billion of Class B Paramount stock alongside the new equity investment, which is expected to occur nearer the closing date, at a price of $16.02 per share. The proposed transaction between Paramount and WBD is not subject to any financing conditions.In connection with the entry into the merger agreement, Paramount has terminated its all-cash tender offer to acquire all outstanding shares of WBD.Centerview Partners LLC and RedBird Advisors are acting as lead financial advisors to Paramount, and Bank of America Securities, Citi, M. Klein & Company and LionTree Advisors are also acting as financial advisors. Cravath, Swaine & Moore LLP and Latham & Watkins LLP are acting as legal counsel to Paramount. Latham & Watkins LLP is also acting as legal counsel to the investor consortium, including the Ellison Family.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to WBD and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.Barclays Capital are acting as financial advisors to the Special Committee of the Board of Directors of Paramount and Cleary, Gottlieb, Steen & Hamilton LLP are serving as legal counsel.Conference Call and Webcast
Paramount will conduct a conference call and webcast on Monday, March 2 at 8:30am ET to discuss its merger agreement with WBD. The webcast link and dial-in information will be made available on Paramount's Investor Relations homepage at ir.paramount.com prior to the call. An audio replay of the call will be available in the Events and Webcasts section of Paramount's Investors homepage.About Paramount, a Skydance Corporation 
Paramount, a Skydance Corporation is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. Paramount's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Paramount TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information, visit paramount.com.About Warner Bros. Discovery
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Additional Information and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed acquisition of Warner Bros. Discovery, Inc. ("WBD") by Paramount Skydance Corporation ("Paramount"). In connection with the proposed transaction, WBD intends to file relevant materials with the Securities and Exchange Commission (the "SEC"), including WBD's proxy statement in preliminary and definitive form. INVESTORS AND STOCKHOLDERS OF WBD ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING WBD'S PROXY STATEMENT (WHEN IT IS AVAILABLE), BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND THE PARTIES TO THE PROPOSED TRANSACTION. Investors and stockholders of WBD are or will be able to obtain these documents (when they are available) free of charge from the SEC's website at www.sec.gov, or free of charge from WBD under the "SEC Filings" section of WBD's website at https://ir.wbd.com.Participants in the Solicitation
Paramount and WBD and certain of their respective directors and executive officers, under SEC rules, may be deemed to be "participants" in the solicitation of proxies from security holders of WBD in connection with the proposed transaction. Information about the directors and executive officers of Paramount is set forth in its Current Reports on Form 8-K filed with the SEC on August 7, 2025, September 16, 2025 and January 14, 2026 and in its Annual Report on Form 10-K filed with the SEC on February 25, 2026. Information about WBD's directors and executive officers is available in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors." To the extent holdings of WBD's securities by its directors or executive officers has changed since the amounts set forth in such 2025 proxy statement, such changes have been or will be reflected on Initial Statements of Beneficial Ownership of Securities on Form 3 or Statements of Changes of Beneficial Ownership of Securities on Form 4 filed with the SEC. Investors and stockholders of Paramount or WBD are or will be able to obtain these documents free of charge from the SEC's website at www.sec.gov, from Paramount on Paramount's website at https://ir.paramount.com/sec-filings/paramount, from WBD on WBD's website at https://ir.wbd.com or on request from Paramount or WBD, as applicable.  Additional information concerning the interests of WBD's participants in the solicitation, which may, in some cases, be different than those of WBD's stockholders generally, will be set forth in WBD's proxy statement relating to the proposed transaction when it becomes available.Cautionary Note Concerning Forward-Looking Statements
This communication contains "forward-looking statements" regarding the potential acquisition of WBD. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount or WBD. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the acquisition will not be satisfied, including the risk that clearances under the Hart-Scott-Rodino Antitrust Improvements Act or other applicable antitrust laws will not be obtained; uncertainty as to the percentage of WBD stockholders that will vote to approve the proposed transaction at the applicable WBD stockholder meeting; the possibility that the transaction will not be completed in the expected timeframe or at all; potential adverse effects to the businesses of Paramount or WBD during the pendency of the transaction, such as employee departures or distraction of management from business operations; the risk of stockholder litigation relating to the transaction, including resulting expense or delay; the potential that the expected benefits and opportunities of the acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to Paramount's streaming business; the adverse impact on Paramount's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to Paramount's decisions to invest in new businesses, products, services and technologies, and the evolution of Paramount's business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of Paramount's content; damage to Paramount's reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining Paramount's intellectual property rights; domestic and global political, economic and regulatory factors affecting Paramount's businesses generally; the inability to hire or retain key employees or secure creative talent; disruptions to Paramount's operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global and Skydance Media, LLC successfully and to achieve anticipated synergies; litigation relating to the transactions contemplated by the transaction agreement entered into on July 7, 2024, between Paramount Global and Skydance Media, LLC, potentially resulting in substantial costs; volatility in the price of Paramount's Class B common stock; the effect Paramount's dual-class capital structure and the concentrated ownership may have on the price of its Class B common stock or business; risks related to a private sale of a controlling interest in Paramount, including that Paramount's stockholders may not realize any change of control premium on shares of Paramount's Class B common stock and that Paramount may become subject to the control of a presently unknown third party; risks associated with Paramount's status as a "controlled company" under Nasdaq rules, including its exemption from certain corporate governance requirements; risks associated with the lack of voting rights of Paramount's Class B common stock; risks that anti-takeover provisions in Paramount's amended and restated certificate of incorporation ("Charter") and amended and restated bylaws, and under Delaware law, could deter, delay, or prevent a change of control; risks that exclusive forum provisions in Paramount's Charter could limit a stockholder's choice of forum for certain claims and discourage lawsuits against Paramount's directors and officers; risks that corporate opportunity provisions in Paramount's Charter could permit certain persons to pursue competitive opportunities that might otherwise be available to Paramount; and risks associated with Paramount's holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned "Cautionary Note Concerning Forward-Looking Statements" and "Item 1A. Risk Factors," and Paramount's subsequent filings with the SEC, and WBD's Annual Report on Form 10-K for the fiscal year ended December 31, 2024, filed with the SEC on February 27, 2025, including in the section captioned "Item 1A. Risk Factors" and in WBD's most recently filed Quarterly Report on Form 10-Q and WBD's subsequent filings with the SEC. Copies of these filings, as well as subsequent filings, are available online at www.sec.gov, https://ir.paramount.com/sec-filings/paramount, https://ir.wbd.com or on request from Paramount or WBD. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.Paramount
Media Contacts: 
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.comBrunswick Group
ParamountSkydance@brunswickgroup.comGagnier Communications
Dan Gagnier
dg@gagnierfc.comInvestor Contacts:
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas@paramount.comWarner Bros. Discovery
Media Contact:
Robert Gibbs
Robert.gibbs@wbd.comInvestor Contact:
Peter Lee
Peter.lee@wbd.com



View original content:https://www.prnewswire.com/news-releases/paramount-to-acquire-warner-bros-discovery-to-form-next-generation-global-media-and-entertainment-company-302699998.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT TO ACQUIRE WARNER BROS. DISCOVERY TO FORM NEXT-GENERATION GLOBAL MEDIA AND ENTERTAINMENT COMPANY

Netflix jumps after opting not to match Paramount Skydance’s bid for Warner BrosFebruary 27, 2026 6:20 AM
IH Market News
Netflix Inc (NASDAQ:NFLX) said Thursday it will not increase its offer for Warner Bros Discovery Inc (NASDAQ:WBD) after Warner Bros concluded that a revised proposal from Paramount Skydance Corp (NASDAQ:PSKY) represents a superior offer under the terms of its existing merger agreement with the streaming group.Netflix shares climbed nearly 7% in premarket trading on Friday, while Paramount surged about 10% and Warner Bros declined roughly 2%.In a joint statement, Netflix co-CEOs Ted Sarandos and Greg Peters said the agreement they had negotiated offered clear shareholder value and a defined regulatory pathway, but matching Paramount Skydance’s higher proposal would no longer make financial sense.“We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,” Sarandos and Peters said.Warner Bros. Discovery’s board reached its conclusion after consulting independent financial and legal advisers. Earlier this week, the company disclosed that Paramount Skydance’s offer values WBD at $31.00 per share in cash, alongside a daily ticking fee equivalent to $0.25 per share per quarter beginning after September 30, 2026.The proposal also includes a $7 billion regulatory termination fee payable by PSKY if the transaction fails due to regulatory issues. Paramount Skydance would additionally cover the $2.8 billion termination fee owed by WBD to Netflix under the existing merger agreement.Larry J. Ellison and an affiliated trust are committed to providing additional equity financing if required to support the solvency certification demanded by PSKY’s lenders. The bid also defines a company material adverse effect clause that excludes performance from WBD’s Global Linear Networks division.Following the announcement, brokerage Raymond James downgraded Warner Bros to Underperform.“Netflix declined to raise its offer, thus effectively ending the bidding war for WBD,” analysts led by Ric Prentiss said in a note. “Since we do not anticipate any more topping bids, WBD now becomes a more traditional “arb spread” stock, and we see more attractive potential returns elsewhere in our coverage universe.”Separately, analysts at Wolfe Research led by Peter Supino said that “if Netflix raised its bid, it risked being perceived as desperate, and it could have taken years to wash that perception away.”“WBD was more a nice to have than need to have for Netflix, and Netflix declining to raise its bid only a few hours into its 4 business day review period is a signal of Netflix’s confidence in its stand-alone prospects,” he continued.Netflix also thanked Warner Bros. Discovery CEO David Zaslav, CFO Gunnar Wiedenfels, Bruce Campbell, Brad Singer and the WBD board for conducting what it described as a fair and thorough process. The company said it believed it would have been a strong steward of Warner Bros.’ brands and that the transaction could have strengthened the entertainment industry while supporting production jobs in the United States.The streaming company reiterated that the deal was always a nice to have at the right price rather than a must have at any price. Netflix added that its core business remains healthy, resilient and growing organically, supported by its content slate and streaming platform. The company plans to invest about $20 billion in films and series this year, expand its offering, and restart its share buyback programme.Netflix stock priceWarner Brothers Discovery stock priceParamount Skydance stock price

Original: Netflix jumps after opting not to match Paramount Skydance’s bid for Warner Bros

Paramount Poised to Win Warner Deal as Block Jumps — Key Market Movers: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 27, 2026 5:21 AM
IH Market News
U.S. stock index futures moved slightly lower on Friday as investors weighed fresh earnings from major technology companies and reassessed sentiment around artificial intelligence-driven trades. Paramount Skydance (NASDAQ:PSKY) appears set to prevail in the takeover contest for Warner Bros. Discovery (NASDAQ:WBD) after Netflix (NASDAQ:NFLX) withdrew its competing offer, while AI firm Anthropic entered a dispute with the Pentagon. Meanwhile, Jack Dorsey’s Block (NYSE:XYZ) surged after announcing large-scale job cuts, and oil prices edged higher.



Futures drift lower



U.S. equity futures pointed to a softer finish to the week as markets digested a wave of influential technology earnings.As of 02:59 ET (07:59 GMT), Dow futures were down 205 points, or 0.4%, S&P 500 futures slipped 13 points, or 0.2%, and Nasdaq 100 futures traded broadly flat.Wall Street closed mixed on Thursday, with investors focused on results from artificial intelligence heavyweight Nvidia (NASDAQ:NVDA) and cloud software provider Salesforce (NYSE:CRM).Although Nvidia delivered quarterly earnings above expectations, investors remained cautious amid growing competition, questions about the durability of strong demand, and uncertainty over when meaningful returns will materialize. Shares of Nvidia — a major index component — fell more than 5%.Salesforce shares advanced despite issuing a weaker-than-anticipated annual revenue outlook. Analysts at Vital Knowledge described the results as “no worse than feared.”The session also saw what analysts called a “violent rotation” within technology stocks, as capital shifted away from hardware-oriented names such as semiconductors and data center infrastructure toward software and data-focused companies.According to analysts, “small red flags” from Nvidia alongside relief over results from Salesforce and peer Workday — combined with comments earlier this week from AI startup Anthropic about aiming to “compliment and augment, not kill” software companies — helped fuel the rotation.



Paramount leads Warner bidding battle



Paramount Skydance has emerged as the likely victor in the prolonged takeover struggle for Warner Bros. Discovery after Netflix unexpectedly stepped away from negotiations.Netflix executives — whose shares rose in after-hours trading following the announcement — said the deal was “always a ’nice to have’ at the right price,” but “not a ’must have’ at any price.” While Netflix has the financial capacity to pursue acquisitions, some investors had questioned the strategic logic of buying a traditional media company.Warner Bros.’ board determined Paramount’s $31-per-share all-cash proposal represented a superior offer, prompting Netflix to reconsider its position. After receiving four days to respond, Netflix opted not to match the bid and abandoned its $27.75-per-share proposal covering Warner Bros.’ studios and HBO Max.The development positions Paramount — controlled by David Ellison, son of technology billionaire Larry Ellison — to build a larger entertainment group incorporating franchises such as “Harry Potter” and “Game of Thrones.” If approved by regulators, the transaction would also give Paramount control of cable networks including CNN and TBS.Warner Bros. CEO David Zaslav said a Paramount transaction would “create tremendous value for our shareholders.” Paramount shares rose in extended trading, while Warner Bros. stock declined.



Anthropic clashes with Pentagon



Artificial intelligence company Anthropic said it would refuse Pentagon demands to remove safeguards embedded in its AI systems, creating tension between one of the sector’s leading startups and the U.S. government.The dispute centers on a Pentagon request to eliminate protections that prevent the technology from being used for domestic surveillance or autonomous weapons applications.The Defense Department has warned it could terminate its partnership with Anthropic and classify the firm as a “supply chain risk” if the company does not comply. Defense Secretary Pete Hegseth reportedly set a Friday deadline for Anthropic to allow the technology’s use in all lawful scenarios.Anthropic CEO Dario Amodei said he could not agree “in good conscience,” arguing that the military’s request would effectively dismantle the system’s safety guardrails.



