Paramount Skydance Corporation announced its intention to offer approximately $44.4 billion in senior secured notes to finance its previously announced acquisition of Warner Bros. Discovery, Inc. (WBD). The offering, subject to market and other conditions, is part of the permanent financing for the transaction.
Key Details
- Offering: The company plans to issue approximately $44.4 billion in aggregate principal amount of U.S. dollar-denominated senior secured first lien notes and U.S. dollar- and euro-denominated senior secured second lien notes.
- Use of Proceeds: Net proceeds will be used to finance the purchase price for the WBD acquisition and to repay certain existing debt.
- Acquisition Context: This financing is in connection with the merger agreement entered into on February 27, 2026, under which Paramount Skydance will acquire WBD, making it a wholly owned subsidiary.