Paramount Skydance Extends Debt Exchange Offers Amid WBD Acquisition

The extensions apply to cash tender offers for notes issued by Discovery Global Holdings and Discovery Communications, as well as exchange offers for new Paramount-issued debt. While approximately 66% of the tender offer notes and 76% of the exchange offer notes had been validly submitted by July 30, management maintains that these figures are not indicative of final results. The company intends to keep the offers open until the anticipated closing of the Warner Bros. Discovery acquisition, which remains subject to regulatory conditions.

Paramount has clarified that these moves are independent actions, allowing the company to amend or terminate individual offers at its discretion. Global Bondholder Services Corporation continues to serve as the exchange and information agent, with BofA Securities and Citigroup acting as dealer managers. Holders of the affected notes must now decide whether to participate by the new August 14 deadline, as no formal recommendations have been issued by the involved parties regarding the merits of the exchange.