Block shares surge



Shares of Block jumped more than 23% in after-hours trading after the payments firm announced plans to cut nearly half of its workforce as part of a strategy to integrate artificial intelligence more deeply across its operations.The reductions — expected to eliminate more than 4,000 positions — come as companies increasingly reshape staffing structures around AI adoption, raising broader concerns about employment impacts despite productivity gains.Block CEO Jack Dorsey said that “ntelligence tools have changed what it means to build and run a company,” adding “[w]e’re already seeing it internally” and “[a] significantly smaller team using the tools can do more and do it better[.]”Although the company anticipates up to $500 million in restructuring costs, analysts cited by Reuters suggested the sharp share price rise reflects expectations that leaner staffing could improve profitability margins.



Oil edges higher after U.S.–Iran talks



Oil prices moved modestly higher but remained on track for weekly declines after the United States and Iran agreed to continue negotiations over Tehran’s nuclear program, easing fears of supply disruptions.Brent crude futures gained 0.7% to $71.29 per barrel, while U.S. West Texas Intermediate futures rose 0.8% to $65.74 per barrel.For the week, Brent prices were largely unchanged, while WTI was set to fall roughly 1%, reversing part of the prior week’s advance.Talks between Washington and Tehran ended Thursday without a definitive agreement, but technical discussions are scheduled to resume next week in Vienna, Omani Foreign Minister Sayyid Badr Albusaidi said in a post on X following meetings in Geneva.Geopolitical tensions involving Iran have been a key driver of oil price movements throughout February, as the United States increased its military presence in the Middle East and warned of potential action if negotiations failed.Warner Brothers Discovery stock priceNetflix stock priceParamount Skydance stock priceBlock stock priceNvidia stock priceSalesforce stock price

Original: Paramount Poised to Win Warner Deal as Block Jumps — Key Market Movers: Dow Jones, S&P, Nasdaq, Wall Street Futures

Netflix Declines to Raise Offer for Warner Bros.February 26, 2026 5:45 PM
PR Newswire (US)

HOLLYWOOD, Calif., Feb. 26, 2026 /PRNewswire/ -- Netflix, Inc. today announced that it has declined to raise its offer for Warner Bros. Netflix had earlier received notice from Warner Bros. Discovery (WBD) that its Board of Directors has determined Paramount Skydance's (PSKY) latest proposal constitutes a "Superior Proposal" under the terms of WBD's existing merger agreement with Netflix. Netflix issued the following statement in response from co-CEOs Ted Sarandos and Greg Peters:







The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.Warner Bros. is a world-class organization, and we want to thank David Zaslav, Gunnar Wiedenfels, Bruce Campbell, Brad Singer and the WBD Board for running a fair and rigorous process. We believe we would have been strong stewards of Warner Bros.' iconic brands, and that our deal would have strengthened the entertainment industry and preserved and created more production jobs in the U.S.  But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price.Netflix's business is healthy, strong and growing organically, powered by our slate and best-in-class streaming service. This year, we'll invest approximately $20 billion in quality films and series and will expand our entertaining offering. Consistent with our capital allocation policy, we'll also resume our share repurchase program.We will continue to do what we've done for more than 20 years as a public company: delight our members, profitably grow our business, and drive long-term shareholder value.About NetflixNetflix is one of the world's leading entertainment services offering TV series, films, games and live programming across a wide variety of genres and languages. Members can play, pause and resume watching as much as they want, anytime, anywhere, and can change their plans at any time.Important Information and Where to Find ItIn connection with the proposed transaction between Netflix and WBD, WBD filed a definitive proxy statement on Schedule 14A (the "Proxy Statement") with the U.S. Securities and Exchange Commission (the "SEC"). The Proxy Statement was first mailed to WBD stockholders on or around February 17, 2026. Each of Netflix and WBD may also file with or furnish to the SEC other relevant documents regarding the proposed transaction. This communication is not a substitute for the Proxy Statement or any other document that Netflix or WBD may file with the SEC or mail to WBD's stockholders in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS OF NETFLIX AND WBD ARE URGED TO READ THE PROXY STATEMENT, AS WELL AS ANY OTHER RELEVANT DOCUMENTS FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION OR INCORPORATED BY REFERENCE INTO THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO), BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION REGARDING NETFLIX, WBD, THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about Netflix and WBD, without charge, at the SEC's website, https://www.sec.gov. The documents filed by Netflix with the SEC also may be obtained free of charge at Netflix's website at https://ir.netflix.net/home/default.aspx. The documents filed by WBD with the SEC also may be obtained free of charge at WBD's website at https://ir.wbd.com.Participants in the SolicitationNetflix, WBD and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of WBD in connection with the proposed transaction under the rules of the SEC. Information about the interests of the directors and executive officers of WBD and other persons who may be deemed to be participants in the solicitation of stockholders of WBD in connection with the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, is included in the Proxy Statement, which has been filed by WBD with the SEC. Information about WBD's directors and executive officers is set forth in WBD's proxy statement for its 2025 Annual Meeting of Stockholders on Schedule 14A filed with the SEC on April 23, 2025, WBD's Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent filings with the SEC. Information about Netflix's directors and executive officers is set forth in Netflix's proxy statement for its 2025 Annual Meeting of Stockholders on Schedule 14A filed with the SEC on April 17, 2025, and any subsequent filings with the SEC. Additional information regarding the direct and indirect interests of those persons and other persons who may be deemed participants in the proposed transaction may be obtained by reading the Proxy Statement regarding the proposed transaction. Free copies of these documents may be obtained as described above.Cautionary Statement Regarding Forward-Looking StatementsThis document contains "forward-looking statements" within the meaning of the federal securities laws, including Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on Netflix's and WBD's current expectations, estimates and projections about the expected date of closing of the proposed transaction and the potential benefits thereof, their respective businesses and industries, management's beliefs and certain assumptions made by Netflix and WBD, all of which are subject to change. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "could," "seek," "see," "will," "may," "would," "might," "potentially," "estimate," "continue," "expect," "target," similar expressions or the negatives of these words or other comparable terminology that convey uncertainty of future events or outcomes. All forward-looking statements by their nature address matters that involve risks and uncertainties, many of which are beyond our control and are not guarantees of future results, such as statements about the consummation of the proposed transaction and the anticipated benefits thereof. These and other forward-looking statements, including the failure to consummate the proposed transaction or to make or take any filing or other action required to consummate the transaction on a timely matter or at all, are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Accordingly, there are or will be important factors that could cause actual results to differ materially from those indicated in such statements and, therefore, you should not place undue reliance on any such statements and caution must be exercised in relying on forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to: (i) the completion of the proposed transaction on anticipated terms and timing, including obtaining stockholder and regulatory approvals, completing the separation of WBD's Discovery Global business ("Discovery Global") and Warner Bros. business, anticipated tax treatment, unforeseen liabilities, future capital expenditures, revenues, expenses, earnings, synergies, economic performance, indebtedness, financial condition, losses, future prospects, business and management strategies, expansion and growth of WBD's and Netflix's businesses and other conditions to the completion of the proposed transaction; (ii) failure to realize the anticipated benefits of the proposed transaction, including as a result of delay in completing the transaction or integrating the businesses of Netflix and WBD; (iii) Netflix's and WBD's ability to implement their business strategies; (iv) consumer viewing trends; (v) potential litigation relating to the proposed transaction that could be instituted against Netflix, WBD or their respective directors; (vi) the risk that disruptions from the proposed transaction will harm Netflix's or WBD's business, including current plans and operations; (vii) the ability of Netflix or WBD to retain and hire key personnel; (viii) potential adverse reactions or changes to business relationships resulting from the announcement, pendency or completion of the proposed transaction; (ix) uncertainty as to the long-term value of Netflix's common stock; (x) legislative, regulatory and economic developments affecting Netflix's and WBD's businesses; (xi) general economic and market developments and conditions; (xii) the evolving legal, regulatory and tax regimes under which Netflix and WBD operate; (xiii) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Netflix's or WBD's financial performance; (xiv) restrictions during the pendency of the proposed transaction that may impact Netflix's or WBD's ability to pursue certain business opportunities or strategic transactions; (xv) failure to receive the approval of the stockholders of WBD; (xvi) the final allocation of indebtedness between WBD and Discovery Global in connection with the separation could cause a reduction to the consideration for the proposed transaction; (xvii) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; and (xviii) volatility or a decline in the market price for Discovery Global common stock following the separation. Discussions of additional risks and uncertainties are contained in Netflix's and WBD's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. While the list of factors presented here and in the Proxy Statement are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on Netflix's or WBD's consolidated financial condition, results of operations or liquidity. Neither Netflix nor WBD assumes any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by securities and other applicable laws.



View original content to download multimedia:https://www.prnewswire.com/news-releases/netflix-declines-to-raise-offer-for-warner-bros-302699059.htmlSOURCE Netflix, Inc.

Original: Netflix Declines to Raise Offer for Warner Bros.

PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY BOARD'S DETERMINATION OF PARAMOUNT'S PROPOSAL AS SUPERIORFebruary 26, 2026 4:35 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, Feb. 26, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") confirms that it has been notified by Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") that WBD's Board of Directors has determined that Paramount's $31 per share, all-cash proposal to acquire WBD is a "Company Superior Proposal" under the terms of WBD's merger agreement with Netflix, Inc. (NASDAQ: NFLX).David Ellison, Chairman and CEO of Paramount, said: "We are pleased WBD's Board has unanimously affirmed the superior value of our offer, which delivers to WBD shareholders superior value, certainty and speed to closing."Under the terms of Paramount's proposed merger agreement:Paramount will acquire WBD for $31.00 per WBD share in cash for 100% of the company;A daily "ticking fee" of $0.25 per quarter will accrue after September 30, 2026, until the consummation of the Paramount transaction;A regulatory termination fee of $7 billion would be payable in the event the transaction does not close due to regulatory matters;Paramount will pay the $2.8 billion termination fee which WBD is required to pay to Netflix to terminate its existing Netflix merger agreement;Paramount will eliminate WBD's potential $1.5 billion financing cost associated with its debt exchange offer;The "Company Material Adverse Effect" definition excludes the performance of WBD's Global Linear Networks business;The Ellison Trust is providing a $45.7 billion equity commitment, and Larry Ellison is guaranteeing such commitment, including an obligation to contribute additional equity funding to Paramount to the extent needed to support the solvency certificate required by Paramount's lending banks, andBank of America Merrill Lynch, Citi and Apollo are providing a $57.5 billion debt commitment.The entry into Paramount's proposed transaction requires the expiration of a four business day match period, termination of the Netflix merger agreement and execution of a definitive merger agreement between Paramount and WBD.As previously announced, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act applicable to Paramount's acquisition of WBD expired at 11:59 pm on February 19, 2026.Centerview Partners LLC and RedBird Advisors are acting as lead financial advisors to Paramount, and Bank of America Securities, Citi, M. Klein & Company and LionTree are also acting as financial advisors. Cravath, Swaine & Moore LLP and Latham & Watkins LLP are acting as legal counsel to Paramount.About Paramount, a Skydance CorporationParamount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information please visit www.paramount.com.Cautionary Note Regarding Forward-Looking Statements This communication contains both historical and forward-looking statements, including statements related to Paramount Skydance Corporation's ("Paramount") future financial results and performance, potential achievements, anticipated reporting segments and industry changes and developments. All statements that are not statements of historical fact are, or may be deemed to be, "forward-looking statements". Similarly, statements that describe Paramount's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect Paramount's current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause Paramount's actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others:  the outcome of the tender offer by Paramount and Prince Sub Inc. (the "Tender Offer") to purchase for cash all of the outstanding Series A common stock of Warner Bros. Discovery, Inc. ("WBD") or any discussions between Paramount and WBD with respect to a possible transaction (including, without limitation, by means of the Tender Offer, the "Potential Transaction"), including the possibility that the Tender Offer will not be successful, that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction will be materially different from those described herein; the conditions to the completion of the Potential Transaction or the previously announced transaction between WBD and Netflix, Inc. ("Netflix") pursuant to the Agreement and Plan of Merger, dated December 4, 2025, among Netflix, Nightingale Sub, Inc., WBD and New Topco 25, Inc. (the "Proposed Netflix Transaction"), including the receipt of any required stockholder and regulatory approvals for either transaction, the proposed financing for the Potential Transaction, the indebtedness Paramount expects to incur in connection with the Potential Transaction and the total indebtedness of the combined company; the possibility that Paramount may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate the operations of WBD with those of Paramount, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Potential Transaction; risks related to Paramount's streaming business; the adverse impact on Paramount's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries, including cost increases; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to Paramount's decisions to make investments in new businesses, products, services and technologies, and the evolution of Paramount's business strategy; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of Paramount's content; damage to Paramount's reputation or brands; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and content; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting Paramount's businesses generally, including tariffs and other changes in trade policies; the inability to hire or retain key employees or secure creative talent; disruptions to Paramount's operations as a result of labor disputes; the risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global and Skydance Media, LLC successfully and to achieve anticipated synergies; volatility in the prices of Paramount's Class B Common Stock; potential conflicts of interest arising from Paramount's ownership structure with a controlling stockholder; and other factors described in Paramount's news releases and filings with the Securities and Exchange Commission (the "SEC"), including but not limited to Paramount Global's most recent Annual Report on Form 10-K and Paramount's reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that Paramount does not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this report, and Paramount does not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.Additional Information This communication does not constitute an offer to buy or a solicitation of an offer to sell securities. This communication relates to a proposal that Paramount has made for an acquisition of WBD, the Tender Offer that Paramount, through Prince Sub Inc., its wholly owned subsidiary, has made to WBD stockholders, and Paramount's intention to solicit proxies against the Proposed Netflix Transaction and other proposals to be voted on by WBD stockholders at the special meeting of WBD stockholders to be held to approve the Proposed Netflix Transaction (the "Netflix Merger Solicitation") and/or for use at the WBD annual meeting of stockholders. The Tender Offer is being made pursuant to a tender offer statement on Schedule TO (including the offer to purchase, the letter of transmittal and other related offer documents), filed with the SEC on December 8, 2025. These materials, as may be amended from time to time, contain important information, including the terms and conditions of the offer. Subject to future developments, Paramount (and, if a negotiated transaction is agreed, WBD) may file additional documents with the SEC. This communication is not a substitute for any proxy statement, tender offer statement, or other document Paramount and/or WBD may file with the SEC in connection with the Potential Transaction.Paramount, Prince Sub Inc. and the other participants in the Netflix Merger Solicitation have filed a preliminary proxy statement and the accompanying BLUE proxy card with the SEC on January 22, 2026 in connection with the Netflix Merger Solicitation (the "Special Meeting Preliminary Proxy Statement"). Paramount expects to file a definitive proxy statement and the accompanying proxy card with the SEC in connection with the Netflix Merger Solicitation and may file other proxy solicitation materials in connection therewith or the annual meeting of WBD stockholders, or other documents with the SEC.PARAMOUNT STRONGLY ADVISES ALL STOCKHOLDERS OF WBD TO READ THE SPECIAL MEETING PRELIMINARY PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATED TO THE PARTICIPANTS. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, PARAMOUNT AND THE OTHER PARTICIPANTS IN SUCH PROXY SOLICITATIONS WILL PROVIDE COPIES OF THE APPLICABLE PROXY STATEMENTS WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR SUCH COPIES SHOULD BE DIRECTED TO THE APPLICABLE PROXY SOLICITOR. Participants in the SolicitationThe participants in the Netflix Merger Solicitation are expected to be Paramount, Prince Sub Inc., certain directors and executive officers of Paramount and Prince Sub Inc., Lawrence Ellison, RedBird Capital Management and The Lawrence J. Ellison Revocable Trust, u/a/d 1/22/88, as amended. Additional information about the participants in the Netflix Merger Solicitation is available in the Special Meeting Preliminary Proxy Statement.PSKY-IRMedia Contacts:
Paramount
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.comBrunswick Group
ParamountSkydance@brunswickgroup.comGagnier Communications
Dan Gagnier
dg@gagnierfc.comInvestor Contacts:
Paramount 
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas @teena
Toll-Free: (844) 343-2621
info@okapipartners.com 



