Paramount Skydance Extends Debt Exchange Offers Amid WBD Acquisition
Paramount Skydance Corporation has pushed back the expiration dates for its ongoing debt tender and exchange offers to October 6, 2026. The move aligns the company's financial restructuring with the anticipated closing timeline of its proposed acquisition of Warner Bros. Discovery, Inc.
The company extended the deadline for the second time in recent weeks, moving the cutoff to 5:00 p.m. New York City time. Settlement dates for the notes are now projected to occur in the fourth quarter of 2026, contingent upon the completion of the WBD deal. As of September 25, 2026, roughly 67.33% of the tender offer notes and 74.88% of the exchange offer notes had been submitted, though management views these figures as preliminary given the ongoing nature of the process.
In addition to the timeline shift, Paramount Skydance modified the terms of its new notes to align with upcoming senior secured second-lien debt offerings. The company emphasized that these adjustments remain subject to market conditions. While the exchange offers target specific debt held by Discovery Global Holdings and Discovery Communications, the company confirmed that the process is managed independently of WBD. Holders of the notes retain the right to withdraw their tenders at any point before the new October deadline.
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