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Original: PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY BOARD'S DETERMINATION OF PARAMOUNT'S PROPOSAL AS SUPERIOR

Warner Bros. Discovery Board of Directors Determines Revised Proposal from Paramount Skydance Constitutes a "Company Superior Proposal"February 26, 2026 4:15 PM
PR Newswire (US)

Revised PSKY Proposal Values WBD at Per Share Price of $31.00; Netflix Now Has a Four Business Day Match Period NEW YORK, Feb. 26, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("WBD") (NASDAQ: WBD) today announced that its Board of Directors (the "Board"), following consultation with its independent financial and legal advisors, has determined that the previously disclosed proposal from Paramount Skydance Corporation ("PSKY") (NASDAQ: PSKY) constitutes a "Company Superior Proposal" as defined in WBD's merger agreement with Netflix, Inc. ("Netflix") (NASDAQ: NFLX).As disclosed by WBD on February 24, 2026, PSKY's proposal includes a purchase price of $31.00 per WBD share in cash, plus a daily ticking fee equal to $0.25 per share per quarter beginning after September 30, 2026, as well as a $7 billion regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matters, payment by PSKY of the $2.8 billion termination fee that WBD would be required to pay to Netflix to terminate the existing Netflix merger agreement, an obligation of Larry J. Ellison and an associated trust to contribute additional equity funding to the extent needed to support the solvency certificate required by PSKY's lending banks, and a "Company Material Adverse Effect" definition that excludes the performance of WBD's Global Linear Networks segment.WBD has notified Netflix of its determination that the PSKY proposal constitutes a "Company Superior Proposal." Under the terms of the Netflix merger agreement, this notice triggers a four business day period during which Netflix has the right to propose revisions to the Netflix merger agreement so that the PSKY proposal would cease to constitute a "Company Superior Proposal." Following the conclusion of this period, if the Board determines in good faith, after consultation with its independent financial and legal advisors, that, after considering any revisions to the terms of the Netflix merger agreement proposed by Netflix, the PSKY proposal continues to constitute a "Company Superior Proposal," WBD would be entitled to terminate the Netflix merger agreement.The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction and has not withdrawn or modified its recommendation.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Important Information about the Tender Offer and Where to Find ItWBD has filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer (the "tender offer") by a subsidiary of PSKY with the Securities and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER. Investors and security holders may obtain free copies of the solicitation/recommendation statement as well as other filings by WBD, without charge, at the SEC's website, https://www.sec.gov. In addition, free copies of documents filed with the SEC by WBD will be made available free of charge on WBD's investor relations website at https://ir.wbd.com.Important Information about the Transaction and Where to Find ItThis communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Netflix (the "proposed transaction"). In connection with the proposed transaction, WBD filed a definitive proxy statement (the "Proxy Statement") with the SEC. The Proxy Statement was first mailed to WBD stockholders on or around February 17, 2026. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about WBD and Netflix, without charge, at the SEC's website, https://www.sec.gov. Free copies of the Proxy Statement and each company's other filings with the SEC may also be obtained from the respective companies. Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com. Free copies of documents filed with the SEC by Netflix will be made available on Netflix's investor relations website at https://ir.netflix.net.Participants in the SolicitationWBD and Netflix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors." Information about the directors and executive officers of Netflix is set forth in its definitive proxy statement filed with the SEC on April 17, 2025, under the headings "Our Board of Directors" and "Our Company Executive Officers." Investors may obtain additional information regarding the interests of such participants by reading the Proxy Statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking StatementsInformation set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Netflix, constitute forward-looking statements. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, statements about the tender offer and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Netflix and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) the final allocation of indebtedness between WBD and a newly formed subsidiary ("Discovery Global") in connection with the separation could cause a reduction to the consideration for the proposed transaction; (7) risks related to litigation brought in connection with the proposed transaction; (8) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (9) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (10) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (11) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (12) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; (13) the risk that Discovery Global, as a new company that currently has no credit rating, will not have access to the capital markets on acceptable terms; (14) the risk that Discovery Global may be unable to achieve some or all of the benefits that WBD expects Discovery Global to achieve as an independent, publicly-traded company; (15) the risk that Discovery Global may be more susceptible to market fluctuations and other adverse events than it would have otherwise been while still a part of WBD; (16) the risk that Discovery Global will incur significant indebtedness in connection with the separation, and the degree to which it will be leveraged following completion of the separation may materially and adversely affect its business, financial condition and results of operations; (17) the ability to obtain or consummate financing or refinancing related to the proposed transaction or the separation upon acceptable terms or at all; (18) volatility or a decline in the market price for Discovery Global common stock following the separation; (19) uncertainties as to how many WBD stockholders will tender their shares in the tender offer; (20) the conditions to the completion of the tender offer, including the receipt of any required stockholder and regulatory approvals; (21) PSKY's ability to finance the tender offer and the indebtedness PSKY expects to incur in connection with the tender offer; (22) the possibility that PSKY may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate WBD's operations with those of PSKY, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the tender offer; and (23) the response of WBD, Netflix or PSKY management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Netflix's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. Neither WBD nor Netflix is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-board-of-directors-determines-revised-proposal-from-paramount-skydance-constitutes-a-company-superior-proposal-302699009.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Board of Directors Determines Revised Proposal from Paramount Skydance Constitutes a "Company Superior Proposal"

PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY BOARD'S DETERMINATION THAT PARAMOUNT PROPOSAL COULD REASONABLY BE EXPECTED TO LEAD TO A SUPERIOR PROPOSALFebruary 24, 2026 8:27 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, Feb. 24, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") issued the following statement in response to the announcement by Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") that WBD's Board of Directors has determined that Paramount's revised $31 per share, all-cash offer to acquire WBD could reasonably be expected to lead to a "Company Superior Proposal" under the terms of WBD's merger agreement with Netflix, Inc. (NASDAQ: NFLX):
Paramount welcomes the WBD Board's determination and looks forward to continuing to engage constructively with WBD to deliver the benefits of Paramount's proposal to WBD shareholders, the creative community and consumers.Under the terms of its revised offer, Paramount:Increased the purchase price to $31.00 per WBD share in cash for 100% of the company,Accelerated timing of the daily "ticking fee" of $0.25 per quarter to commence after September 30, 2026, until the consummation of the Paramount transaction,Increased the regulatory termination fee to $7 billion in the event the transaction does not close due to regulatory matters,Reaffirmed it will pay the $2.8 billion termination fee which WBD would be required to pay to Netflix to terminate its existing Netflix merger agreement,Reaffirmed it will eliminate WBD's potential $1.5 billion financing cost associated with its debt exchange offer,Agreed to an obligation to contribute additional equity funding to the extent needed to support the solvency certificate required by PSKY's lending banks, andAgreed to a "Company Material Adverse Effect" definition that excludes the performance of WBD's Global Linear Networks business.As previously announced, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act applicable to Paramount's acquisition of WBD expired at 11:59 pm on February 19, 2026.The entry into a transaction with WBD would require the WBD Board to determine that Paramount's revised proposal is a "Company Superior Proposal" under its merger agreement with Netflix, the expiration of a four business day match period, termination of the Netflix merger agreement and execution of a definitive merger agreement between Paramount and WBD.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information please visit www.paramount.com.Cautionary Note Regarding Forward-Looking Statements This communication contains both historical and forward-looking statements, including statements related to Paramount Skydance Corporation's ("Paramount") future financial results and performance, potential achievements, anticipated reporting segments and industry changes and developments. All statements that are not statements of historical fact are, or may be deemed to be, "forward-looking statements". Similarly, statements that describe Paramount's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect Paramount's current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause Paramount's actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others: the outcome of the tender offer by Paramount and Prince Sub Inc. (the "Tender Offer") to purchase for cash all of the outstanding Series A common stock of Warner Bros. Discovery, Inc. ("WBD") or any discussions between Paramount and WBD with respect to a possible transaction (including, without limitation, by means of the Tender Offer, the "Potential Transaction"), including the possibility that the Tender Offer will not be successful, that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction will be materially different from those described herein; the conditions to the completion of the Potential Transaction or the previously announced transaction between WBD and Netflix, Inc. ("Netflix") pursuant to the Agreement and Plan of Merger, dated December 4, 2025, among Netflix, Nightingale Sub, Inc., WBD and New Topco 25, Inc. (the "Proposed Netflix Transaction"), including the receipt of any required stockholder and regulatory approvals for either transaction, the proposed financing for the Potential Transaction, the indebtedness Paramount expects to incur in connection with the Potential Transaction and the total indebtedness of the combined company; the possibility that Paramount may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate the operations of WBD with those of Paramount, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Potential Transaction; risks related to Paramount's streaming business; the adverse impact on Paramount's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries, including cost increases; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to Paramount's decisions to make investments in new businesses, products, services and technologies, and the evolution of Paramount's business strategy; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of Paramount's content; damage to Paramount's reputation or brands; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and content; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting Paramount's businesses generally, including tariffs and other changes in trade policies; the inability to hire or retain key employees or secure creative talent; disruptions to Paramount's operations as a result of labor disputes; the risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global and Skydance Media, LLC successfully and to achieve anticipated synergies; volatility in the prices of Paramount's Class B Common Stock; potential conflicts of interest arising from Paramount's ownership structure with a controlling stockholder; and other factors described in Paramount's news releases and filings with the Securities and Exchange Commission (the "SEC"), including but not limited to Paramount Global's most recent Annual Report on Form 10-K and Paramount's reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that Paramount does not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this report, and Paramount does not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.Additional Information This communication does not constitute an offer to buy or a solicitation of an offer to sell securities. This communication relates to a proposal that Paramount has made for an acquisition of WBD, the Tender Offer that Paramount, through Prince Sub Inc., its wholly owned subsidiary, has made to WBD stockholders, and Paramount's intention to solicit proxies against the Proposed Netflix Transaction and other proposals to be voted on by WBD stockholders at the special meeting of WBD stockholders to be held to approve the Proposed Netflix Transaction (the "Netflix Merger Solicitation") and/or for use at the WBD annual meeting of stockholders. The Tender Offer is being made pursuant to a tender offer statement on Schedule TO (including the offer to purchase, the letter of transmittal and other related offer documents), filed with the SEC on December 8, 2025. These materials, as may be amended from time to time, contain important information, including the terms and conditions of the offer. Subject to future developments, Paramount (and, if a negotiated transaction is agreed, WBD) may file additional documents with the SEC. This communication is not a substitute for any proxy statement, tender offer statement, or other document Paramount and/or WBD may file with the SEC in connection with the Potential Transaction.Paramount, Prince Sub Inc. and the other participants in the Netflix Merger Solicitation have filed a preliminary proxy statement and the accompanying BLUE proxy card with the SEC on January 22, 2026 in connection with the Netflix Merger Solicitation (the "Special Meeting Preliminary Proxy Statement"). Paramount expects to file a definitive proxy statement and the accompanying proxy card with the SEC in connection with the Netflix Merger Solicitation and may file other proxy solicitation materials in connection therewith or the annual meeting of WBD stockholders, or other documents with the SEC.PARAMOUNT STRONGLY ADVISES ALL STOCKHOLDERS OF WBD TO READ THE SPECIAL MEETING PRELIMINARY PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATED TO THE PARTICIPANTS. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, PARAMOUNT AND THE OTHER PARTICIPANTS IN SUCH PROXY SOLICITATIONS WILL PROVIDE COPIES OF THE APPLICABLE PROXY STATEMENTS WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR SUCH COPIES SHOULD BE DIRECTED TO THE APPLICABLE PROXY SOLICITOR. Participants in the SolicitationThe participants in the Netflix Merger Solicitation are expected to be Paramount, Prince Sub Inc., certain directors and executive officers of Paramount and Prince Sub Inc., Lawrence Ellison, RedBird Capital Management and The Lawrence J. Ellison Revocable Trust, u/a/d 1/22/88, as amended. Additional information about the participants in the Netflix Merger Solicitation is available in the Special Meeting Preliminary Proxy Statement.PSKY-IRMedia Contacts: 
Paramount
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.comBrunswick Group
ParamountSkydance@brunswickgroup.comGagnier Communications
Dan Gagnier
dg@gagnierfc.comInvestor Contacts:
Paramount 
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas @teena
Toll-Free: (844) 343-2621
info@okapipartners.com 



View original content:https://www.prnewswire.com/news-releases/paramount-comments-on-warner-bros-discovery-boards-determination-that-paramount-proposal-could-reasonably-be-expected-to-lead-to-a-superior-proposal-302696430.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY BOARD'S DETERMINATION THAT PARAMOUNT PROPOSAL COULD REASONABLY BE EXPECTED TO LEAD TO A SUPERIOR PROPOSAL

Warner Bros. Discovery Board of Directors Determines Revised Proposal from Paramount Skydance Could Reasonably Be Expected to Lead to a "Company Superior Proposal"February 24, 2026 4:21 PM
PR Newswire (US)

WBD Will Continue to Engage with PSKY; Netflix Merger Agreement Remains in PlaceNEW YORK, Feb. 24, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or "WBD") (NASDAQ: WBD) today announced that its Board of Directors (the "Board"), consistent with its fiduciary duties and following consultation with its independent financial and legal advisors, has determined that the revised proposal from Paramount Skydance Corporation ("Paramount Skydance" or "PSKY") (NASDAQ: PSKY) could reasonably be expected to lead to a "Company Superior Proposal" as defined in WBD's merger agreement with Netflix, Inc. ("Netflix") (NASDAQ: NFLX) (the "Netflix Merger Agreement").The revised proposal includes an increased purchase price of $31.00 per WBD share in cash, plus a daily ticking fee equal to $0.25 per quarter beginning after September 30, 2026, as well as a $7 billion regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matters, payment by PSKY of the $2.8 billion termination fee that WBD would be required to pay to Netflix to terminate the existing Netflix Merger Agreement, an obligation to contribute additional equity funding to the extent needed to support the solvency certificate required by PSKY's lending banks, and a "Company Material Adverse Effect" definition that excludes the performance of WBD's Global Linear Networks business. The Board has not made a determination as to whether the revised PSKY proposal is superior to the merger with Netflix. WBD will engage further with PSKY to determine if a proposal that constitutes a "Company Superior Proposal," as defined in the Netflix Merger Agreement, can be reached. In the event that the Board ultimately determines such a "Company Superior Proposal" has been received, Netflix will have four business days after such determination to negotiate with WBD and to propose any revisions to the Netflix transaction.There can be no assurance that the Board will conclude that the transaction proposed by PSKY is superior to the merger with Netflix or that any definitive agreement or transaction will result from WBD's discussions with PSKY. The Netflix Merger Agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction and is not withdrawing or modifying its recommendation.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Important Information about the Tender Offer and Where to Find It
WBD has filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer (the "tender offer") by a subsidiary of PSKY with the Securities and Exchange Commission (the "SEC").  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER.  Investors and security holders may obtain free copies of the solicitation/recommendation statement as well as other filings by WBD, without charge, at the SEC's website, https://www.sec.gov.  In addition, free copies of documents filed with the SEC by WBD will be made available free of charge on WBD's investor relations website at https://ir.wbd.com.Important Information about the Transaction and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Netflix (the "proposed transaction").  In connection with the proposed transaction, WBD filed a definitive proxy statement (the "Proxy Statement") with the SEC.  The Proxy Statement was first mailed to WBD stockholders on or around February 17, 2026.  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.  Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about WBD and Netflix, without charge, at the SEC's website, https://www.sec.gov.  Free copies of the Proxy Statement and each company's other filings with the SEC may also be obtained from the respective companies.  Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com.  Free copies of documents filed with the SEC by Netflix will be made available on Netflix's investor relations website at https://ir.netflix.net.Participants in the Solicitation
WBD and Netflix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors."  Information about the directors and executive officers of Netflix is set forth in its definitive proxy statement filed with the SEC on April 17, 2025, under the headings "Our Board of Directors" and "Our Company Executive Officers."  Investors may obtain additional information regarding the interests of such participants by reading the Proxy Statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking Statements
Information set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Netflix, constitute forward-looking statements. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, statements about the tender offer and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Netflix and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) the final allocation of indebtedness between WBD and a newly formed subsidiary ("Discovery Global") in connection with the separation could cause a reduction to the consideration for the proposed transaction; (7) risks related to litigation brought in connection with the proposed transaction; (8) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (9) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (10) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (11) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (12) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; (13) the risk that Discovery Global, as a new company that currently has no credit rating, will not have access to the capital markets on acceptable terms; (14) the risk that Discovery Global may be unable to achieve some or all of the benefits that WBD expects Discovery Global to achieve as an independent, publicly-traded company; (15) the risk that Discovery Global may be more susceptible to market fluctuations and other adverse events than it would have otherwise been while still a part of WBD; (16) the risk that Discovery Global will incur significant indebtedness in connection with the separation, and the degree to which it will be leveraged following completion of the separation may materially and adversely affect its business, financial condition and results of operations; (17) the ability to obtain or consummate financing or refinancing related to the proposed transaction or the separation upon acceptable terms or at all; (18) volatility or a decline in the market price for Discovery Global common stock following the separation; (19) uncertainties as to how many WBD stockholders will tender their shares in the tender offer; (20) the conditions to the completion of the tender offer, including the receipt of any required stockholder and regulatory approvals; (21) PSKY's ability to finance the tender offer and the indebtedness PSKY expects to incur in connection with the tender offer; (22) the possibility that PSKY may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate WBD's operations with those of PSKY, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the tender offer; (23) the possibility that WBD's discussions with PSKY may not lead to a superior proposal by PSKY; and (24) the response of WBD, Netflix or PSKY management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Netflix's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. Neither WBD nor Netflix is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-board-of-directors-determines-revised-proposal-from-paramount-skydance-could-reasonably-be-expected-to-lead-to-a-company-superior-proposal-302696253.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Board of Directors Determines Revised Proposal from Paramount Skydance Could Reasonably Be Expected to Lead to a "Company Superior Proposal"

PARAMOUNT CONFIRMS SUBMISSION OF REVISED PROPOSAL TO ACQUIRE WARNER BROS. DISCOVERYFebruary 24, 2026 9:10 AM
PR Newswire (US)

LOS ANGELES and NEW YORK, Feb. 24, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today confirmed it has submitted to the Board of Directors of Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") a revised proposal to acquire WBD. This submission follows a period of engagement with WBD after it received a seven-day waiver under its merger agreement with Netflix, Inc. (NASDAQ: NFLX) to engage with Paramount. The entry into a transaction with WBD would require the WBD Board to determine that Paramount's revised proposal is a "Company Superior Proposal" under its merger agreement with Netflix, the expiration of a four business day match period, termination of the Netflix merger agreement and execution of a definitive merger agreement between Paramount and WBD.While the WBD Board of Directors considers Paramount's revised proposal, Paramount will continue to maintain its previously announced tender offer and its solicitation in opposition to the inferior Netflix merger.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. Paramount's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Paramount TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information, visit paramount.com.Cautionary Note Regarding Forward-Looking Statements
This communication contains both historical and forward-looking statements, including statements related to Paramount Skydance Corporation's ("Paramount") future financial results and performance, potential achievements, anticipated reporting segments and industry changes and developments. All statements that are not statements of historical fact are, or may be deemed to be, "forward-looking statements". Similarly, statements that describe Paramount's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect Paramount's current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause Paramount's actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others:  the outcome of the tender offer by Paramount and Prince Sub Inc. (the "Tender Offer") to purchase for cash all of the outstanding Series A common stock of Warner Bros. Discovery, Inc. ("WBD") or any discussions between Paramount and WBD with respect to a possible transaction (including, without limitation, by means of the Tender Offer, the "Potential Transaction"), including the possibility that the Tender Offer will not be successful, that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction will be materially different from those described herein; the conditions to the completion of the Potential Transaction or the previously announced transaction between WBD and Netflix, Inc. ("Netflix") pursuant to the Agreement and Plan of Merger, dated December 4, 2025 (as it may be amended or supplemented), among Netflix, Nightingale Sub, Inc., WBD and New Topco 25, Inc. (the "Proposed Netflix Transaction"), including the receipt of any required stockholder and regulatory approvals for either transaction, the proposed financing for the Potential Transaction, the indebtedness Paramount expects to incur in connection with the Potential Transaction and the total indebtedness of the combined company; the possibility that Paramount may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate the operations of WBD with those of Paramount, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Potential Transaction; risks related to Paramount's streaming business; the adverse impact on Paramount's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries, including cost increases; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to Paramount's decisions to make investments in new businesses, products, services and technologies, and the evolution of Paramount's business strategy; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of Paramount's content; damage to Paramount's reputation or brands; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and content; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting Paramount's businesses generally, including tariffs and other changes in trade policies; the inability to hire or retain key employees or secure creative talent; disruptions to Paramount's operations as a result of labor disputes; the risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global and Skydance Media, LLC successfully and to achieve anticipated synergies; volatility in the prices of Paramount's Class B Common Stock; potential conflicts of interest arising from Paramount's ownership structure with a controlling stockholder; and other factors described in Paramount's news releases and filings with the Securities and Exchange Commission (the "SEC"), including but not limited to Paramount's most recent Annual Report on Form 10-K and Paramount's reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that Paramount does not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this report, and Paramount does not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.Additional Information
This communication does not constitute an offer to buy or a solicitation of an offer to sell securities. This communication relates to a proposal that Paramount has made for an acquisition of WBD, the Tender Offer that Paramount, through Prince Sub Inc., its wholly owned subsidiary, has made to WBD stockholders, and Paramount's intention to solicit proxies against the Proposed Netflix Transaction and other proposals to be voted on by WBD stockholders at the special meeting of WBD stockholders to be held to approve the Proposed Netflix Transaction (the "Netflix Merger Solicitation") and/or for use at the WBD annual meeting of stockholders. The Tender Offer is being made pursuant to a tender offer statement on Schedule TO (including the offer to purchase, the letter of transmittal and other related offer documents), filed with the SEC on December 8, 2025. These materials, as may be amended from time to time, contain important information, including the terms and conditions of the offer. Subject to future developments, Paramount (and, if a negotiated transaction is agreed, WBD) may file additional documents with the SEC. This communication is not a substitute for any proxy statement, tender offer statement, or other document Paramount and/or WBD may file with the SEC in connection with the Potential Transaction.Paramount, Prince Sub Inc. and the other participants in the Netflix Merger Solicitation have filed a preliminary proxy statement and the accompanying BLUE proxy card with the SEC on January 22, 2026 in connection with the Netflix Merger Solicitation (the "Special Meeting Preliminary Proxy Statement"). Paramount expects to file a definitive proxy statement and the accompanying proxy card with the SEC in connection with the Netflix Merger Solicitation and may file other proxy solicitation materials in connection therewith or the annual meeting of WBD stockholders, or other documents with the SEC.PARAMOUNT STRONGLY ADVISES ALL STOCKHOLDERS OF WBD TO READ THE SPECIAL MEETING PRELIMINARY PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATED TO THE PARTICIPANTS. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, PARAMOUNT AND THE OTHER PARTICIPANTS IN SUCH PROXY SOLICITATIONS WILL PROVIDE COPIES OF THE APPLICABLE PROXY STATEMENTS WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR SUCH COPIES SHOULD BE DIRECTED TO THE APPLICABLE PROXY SOLICITOR.Participants in the Solicitation
The participants in the Netflix Merger Solicitation are expected to be Paramount, Prince Sub Inc., certain directors and executive officers of Paramount and Prince Sub Inc., Lawrence Ellison, RedBird Capital Management and The Lawrence J. Ellison Revocable Trust, u/a/d 1/22/88, as amended. Additional information about the participants in the Netflix Merger Solicitation is available in the Special Meeting Preliminary Proxy Statement.PSKY-IRMedia Contacts:
Paramount
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.comBrunswick Group
ParamountSkydance@brunswickgroup.comGagnier Communications
Dan Gagnier
dg@gagnierfc.comInvestor Contacts:
Paramount
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas @teena
Toll-Free: (844) 343-2621
info@okapipartners.com  



View original content:https://www.prnewswire.com/news-releases/paramount-confirms-submission-of-revised-proposal-to-acquire-warner-bros-discovery-302695815.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT CONFIRMS SUBMISSION OF REVISED PROPOSAL TO ACQUIRE WARNER BROS. DISCOVERY

Warner Bros. Discovery Confirms Receipt of Revised Proposal from Paramount SkydanceFebruary 24, 2026 8:15 AM
PR Newswire (US)

NEW YORK, Feb. 24, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or "WBD") (NASDAQ: WBD) today confirmed that it has received a revised proposal from Paramount Skydance Corporation ("Paramount Skydance" or "PSKY") (NASDAQ: PSKY) to acquire all of the outstanding shares of WBD common stock.The Board issued the following statement:Following engagement with PSKY during the seven-day limited waiver period, we received a revised PSKY proposal to acquire WBD, which we are reviewing in consultation with our financial and legal advisors. We will update our shareholders following the Board's review. The Netflix merger agreement remains in effect, and the Board continues to recommend in favor of the Netflix transaction. WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Important Information about the Tender Offer and Where to Find It
WBD has filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer (the "tender offer") by a subsidiary of PSKY with the Securities and Exchange Commission (the "SEC").  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER.  Investors and security holders may obtain free copies of the solicitation/recommendation statement as well as other filings by WBD, without charge, at the SEC's website, https://www.sec.gov.  In addition, free copies of documents filed with the SEC by WBD will be made available free of charge on WBD's investor relations website at https://ir.wbd.com.Important Information about the Transaction and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Netflix (the "proposed transaction").  In connection with the proposed transaction, WBD filed a definitive proxy statement (the "Proxy Statement") with the SEC.  The Proxy Statement was first mailed to WBD stockholders on or around February 17, 2026.  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.  Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about WBD and Netflix, without charge, at the SEC's website, https://www.sec.gov.  Free copies of the Proxy Statement and each company's other filings with the SEC may also be obtained from the respective companies.  Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com.  Free copies of documents filed with the SEC by Netflix will be made available on Netflix's investor relations website at https://ir.netflix.net.Participants in the Solicitation
WBD and Netflix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors."  Information about the directors and executive officers of Netflix is set forth in its definitive proxy statement filed with the SEC on April 17, 2025, under the headings "Our Board of Directors" and "Our Company Executive Officers."  Investors may obtain additional information regarding the interests of such participants by reading the Proxy Statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking Statements
Information set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Netflix, constitute forward-looking statements. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, statements about the tender offer and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Netflix and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) the final allocation of indebtedness between WBD and a newly formed subsidiary ("Discovery Global") in connection with the separation could cause a reduction to the consideration for the proposed transaction; (7) risks related to litigation brought in connection with the proposed transaction; (8) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (9) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (10) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (11) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (12) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; (13) the risk that Discovery Global, as a new company that currently has no credit rating, will not have access to the capital markets on acceptable terms; (14) the risk that Discovery Global may be unable to achieve some or all of the benefits that WBD expects Discovery Global to achieve as an independent, publicly-traded company; (15) the risk that Discovery Global may be more susceptible to market fluctuations and other adverse events than it would have otherwise been while still a part of WBD; (16) the risk that Discovery Global will incur significant indebtedness in connection with the separation, and the degree to which it will be leveraged following completion of the separation may materially and adversely affect its business, financial condition and results of operations; (17) the ability to obtain or consummate financing or refinancing related to the proposed transaction or the separation upon acceptable terms or at all; (18) volatility or a decline in the market price for Discovery Global common stock following the separation; (19) uncertainties as to how many WBD stockholders will tender their shares in the tender offer; (20) the conditions to the completion of the tender offer, including the receipt of any required stockholder and regulatory approvals; (21) PSKY's ability to finance the tender offer and the indebtedness PSKY expects to incur in connection with the tender offer; (22) the possibility that PSKY may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate WBD's operations with those of PSKY, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the tender offer; and (23) the response of WBD, Netflix or PSKY management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Netflix's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. Neither WBD nor Netflix is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. 



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-confirms-receipt-of-revised-proposal-from-paramount-skydance-302695738.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Confirms Receipt of Revised Proposal from Paramount Skydance

AI disruption concerns and new Trump tariffs dominate market focus; key earnings ahead: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 24, 2026 5:15 AM
IH Market News
U.S. equity futures traded cautiously on Tuesday as investors weighed concerns over artificial intelligence–driven disruption while preparing for a busy week of corporate earnings. Sentiment was also shaped by the implementation of President Donald Trump’s new 10% global tariffs following a Supreme Court ruling that invalidated earlier emergency trade measures. Meanwhile, Paramount Skydance (NASDAQ:PSKY) has reportedly raised its takeover bid for Warner Bros Discovery (NASDAQ:WBD), and Home Depot (NYSE:HD) is set to release quarterly results later in the day.



Futures trade cautiously



Futures tied to major U.S. indices hovered close to unchanged levels as markets awaited earnings from several major companies, including AI heavyweight Nvidia (NASDAQ:NVDA).As of 03:03 ET, Dow futures were up 47 points, or 0.1%, S&P 500 futures gained 10 points, or 0.1%, and Nasdaq 100 futures rose 38 points, or 0.2%.Wall Street’s main indices declined in the previous session amid persistent concerns that emerging AI models could disrupt multiple industries. Analysts noted that the latest market weakness followed a report from Citrini Research outlining a severe hypothetical scenario in which AI adoption could trigger widespread white-collar job losses, weaken consumer spending, increase loan defaults and ultimately push the economy into contraction.Citrini emphasised that the analysis represented a “scenario, not a prediction,” but this clarification did little to calm investors already worried about pressure on mega-cap technology companies investing heavily in AI infrastructure.“As has been the case for weeks, AI is clearly a net negative for the equity market as hyperscalers get weighed down [free cash flow] fears while disruption worries eviscerate software and several other sectors,” analysts at Vital Knowledge wrote in a note.



Trump’s 10% tariffs take effect



President Trump’s latest global trade tariffs came into force at midnight Tuesday at a 10% rate after a Supreme Court decision last week struck down his so-called “reciprocal” tariffs.The new rate was communicated through the U.S. Customs and Border Protection messaging system and remains below the 15% level Trump had suggested following the ruling, which determined that his use of emergency economic powers to impose broad global surcharges was unlawful.Trump initially reinstated a universal 10% tariff following the decision and later threatened to raise the rate to 15%. According to Bloomberg News, the White House is now working toward issuing a formal order to increase tariffs to that higher level.These tariffs, introduced under Section 122 of the Trade Act of 1974, are scheduled to remain in place for 150 days, after which Congress will decide whether to extend or modify them.Uncertainty continues to surround the broader trade outlook, particularly regarding agreements negotiated before the court ruling. Responding to reports that some countries were reconsidering existing deals, Trump warned trading partners via social media not to “play games.”



Paramount reportedly raises bid for Warner Bros Discovery



Paramount Skydance (NASDAQ:PSKY) has submitted an improved offer for Warner Bros Discovery (NASDAQ:WBD), according to a Reuters report, as it attempts to persuade the media group to abandon its agreement with Netflix (NASDAQ:NFLX).Reuters, citing a source familiar with the discussions, said the revised proposal improves upon Paramount’s earlier $30-per-share offer, which valued Warner Bros at approximately $108.4 billion. Warner Bros had previously argued that the initial bid undervalued the company and granted Paramount a seven-day window — ending February 23 — to present an updated proposal.Netflix has separately agreed a deal valued at $27.75 per share in cash, equivalent to roughly $82.7 billion, covering Warner’s studios and streaming assets.Variety reported that Warner Bros is expected to review Paramount’s revised offer even as management continues to encourage shareholders to support the Netflix agreement.Control of Warner Bros’ intellectual property portfolio — including major franchises such as “Game of Thrones” and “Harry Potter” — remains central to the takeover contest.



Home Depot earnings due



Home Depot (NYSE:HD) is scheduled to publish its latest quarterly results before the opening bell on Tuesday.The home-improvement retailer previously issued cautious guidance for fiscal 2026, forecasting modest comparable sales growth and profit as demand for high-value renovation items remains subdued.During an investor day in December, chief financial officer Richard McPhail warned that consumer caution linked to cost-of-living pressures is expected to persist, noting there has not been “a catalyst or an inflection in housing activity.”High property prices and subdued hiring trends have contributed to uneven housing demand in the United States, despite signs of easing interest and mortgage rates.The company expects same-store sales growth in a range between flat and 2% for fiscal 2026, while adjusted earnings per share are projected to rise between flat and 4%, both below LSEG forecasts cited by Reuters.



Oil prices approach seven-month highs



Oil prices moved higher, trading near seven-month highs ahead of renewed nuclear negotiations between the United States and Iran later this week.Brent crude futures rose 0.2% to $71.28 per barrel, while U.S. West Texas Intermediate crude gained 0.3% to $66.51 per barrel. Both benchmarks are currently trading near levels last seen in early August 2025.The United States and Iran are expected to hold a third round of nuclear talks in Geneva on Thursday, amid increasing concerns about potential military escalation as Washington pushes for the termination of Iran’s nuclear programme.Warner Brothers Discovery stock priceHome Depot stock priceNvidia stock priceParamount Skydance stock priceNetflix stock price

Original: AI disruption concerns and new Trump tariffs dominate market focus; key earnings ahead: Dow Jones, S&P, Nasdaq, Wall Street Futures

PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY DISCLOSURESFebruary 17, 2026 2:47 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, Feb. 17, 2026  /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today provided the following statement in regards to disclosures by Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD"):Paramount acknowledges the announcement from Warner Bros. Discovery that, acting with Netflix, they have decided to provide Paramount a 7-day "waiver" for negotiation. In doing so, the WBD Board has chosen to avoid making the customary determination under the Netflix merger agreement that Paramount's superior $30 per share all-cash offer "could reasonably be expected to result in" a superior proposal, which would have given it an unfettered right to negotiate without a time deadline.The Board has also elected to proceed with convening its special shareholder meeting on March 20 to seek approval of the Netflix merger and has commenced mailing its proxy materials, which state that the range of merger consideration offered to WBD shareholders will be a minimum of $21.23 to a maximum of $27.75.By contrast, Paramount already offers a higher value of $30 per share, all-cash and a more expeditious and certain path to closing a transaction, including with the previously disclosed addition of a $0.25 per-share, per-quarter ticking fee.Although the Board's actions are unusual, Paramount is nonetheless prepared to engage in good faith and constructive discussions. At the same time, we will continue to advance our tender offer, maintain our solicitation in opposition to the inferior Netflix merger, and proceed with our intention to nominate a slate of directors at the upcoming WBD annual meeting.Shareholders with questions about how to vote their WBD shares AGAINST the inferior Netflix transaction may contact Paramount's proxy solicitor Okapi Partners at (212) 297-0720, Toll-Free: (844) 343-2621, or by email at info@okapipartners.com.The tender offer statement and related materials have been filed with the SEC. WBD shareholders who need additional copies of the tender offer statement and related materials or who have questions regarding the offer should contact Okapi Partners LLC, the information agent for the tender offer, toll-free at (844) 343-2621.PARAMOUNT URGES WBD SHAREHOLDERS TO REGISTER THEIR PREFERENCE FOR PARAMOUNT'S SUPERIOR OFFER WITH THE WBD BOARD OF DIRECTORS BY TENDERING THEIR SHARES TODAY.WBD shareholders and other interested parties can find additional information about Paramount's superior offer at www.StrongerHollywood.com.About Paramount, a Skydance Corporation Paramount, a Skydance Corporation is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. Paramount's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Paramount TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information, visit paramount.com.Cautionary Note Regarding Forward-Looking Statements
This communication contains both historical and forward-looking statements, including statements related to Paramount Skydance Corporation's ("Paramount") future financial results and performance, potential achievements, anticipated reporting segments and industry changes and developments. All statements that are not statements of historical fact are, or may be deemed to be, "forward-looking statements". Similarly, statements that describe Paramount's objectives, plans or goals are or may be forward-looking statements. These forward-looking statements reflect Paramount's current expectations concerning future results and events; generally can be identified by the use of statements that include phrases such as "believe," "expect," "anticipate," "intend," "plan," "foresee," "likely," "will," "may," "could," "estimate" or other similar words or phrases; and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause Paramount's actual results, performance or achievements to be different from any future results, performance or achievements expressed or implied by these statements. These risks, uncertainties and other factors include, among others:  the outcome of the tender offer by Paramount and Prince Sub Inc. (the "Tender Offer") to purchase for cash all of the outstanding Series A common stock of Warner Bros. Discovery, Inc. ("WBD") or any discussions between Paramount and WBD with respect to a possible transaction (including, without limitation, by means of the Tender Offer, the "Potential Transaction"), including the possibility that the Tender Offer will not be successful, that the parties will not agree to pursue a business combination transaction or that the terms of any such transaction will be materially different from those described herein; the conditions to the completion of the Potential Transaction or the previously announced transaction between WBD and Netflix, Inc. ("Netflix") pursuant to the Agreement and Plan of Merger, dated December 4, 2025 (as it may be amended or supplemented), among Netflix, Nightingale Sub, Inc., WBD and New Topco 25, Inc. (the "Proposed Netflix Transaction"), including the receipt of any required stockholder and regulatory approvals for either transaction, the proposed financing for the Potential Transaction, the indebtedness Paramount expects to incur in connection with the Potential Transaction and the total indebtedness of the combined company; the possibility that Paramount may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate the operations of WBD with those of Paramount, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the Potential Transaction; risks related to Paramount's streaming business; the adverse impact on Paramount's advertising revenues as a result of changes in consumer behavior, advertising market conditions and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries, including cost increases; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to Paramount's decisions to make investments in new businesses, products, services and technologies, and the evolution of Paramount's business strategy; the potential for loss of carriage or other reduction in or the impact of negotiations for the distribution of Paramount's content; damage to Paramount's reputation or brands; losses due to asset impairment charges for goodwill, intangible assets, FCC licenses and content; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; content infringement; domestic and global political, economic and regulatory factors affecting Paramount's businesses generally, including tariffs and other changes in trade policies; the inability to hire or retain key employees or secure creative talent; disruptions to Paramount's operations as a result of labor disputes; the risks and costs associated with the integration of, and Paramount's ability to integrate, the businesses of Paramount Global and Skydance Media, LLC successfully and to achieve anticipated synergies; volatility in the prices of Paramount's Class B Common Stock; potential conflicts of interest arising from Paramount's ownership structure with a controlling stockholder; and other factors described in Paramount's news releases and filings with the Securities and Exchange Commission (the "SEC"), including but not limited to Paramount's most recent Annual Report on Form 10-K and Paramount's reports on Form 10-Q and Form 8-K. There may be additional risks, uncertainties and factors that Paramount does not currently view as material or that are not necessarily known. The forward-looking statements included in this communication are made only as of the date of this report, and Paramount does not undertake any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances.Additional Information
This communication does not constitute an offer to buy or a solicitation of an offer to sell securities. This communication relates to a proposal that Paramount has made for an acquisition of WBD, the Tender Offer that Paramount, through Prince Sub Inc., its wholly owned subsidiary, has made to WBD stockholders, and Paramount's intention to solicit proxies against the Proposed Netflix Transaction and other proposals to be voted on by WBD stockholders at the special meeting of WBD stockholders to be held to approve the Proposed Netflix Transaction (the "Netflix Merger Solicitation") and/or for use at the WBD annual meeting of stockholders. The Tender Offer is being made pursuant to a tender offer statement on Schedule TO (including the offer to purchase, the letter of transmittal and other related offer documents), filed with the SEC on December 8, 2025. These materials, as may be amended from time to time, contain important information, including the terms and conditions of the offer. Subject to future developments, Paramount (and, if a negotiated transaction is agreed, WBD) may file additional documents with the SEC. This communication is not a substitute for any proxy statement, tender offer statement, or other document Paramount and/or WBD may file with the SEC in connection with the Potential Transaction.Paramount, Prince Sub Inc. and the other participants in the Netflix Merger Solicitation have filed a preliminary proxy statement and the accompanying BLUE proxy card with the SEC on January 22, 2026 in connection with the Netflix Merger Solicitation (the "Special Meeting Preliminary Proxy Statement"). Paramount expects to file a definitive proxy statement and the accompanying proxy card with the SEC in connection with the Netflix Merger Solicitation and may file other proxy solicitation materials in connection therewith or the annual meeting of WBD stockholders, or other documents with the SEC.PARAMOUNT STRONGLY ADVISES ALL STOCKHOLDERS OF WBD TO READ THE SPECIAL MEETING PRELIMINARY PROXY STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION, INCLUDING INFORMATION RELATED TO THE PARTICIPANTS. SUCH PROXY MATERIALS WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEB SITE AT HTTP://WWW.SEC.GOV. IN ADDITION, PARAMOUNT AND THE OTHER PARTICIPANTS IN SUCH PROXY SOLICITATIONS WILL PROVIDE COPIES OF THE APPLICABLE PROXY STATEMENTS WITHOUT CHARGE, WHEN AVAILABLE, UPON REQUEST. REQUESTS FOR SUCH COPIES SHOULD BE DIRECTED TO THE APPLICABLE PROXY SOLICITOR.Participants in the Solicitation
The participants in the Netflix Merger Solicitation are expected to be Paramount, Prince Sub Inc., certain directors and executive officers of Paramount and Prince Sub Inc., Lawrence Ellison, RedBird Capital Management and The Lawrence J. Ellison Revocable Trust, u/a/d 1/22/88, as amended. Additional information about the participants in the Netflix Merger Solicitation is available in the Special Meeting Preliminary Proxy Statement.PSKY-IRMedia Contacts:
Paramount
Melissa Zukerman / Laura Watson
msz@paramount.com / laura.watson@paramount.comBrunswick Group
ParamountSkydance@brunswickgroup.comGagnier Communications
Dan Gagnier
dg@gagnierfc.comInvestor Contacts:
Paramount
Kevin Creighton / Logan Thomas
kevin.creighton@paramount.com / logan.thomas @teena
Toll-Free: (844) 343-2621
info@okapipartners.com  



View original content:https://www.prnewswire.com/news-releases/paramount-comments-on-warner-bros-discovery-disclosures-302689880.htmlSOURCE Paramount Skydance Corporation

Original: PARAMOUNT COMMENTS ON WARNER BROS. DISCOVERY DISCLOSURES

Warner Bros rejects Paramount Skydance bid but invites improved proposalFebruary 17, 2026 11:09 AM
IH Market News
Warner Bros. Discovery (NASDAQ:WBD) has turned down a revised hostile takeover proposal of $30 per share from Paramount Skydance (NASDAQ:PSKY), though it has granted the bidder a one-week window to return with a stronger offer, the company said Tuesday.In a statement, Warner Bros disclosed that Paramount had also floated, on an informal basis, a potential price of $31 per share — a figure that appears to have prompted the board to consider further discussions.The competing suitor now has until February 23 to deliver its “best and final offer,” Warner Bros noted. Under the existing merger agreement, Netflix (NASDAQ:NFLX) retains the right to match any competing bid.The latest development adds another twist to the battle over Warner Bros’ storied film and television studio, including its extensive catalog of movies and TV content.Warner Brothers Discovery stock priceParamount Skydance stock priceNetflix stock price

Original: Warner Bros rejects Paramount Skydance bid but invites improved proposal

Warner Bros. Discovery Sets Special Meeting Date of March 20, 2026, and Unanimously Recommends Shareholders Vote FOR Netflix Merger; Warner Bros. Discovery to Initiate Discussions with Paramount Skydance for Their Best and Final OfferFebruary 17, 2026 7:00 AM
PR Newswire (US)

Netflix Grants Seven-Day Waiver Permitting WBD to Engage with PSKY Regarding Deficiencies and Open Items in Amended Offer PSKY Representative Separately Informed WBD it Would Agree to Pay $31 Per Share Pending Engagement and That the Offer Was Not PSKY's "Best and Final" ProposalNEW YORK, Feb. 17, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("WBD") (NASDAQ: WBD) today announced that it will hold the Special Meeting of Shareholders (the "Special Meeting") to vote on the merger with Netflix, Inc. ("Netflix") (NASDAQ: NFLX) on March 20, 2026 at 8:00 a.m. Eastern Time and the commencement of mailing of the definitive proxy statement to shareholders in connection with the Special Meeting. WBD also announced today that Netflix has provided WBD a limited waiver under the terms of WBD's merger agreement with Netflix, permitting WBD to engage in discussions with Paramount Skydance ("PSKY") (NASDAQ: PSKY) for a seven-day period ending on February 23, 2026 to seek clarity for WBD stockholders and provide PSKY the ability to make its best and final offer. During this period, WBD will engage with PSKY to discuss the deficiencies that remain unresolved and clarify certain terms of PSKY's proposed merger agreement. Netflix retains its matching rights as defined by the merger agreement.The WBD Board of Directors (the "WBD Board") continues to unanimously recommend in favor of the Netflix merger. The WBD Board also unanimously recommends that shareholders reject the PSKY offer, for the reasons set forth in the amendment to our Schedule 14D-9 filed today with the SEC. Following receipt of PSKY's latest amended offer, a senior representative for PSKY informed a WBD Board member that, if the WBD Board authorized discussions, PSKY would agree to pay $31 per share and that the offer was not PSKY's "best and final" proposal. This price, along with several other matters that PSKY stated it would address in its February 10 letter, are not reflected in the latest merger agreement that PSKY proposed. To provide specific clarity in this regard, WBD has today sent PSKY a letter, included below, setting out the key issues yet to be addressed by PSKY, along with drafts of full transaction agreements for PSKY to confirm the terms of its offer."Throughout the entire process, our sole focus has been on maximizing value and certainty for WBD shareholders," said David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. "Every step of the way, we have provided PSKY with clear direction on the deficiencies in their offers and opportunities to address them. We are engaging with PSKY now to determine whether they can deliver an actionable, binding proposal that provides superior value and certainty for WBD shareholders through their best and final offer." Samuel A. Di Piazza, Jr., Chair of the Warner Bros. Discovery Board of Directors added, "As announced today, we continue to believe the Netflix merger is in the best interests of WBD shareholders due to the tremendous value it provides, our clear path to achieve regulatory approval and the transaction's protections for shareholders against downside risk. With Netflix, we will create a brighter future for the entertainment industry – providing consumers with more choice, creating and protecting jobs and expanding U.S. production capacity while increasing investments to drive the long-term growth of our industry."WBD today sent the following letter to PSKY, together with revised versions of the merger agreement and other transaction documentation:Dear Members of the PSKY Board:The Board of Directors of Warner Bros. Discovery (WBD) is fully committed to delivering a superior transaction to our shareholders. Since our decision last year to separate our Streaming & Studios businesses from our Global Linear Networks business, we have actively explored a wide range of alternatives, including through a publicly-announced strategic review process in which Paramount Skydance (PSKY) participated, having initially approached WBD in September 2025.  Our agreed transaction with Netflix offers superior value for our shareholders, allows us to achieve our strategic goal to separate WBD's businesses, offers a high degree of certainty with minimal risk to the businesses in the interim and has essentially no financing risk.  The WBD Board continues to unanimously recommend that our shareholders approve the Netflix transaction, as reflected in the definitive proxy statement we have filed with the SEC today.On February 10, PSKY amended its tender offer for WBD common stock.  While this amendment addresses some of the concerns that WBD had identified several months ago, it still contains many of the unfavorable terms and conditions that were in the draft agreements submitted by PSKY on December 4, 2025 and December 22, 2025 and twice unanimously rejected by our Board.  PSKY indicated in its February 10 letter to the WBD Board a willingness to address some of those concerns, but does not do so in its proposed merger agreement, leaving WBD with vague assurances of intention. Other important issues raised several times with PSKY are unchanged from your prior submissions.  On February 11th, a senior representative of your financial advisor communicated orally to a member of our Board that PSKY would agree to pay $31 per WBD share if we engage with you, and that $31 is not PSKY's best and final proposal. We are writing to inform you that Netflix has agreed to provide WBD a waiver of certain terms of the Netflix merger agreement to permit us, through February 23, to engage with PSKY to clarify your proposal, which we understand will include a WBD per share price higher than $31.  We seek your best and final proposal.  To be clear, our Board has not determined that your proposal is reasonably likely to result in a transaction that is superior to the Netflix merger.  We continue to recommend and remain fully committed to our transaction with Netflix and have scheduled a special meeting of our shareholders on March 20, 2026 to vote on the Netflix merger agreement.As you know, it is typical and expected for a would-be overbidder to accept the substantive terms of the merger agreement that the target company has already agreed with its existing merger party.  To provide you with specific clarity in this regard, we have prepared, and our legal counsel will deliver to you today, copies of transaction agreements that conform to this approach, address key issues for the WBD Board in prior PSKY offers and incorporate the terms and assurances reflected in your February 10 letter, as well as certain other changes to reflect matters unique to your proposal.  Attached at the end of this letter is a business summary of these changes. As part of your binding proposal, the WBD Board needs confirmation that you are prepared to sign our proposed agreements.  We encourage you to be direct and transparent with your best and final value and other terms in that binding proposal.During this seven-day period – as we consistently did during the strategic review process last year – we welcome the opportunity to engage with you and expeditiously determine whether PSKY can deliver an actionable, binding proposal that provides superior value, transaction certainty and interim protection for WBD's businesses to Warner Bros. Discovery shareholders.On behalf of the WBD Board of Directors,Samuel A. Di Piazza, Jr.                                                       
Board Chair                                                                            David Zaslav
President and
Chief Executive OfficerSummary of Changes to Transaction AgreementsBelow is a summary of the principal business changes reflected in the transaction agreements provided by WBD today, as compared to the draft agreements provided by PSKY in its tender offer.  Many of these reflect terms proposed by PSKY in its public statements but not reflected in its merger agreement; others align the draft agreement with the terms of the Netflix merger agreement.Refinancing and Junior Lien Notes: PSKY to bear expenses in connection with any junior notes liability management exercise when incurred, or pay the $1.5 billion financing fee to WBD at the time it would be due (December 30, 2026).  The Netflix merger agreement does not require WBD to bear any cost in this regard.Bridge Refinancing: PSKY's consent will not be required for WBD's bridge refinancing, which will consist of dollar and euro term loan debt and bonds on market terms available at the time of the refinancing.  The bond component will have a tenor of no more than 7 years, and will be non-callable for no more than 3 years, and the loan component will be non-callable for no more than 1 year.  This provision is substantially more favorable to PSKY than the terms of the Netflix Merger Agreement, which permit WBD full refinancing flexibility.Material Adverse Effect: Consistent with the statement in PSKY's Feb. 10 letter that it is "prepared to address any concerns WBD has regarding the impact of Discovery Global's performance on closing certainty," the "Company Material Adverse Effect" definition excludes effects attributable to the performance of WBD's Global Linear Networks business (consistent with the Netflix Merger Agreement).Equity Cure to Support Debt: The significant debt financing and resulting pro forma leverage in the PSKY offer create material closing uncertainty, particularly when compared to Netflix's investment grade credit rating and large positive free cash flow. PSKY has repeatedly stated that these concerns are not serious, noting the personal wealth of your lead equity sponsor and the credibility of your lending banks. To reflect your assurances, the draft agreements provide that in the event the transaction would not close due to the debt financing being unavailable, additional equity will be funded to enable closing to occurInterim Operating Covenants: The interim operating covenants should not require consent from PSKY in order for WBD to operate its business in the ordinary course between signing and closing.  The additional covenants you have proposed are not part of our agreement with Netflix, and are not accepted, as they further risk the certainty of closing.Equity Financing Certainty: Our changes to the PSKY equity documents reflect the need for absolute clarity as to funding obligations and certainty of funding at closing, or to pay damages if due.Equity Syndication: WBD will receive notice and full information regarding any equity syndication, and its consent will be required for any direct or indirect syndication that would require regulatory approvals or delay closing.The WBD Board has not determined that PSKY's proposal is reasonably likely to result in a transaction that is superior to the Netflix merger. There can be no assurance that a definitive transaction will result from WBD's discussions with PSKY. The WBD Board and management team remain resolute in their commitment to maximizing value for shareholders and continue to recommend shareholders vote FOR the merger with Netflix.WBD has commenced mailing its definitive proxy statement to shareholders in connection with the Special Meeting. WBD shareholders of record as of 5:00 p.m. Eastern Time on February 4, 2026 will be entitled to vote at the Special Meeting. Additional information regarding the Special Meeting can be found at VoteWBDNetflix.com.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com.Important Information about the Tender Offer and Where to Find It
WBD has filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer (the "tender offer") by a subsidiary of PSKY with the Securities and Exchange Commission (the "SEC").  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER.  Investors and security holders may obtain free copies of the solicitation/recommendation statement as well as other filings by WBD, without charge, at the SEC's website, https://www.sec.gov.  In addition, free copies of documents filed with the SEC by WBD will be made available free of charge on WBD's investor relations website at https://ir.wbd.com.Important Information about the Transaction and Where to Find It
This communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Netflix (the "proposed transaction").  In connection with the proposed transaction, WBD filed a definitive proxy statement (the "Proxy Statement") with the SEC.  The Proxy Statement was first mailed to WBD stockholders on or around February 17, 2026.  INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.  Investors and security holders may obtain free copies of the Proxy Statement as well as other filings containing information about WBD and Netflix, without charge, at the SEC's website, https://www.sec.gov.  Free copies of the Proxy Statement and each company's other filings with the SEC may also be obtained from the respective companies.  Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com.  Free copies of documents filed with the SEC by Netflix will be made available on Netflix's investor relations website at https://ir.netflix.net.Participants in the Solicitation
WBD and Netflix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction.  Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors."  Information about the directors and executive officers of Netflix is set forth in its definitive proxy statement filed with the SEC on April 17, 2025, under the headings "Our Board of Directors" and "Our Company Executive Officers."  Investors may obtain additional information regarding the interests of such participants by reading the Proxy Statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking Statements
Information set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Netflix, constitute forward-looking statements. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, statements about the tender offer and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Netflix and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) the final allocation of indebtedness between WBD and a newly formed subsidiary ("Discovery Global") in connection with the separation could cause a reduction to the consideration for the proposed transaction; (7) risks related to litigation brought in connection with the proposed transaction; (8) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (9) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (10) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (11) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (12) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; (13) the risk that Discovery Global, as a new company that currently has no credit rating, will not have access to the capital markets on acceptable terms; (14) the risk that Discovery Global may be unable to achieve some or all of the benefits that WBD expects Discovery Global to achieve as an independent, publicly-traded company; (15) the risk that Discovery Global may be more susceptible to market fluctuations and other adverse events than it would have otherwise been while still a part of WBD; (16) the risk that Discovery Global will incur significant indebtedness in connection with the separation, and the degree to which it will be leveraged following completion of the separation may materially and adversely affect its business, financial condition and results of operations; (17) the ability to obtain or consummate financing or refinancing related to the proposed transaction or the separation upon acceptable terms or at all; (18) volatility or a decline in the market price for Discovery Global common stock following the separation; (19) uncertainties as to how many WBD stockholders will tender their shares in the tender offer; (20) the conditions to the completion of the tender offer, including the receipt of any required stockholder and regulatory approvals; (21) PSKY's ability to finance the tender offer and the indebtedness PSKY expects to incur in connection with the tender offer; (22) the possibility that PSKY may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate WBD's operations with those of PSKY, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the tender offer; and (23) the response of WBD, Netflix or PSKY management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Netflix's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the Proxy Statement filed by WBD in connection with the proposed transaction. Neither WBD nor Netflix is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. 



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-sets-special-meeting-date-of-march-20-2026-and-unanimously-recommends-shareholders-vote-for-netflix-merger-warner-bros-discovery-to-initiate-discussions-with-paramount-skydance-for-their-best-and-final-o-302689237.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Sets Special Meeting Date of March 20, 2026, and Unanimously Recommends Shareholders Vote FOR Netflix Merger; Warner Bros. Discovery to Initiate Discussions with Paramount Skydance for Their Best and Final Offer

Holiday week brings fresh data, earnings and renewed U.S.–Iran talks to the fore: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 16, 2026 5:40 AM
IH Market News
Markets are heading into a shortened trading week packed with economic releases and major corporate earnings, while geopolitical developments between Washington and Tehran are keeping energy traders alert. Oil prices are holding in a narrow range ahead of new nuclear talks in Switzerland, Warner Bros. Discovery is reportedly reassessing a takeover proposal, and both gold and Bitcoin are under pressure.



U.S. markets shut for holiday



Wall Street is closed Monday for a public holiday, but investors are bracing for a busy schedule later in the week featuring key inflation data and high-profile earnings.On Friday, U.S. indices finished mixed. Traders weighed January inflation figures that showed price pressures easing more than expected, strengthening expectations that the Federal Reserve could bring forward its next rate cut to as early as June. Earlier in the week, however, a robust labor market report had fueled speculation that policymakers — who reduced rates several times in 2025 — might delay further easing until the second half of the year.The Nasdaq Composite remained under strain, reflecting persistent concerns about disruption in technology and communication services from the rapid development of new artificial intelligence models. Questions around competitive pressures and the timeline for returns on heavy AI infrastructure spending by mega-cap firms weighed on sentiment.Attention now shifts to Friday’s release of the U.S. personal consumption expenditures (PCE) price index for December, closely watched by Fed officials as a key inflation gauge. An advance estimate of fourth-quarter U.S. GDP is also due the same day.Earnings season continues, with results expected from companies including Walmart Inc. (NYSE:WMT), Palo Alto Networks (NASDAQ:PANW), Analog Devices (NASDAQ:ADI) and Booking Holdings (NASDAQ:BKNG).



Washington and Tehran to meet again



The U.S. and Iran are scheduled to hold a second round of nuclear negotiations in Switzerland this week, following renewed dialogue earlier in February.The diplomatic push comes alongside heightened tensions, with Washington deploying additional military assets to the Middle East and signaling readiness for further action should talks falter. President Donald Trump has repeatedly urged Tehran to accept an agreement or risk facing increased military pressure.Over the weekend, Iranian officials indicated a willingness to compromise on aspects of their nuclear program in exchange for relief from U.S. sanctions, adding that the next move rests with Washington.“[T]here is still a large risk premium priced into the market given the uncertainty over how the situation between the U.S. and Iran evolves,” analysts at ING said in a note.Oil markets were largely steady in European trading, with volumes dampened by holidays in China and the U.S. Weak Japanese growth data also raised concerns about global demand. Brent crude for April delivery was little changed at $67.72 per barrel.



Warner Bros. revisits takeover discussions – report



Separately, media reports suggest fresh developments in the ongoing takeover saga involving Warner Bros. Discovery (NASDAQ:WBD).According to Bloomberg, Warner Bros. is considering reopening negotiations with Paramount Skydance (NASDAQ:PSKY) after David Ellison’s group enhanced its hostile bid. Board members are reportedly evaluating whether Paramount’s proposal may be more attractive than an alternative offer from Netflix Inc. (NASDAQ:NFLX).Last week, Paramount pledged to increase the cash component payable to Warner Bros. shareholders for each quarter a deal remains unresolved in 2026 and to cover any penalties tied to breaking Warner’s current agreement with Netflix. However, the base offer of $30 per share was left unchanged.



Gold retreats



Gold prices slipped in European trading as the U.S. dollar stabilized following recent inflation data. Precious metals have been volatile in recent weeks, remaining below late-January highs.Spot gold declined 0.9% to $4,998.69 per ounce, while April gold futures fell 0.6% to $5,018.69. Although both gold and silver gained last week on dip-buying and dollar softness, geopolitical tensions have continued to support safe-haven demand.



Bitcoin extends slide



Bitcoin (COIN:BTCUSD) also moved lower, marking a fourth consecutive week of steep losses across cryptocurrency markets.The world’s largest digital asset retreated after briefly touching $70,000 over the weekend, falling 3.1% to $68,624.6. Bitcoin has now erased roughly half its value since reaching a record high near $126,000 in October.Meanwhile, Strategy (NASDAQ:MSTR), the largest corporate holder of Bitcoin, stated it could manage its debt obligations even if Bitcoin dropped as low as $8,000. In a social media post, the company said it can “withstand a drawdown in $BTC price to $8K and still have sufficient assets to fully cover our debt.”Strategy currently holds 714,644 Bitcoin, financed through a combination of equity issuance and long-term debt.Walmart stock pricePalo Alto stock priceAnalog Devices stock priceBooking Holdings stock priceWarner Brothers Discovery stock priceParamount Skydance stock priceNetflix stock price

Original: Holiday week brings fresh data, earnings and renewed U.S.–Iran talks to the fore: Dow Jones, S&P, Nasdaq, Wall Street Futures

PARAMOUNT+ SETS MARCH 6 NORTH AMERICAN PREMIERE FOR AWARD-WINNING DOCUMENTARY THE PINK PILL: SEX, DRUGS & WHO HAS CONTROLFebruary 12, 2026 8:30 AM
PR Newswire (US)

Directed By Award-Winning Montreal Filmmaker Aisling Chin-Yee, The Film Ignites A Global Conversation On Women's Health, Power, And Medical Equity Ahead Of International Women's Day Trailer for THE PINK PILL: SEX, DRUGS & WHO HAS CONTROL now available HERE
Link to Images HERE TORONTO, Feb. 12, 2026 /PRNewswire/ -- Paramount+ announced today that breakout documentary THE PINK PILL: SEX, DRUGS & WHO HAS CONTROL will premiere in Canada and the U.S. on March 6, ahead of International Women's Day (March 8). Celebrating powerful storytelling about women by women, the bold and boundary-pushing film examines the cultural, scientific, and political battle behind the first United States Food and Drug Administration (FDA) and Health Canada-approved treatment for women's sexual desire. 







At its center is Cindy Eckert, entrepreneur and women's health advocate, whose trademark pink and fearless determination made her a lightning rod in the battle to bring Addyi— which the media dubbed "female Viagra"—to market. Eckert confronted gender bias head-on, ultimately winning approval for the treatment of hypoactive sexual desire disorder (HSDD) in premenopausal women in 2015. This past December, the FDA expanded its approval to include postmenopausal women under 65. The Paramount+ Original THE PINK PILL is directed by award-winning Canadian filmmaker Aisling Chin-Yee (No Ordinary Man, The Rest of Us, Plan B) and produced by Catalyst and Everywoman Studios. Executive Producers are Julie Bristow (Catalyst), Abby Greensfelder (Everywoman Studios), Vibika Bianchi, Aisling Chin-Yee and Joanna Griffiths (Knix). Writers are Chin-Yee and Steve Taylor, who also serves as editor. Director of Photography is Nina Djacic. The film marks the first project from Docs for Change, a collaboration between Catalyst, the Toronto-based studio for woman-identifying creators, and Knix Fund, a philanthropic arm of the game-changing intimates brand Knix. "Medical sexism knows no borders," said Chin-Yee. "As a Canadian filmmaker, I had the opportunity to shine a rare spotlight on desire, the reclamation of pleasure, and bodily autonomy. This film confronts both cultural and institutional gender bias. My hope is that it sparks meaningful conversations and momentum around how our health is valued and prioritized.""THE PINK PILL: SEX, DRUGS & WHO HAS CONTROL" has already drawn widespread critical praise. DOC NYC, where the film premiered last fall, hailed it as "witty, urgent, and illuminating" and awarded the film the Audience Award, underscoring how deeply this subject matter resonates with audiences. The Alliance of Women Film Journalists called it "an engaging, educational documentary with a lot of interesting layers," while ArtsFuse noted that "the film's brazen, Barbie-ized motif sets it apart in the grey solemnity of documentaries." To date, the documentary has received coverage in The New York Times, People, ELLE, Fast Company, and more."Being a part of this film is exactly why I founded Knix 13 years ago – to connect with women from all different walks of life and start conversations that make an impact," said Griffiths. "We want our customers to know we are advocating for them, and we are thrilled to bring this project to the masses." About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information, please visit www.paramount.com.Follow @thepinkpillfilm on Instagram and visit www.thepinkpillfilm.com for the latest news, exclusive content and more. For more information about Paramount+, please visit www.paramountplus.com and follow @ParamountPlusCA on social media.@ThePinkPillFilm
@ParamountPlusCA 










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Original: PARAMOUNT+ SETS MARCH 6 NORTH AMERICAN PREMIERE FOR AWARD-WINNING DOCUMENTARY THE PINK PILL: SEX, DRUGS & WHO HAS CONTROL

Paramount and Mattel Announce Multi-Year Global Licensing Partnership for Teenage Mutant Ninja TurtlesFebruary 10, 2026 4:10 PM
PR Newswire (US)

Download Assets HereLOS ANGELES and EL SEGUNDO, Calif., Feb. 10, 2026 /PRNewswire/ -- Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company, and Mattel, Inc. (Nasdaq: MAT), a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world, today announced a global, multiyear licensing agreement to develop and market a wide range of products for the iconic Teenage Mutant Ninja Turtles brand.Beginning in 2027, action figures, playsets and accessories, vehicles, games, collectibles, role play and more are set to roll out across retailers. Through the agreement, Mattel will also produce new product lines for the animated movie sequel Teenage Mutant Ninja Turtles: Mutant Mayhem 2 for 2027, and a new untitled Teenage Mutant Ninja Turtles live-action/CG animation hybrid in 2028.Roberto Stanichi, EVP and Chief Global Brand Officer, Mattel said: "Teenage Mutant Ninja Turtles is one of the most successful entertainment franchises in history, and partnering with Paramount on this iconic property marks a significant moment for Mattel and the brand. The enduring power of the Turtles lies in their ability to evolve with each generation, and we are excited to bring these characters to life in new ways."Josh Silverman, President, Global Products & Experiences, Paramount said: "Teenage Mutant Ninja Turtles' rich history and timeless legacy have created a powerful connection with audiences around the world. Extending the world of Teenage Mutant Ninja Turtles through so many different touchpoints is something we deeply value as we continue expanding the ways people can interact with and celebrate the world of these beloved brothers. We are pleased to embark on this next chapter with Mattel, whose ability to innovate on a global scale positions us to further grow the brand and engage fans across generations."Since its creation in 1984 by Kevin Eastman and Peter Laird, Teenage Mutant Ninja Turtles has grown into a global phenomenon, spanning comic books, hit television series, blockbuster films, live experiences, digital games, publishing and a powerhouse consumer products line. Today, Teenage Mutant Ninja Turtles continues to dominate screens and shelves worldwide, generating billions in retail sales and inspiring generations of fans.This new licensing agreement builds upon the established relationship between Mattel and Paramount Products & Experiences, which spans brands and franchises in Paramount's vast library.About Mattel
Mattel is a leading global play and family entertainment company and owner of one of the most iconic brand portfolios in the world. We engage consumers and fans through our franchise brands, including Barbie®, Hot Wheels®, Fisher-Price®, American Girl®, Thomas & Friends™, UNO®, Masters of the Universe®, Matchbox®, Monster High®, Polly Pocket®, and Barney®, as well as other popular properties that we own or license in partnership with global entertainment companies. Our offerings include toys, content, consumer products, digital and live experiences. Our products are sold in collaboration with the world's leading retail and ecommerce companies. Since its founding in 1945, Mattel is proud to be a trusted partner in empowering generations to explore the wonder of childhood and reach their full potential. Visit us at mattel.com.About Paramount Products & Experiences
Paramount Products & Experiences oversees all licensing, merchandising, and location-based experiences for Paramount, a Skydance Corporation (Nasdaq: PSKY), a leading next generation global media and entertainment company. The division brings to life iconic franchises and beloved characters through innovative products and immersive experiences across categories including toys, apparel, publishing, food and beverage, theme parks, hotels, cruises, attractions, and live entertainment. Its global portfolio is powered by content from brands such as Nickelodeon, Paramount Pictures, CBS, MTV, Comedy Central, and Paramount+, and fan-favorite franchises like PAW Patrol, SpongeBob SquarePants, Teenage Mutant Ninja Turtles, Star Trek and Yellowstone. To explore our range of consumer products and Paramount-branded merchandise, visit ParamountShop.com.



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Original: Paramount and Mattel Announce Multi-Year Global Licensing Partnership for Teenage Mutant Ninja Turtles

Warner Bros. Discovery Confirms Receipt of Further Amended Unsolicited Tender Offer from Paramount SkydanceFebruary 10, 2026 12:25 PM
PR Newswire (US)

NEW YORK, Feb. 10, 2026 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or "WBD") (NASDAQ: WBD) today confirmed that it has received an amended, unsolicited tender offer from Paramount Skydance Corporation ("Paramount Skydance" or "PSKY") (NASDAQ: PSKY) to acquire all of the outstanding shares of WBD common stock (the "February 10 Amended Tender Offer").The WBD Board of Directors (the "Board"), consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and consider Paramount Skydance's offer in accordance with the terms of WBD's agreement with Netflix, Inc. ("Netflix") (the "Netflix Merger Agreement").The Board is not modifying its recommendation with respect to the Netflix Merger Agreement. WBD will review the amended tender offer and advise its stockholders of the Board's recommendation after the completion of that review.WBD stockholders are advised not to take any action at this time with respect to the amended Paramount Skydance tender offer.Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.About Warner Bros. Discovery:
Warner Bros. Discovery is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of branded content across television, film, streaming and gaming. Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit www.wbd.com. Important Information about the Tender Offer and Where to Find ItWBD has filed a solicitation/recommendation statement on Schedule 14D-9 with respect to the tender offer (the "tender offer") by a subsidiary of PSKY with the Securities and Exchange Commission (the "SEC"). INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE SOLICITATION/RECOMMENDATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS, WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER. Investors and security holders may obtain free copies of the solicitation/recommendation statement as well as other filings by WBD, without charge, at the SEC's website, https://www.sec.gov. In addition, free copies of documents filed with the SEC by WBD will be made available free of charge on WBD's investor relations website at https://ir.wbd.com. Important Information about the Transaction and Where to Find ItThis communication does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. This communication may be deemed to be solicitation material in respect of the proposed transaction between WBD and Netflix (the "proposed transaction"). In connection with the proposed transaction, WBD has filed a preliminary proxy statement with the SEC. The definitive proxy statement, when available, will be sent or given to WBD stockholders. WBD also intends to file a registration statement for a newly formed subsidiary ("Discovery Global"), which is contemplated to own certain assets and businesses of WBD not being acquired by Netflix in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE ADVISED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE PROXY STATEMENT, REGISTRATION STATEMENT AND ANY OTHER RELEVANT DOCUMENTS WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS. Investors and security holders may obtain free copies of the proxy statement and registration statement (when available) as well as other filings containing information about WBD and Netflix, without charge, at the SEC's website, https://www.sec.gov. Free copies of the proxy statement and registration statement, once available, and each company's other filings with the SEC may also be obtained from the respective companies. Free copies of documents filed with the SEC by WBD will be made available on WBD's investor relations website at https://ir.wbd.com. Free copies of documents filed with the SEC by Netflix will be made available on Netflix's investor relations website at https://ir.netflix.net. Participants in the SolicitationWBD and Netflix and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of WBD is set forth in its Annual Report on Form 10-K for the year ended December 31, 2024, under the heading "Executive Officers of Warner Bros. Discovery, Inc.," and its definitive proxy statement filed with the SEC on April 23, 2025, under the heading "Proposal 1: Election of Directors." Information about the directors and executive officers of Netflix is set forth in its definitive proxy statement filed with the SEC on April 17, 2025, under the headings "Our Board of Directors" and "Our Company Executive Officers." Investors may obtain additional information regarding the interests of such participants by reading the definitive proxy statement, registration statement and other relevant materials regarding the proposed transaction when they become available.Forward-Looking StatementsInformation set forth in this communication, including financial estimates and statements as to the expected timing, completion and effects of the proposed transaction between WBD and Netflix, constitute forward-looking statements. These estimates and statements are subject to risks and uncertainties, and actual results might differ materially. Such estimates and statements include, but are not limited to, statements about the benefits of the proposed transaction, including future financial and operating results, the combined company's plans, objectives, expectations and intentions, statements about the tender offer and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the management of WBD and Netflix and are subject to significant risks and uncertainties outside of our control.Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are the following: (1) the completion of the proposed transaction may not occur on the anticipated terms and timing or at all; (2) the occurrence of any event, change or other circumstances that could give rise to the termination of the proposed transaction; (3) the risk that WBD stockholders may not approve the proposed transaction; (4) the risk that the necessary regulatory approvals for the proposed transaction may not be obtained or may be obtained subject to conditions that are not anticipated; (5) risks that any of the closing conditions to the proposed transaction may not be satisfied in a timely manner; (6) the final allocation of indebtedness between WBD and Discovery Global in connection with the separation could cause a reduction to the consideration for the proposed transaction; (7) risks related to litigation brought in connection with the proposed transaction; (8) risks related to disruption of management time from ongoing business operations due to the proposed transaction; (9) effects of the announcement, pendency or completion of the proposed transaction on the ability of WBD to retain customers and retain and hire key personnel and maintain relationships with suppliers, distributors, advertisers, content providers, vendors and other business partners, and on its operating results and business generally; (10) negative effects of the announcement or the consummation of the proposed transaction on the market price of WBD common stock; (11) risks related to the potential impact of general economic, political and market factors on the companies or the proposed transaction; (12) inherent uncertainties involved in the estimates and assumptions used in the preparation of financial projections, and inherent uncertainties involved in the estimates and judgments used to estimate the differences between WBD's Global Linear Networks segment results and the expected results of Discovery Global; (13) the risk that Discovery Global, as a new company that currently has no credit rating, will not have access to the capital markets on acceptable terms; (14) the risk that Discovery Global may be unable to achieve some or all of the benefits that WBD expects Discovery Global to achieve as an independent, publicly-traded company; (15) the risk that Discovery Global may be more susceptible to market fluctuations and other adverse events than it would have otherwise been while still a part of WBD; (16) the risk that Discovery Global will incur significant indebtedness in connection with the separation, and the degree to which it will be leveraged following completion of the separation may materially and adversely affect its business, financial condition and results of operations; (17) the ability to obtain or consummate financing or refinancing related to the proposed transaction or the separation upon acceptable terms or at all; (18) volatility or a decline in the market price for Discovery Global common stock following the separation; (19) uncertainties as to how many WBD stockholders will tender their shares in the tender offer; (20) the conditions to the completion of the tender offer, including the receipt of any required stockholder and regulatory approvals; (21) PSKY's ability to finance the tender offer and the indebtedness PSKY expects to incur in connection with the tender offer; (22) the possibility that PSKY may be unable to achieve expected synergies and operating efficiencies within the expected timeframes or at all and to successfully integrate WBD's operations with those of PSKY, and the possibility that such integration may be more difficult, time-consuming or costly than expected or that operating costs and business disruption (including, without limitation, disruptions in relationships with employees, customers or suppliers) may be greater than expected in connection with the tender offer; and (23) the response of WBD, Netflix or PSKY management to any of the aforementioned factors. Discussions of additional risks and uncertainties are contained in WBD's and Netflix's filings with the SEC, including their Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, and the preliminary proxy statement filed by WBD in connection with the proposed transaction and will be contained in the registration statement to be filed by Discovery Global in connection with the separation. Neither WBD nor Netflix is under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise, except to the extent required by applicable law. Persons reading this announcement are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof.



View original content:https://www.prnewswire.com/news-releases/warner-bros-discovery-confirms-receipt-of-further-amended-unsolicited-tender-offer-from-paramount-skydance-302684090.htmlSOURCE Warner Bros. Discovery, Inc.

Original: Warner Bros. Discovery Confirms Receipt of Further Amended Unsolicited Tender Offer from Paramount Skydance

Paramount to Report Fourth Quarter and Full Year 2025 Financial Results on February 25, 2026February 4, 2026 4:05 PM
PR Newswire (US)

LOS ANGELES and NEW YORK, Feb. 4, 2026 /PRNewswire/ -- Paramount Skydance Corporation (Nasdaq: PSKY) announced today that it will report fourth quarter and full year 2025 financial results on Wednesday, February 25, 2026. The company will conduct a conference call following the release of its earnings materials, with a live audio webcast available on Paramount's Investors homepage at ir.paramount.com beginning at 1:45 p.m. (PT) / 4:45 p.m. (ET).The conference call can also be accessed by dialing 833-470-1428 (domestic) or 646-844-6383 (international) using access code 066122. Please call five minutes in advance to ensure that you are connected prior to the call.An audio replay of the call will be available on February 25 in the Events and Webcasts section of Paramount's Investors homepage, and at 866-813-9403 (domestic) or 929-458-6194 (international) using access code 105727.The earnings release and any other information related to the call will be accessible on Paramount's Investors homepage.To automatically receive Paramount's latest financial news by email, please visit the Investors homepage and subscribe to email alerts.About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information please visit www.paramount.com.PSKY-IR



View original content:https://www.prnewswire.com/news-releases/paramount-to-report-fourth-quarter-and-full-year-2025-financial-results-on-february-25-2026-302679400.htmlSOURCE Paramount Skydance Corporation

Original: Paramount to Report Fourth Quarter and Full Year 2025 Financial Results on February 25, 2026

$PSKY Total Debt (mrq) $15.51B

$PSKY CBS News: Around 100 staffers were laid off, including the entire team behind CBS Saturday Morning. Anchors Dana Jacobson and Michelle Miller, along with executive producer Brian Applegate, were among those affected.

I sold it all at 17. I’m back in again.WOOHOOOOOOO

$WOOHOOOOOOOOOOOOOOOO$

Paramount pump..$14.52 +'32%

wouldnt be surprised if these are insider buys( not reported yet) and whispers are reaching shorties?? Larry E prob buying $50-100mm in open mkt( current ownership roughly >30%....son david owns roughly 76mm shares ( 633mm outstanding)

TKO PSKY WOOHOOOOOOOOOOO ☝️🥳☝️

About Paramount, a Skydance Corporation

Paramount, a Skydance Corporation (Nasdaq: PSKY) is a leading, next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. The Company's portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS – America's most-watched broadcast network, CBS News, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance's Animation, Film, Television, Interactive/Games, and Sports divisions. For more information please visit https://www.paramount.com/

Paramount Press

Skydance Media and Paramount Global Complete Merger, Creating Next Generation Media Company

Aug. 7, 2025
https://www.paramount.com/press/skydance-media-and-paramount-global-complete-merger-creating-next-generation-media-company

https://www.paramount.com/