Skydance Corporation announced the completion of its acquisition of Warner Bros. Discovery, Inc. (WBD) on October 6, 2026. Following the merger, the company distributed warrants to its Class B stockholders and settled significant debt exchange and tender offers related to outstanding WBD subsidiary notes.
Key Details
- Warrant Distribution: On October 13, 2026, Skydance issued 470,746,773 warrants to stockholders of record as of October 5, 2026. Each warrant allows the purchase of one share of Class B Common Stock at an initial exercise price of $12.00 and has a 10-year term. The warrants will trade on the NYSE under the symbol "SKYD WS."
- Debt Exchange Settlement: The company settled exchange offers for WBD subsidiary notes on October 9, 2026, issuing an aggregate of $11.98 billion and €546.5 million in new Senior Secured Second Lien Notes in exchange for the tendered notes.
- Debt Tender Offer Settlement: Concurrently, Skydance settled cash tender offers, purchasing approximately $2.40 billion in aggregate principal amount of other WBD subsidiary notes for a total cash payment of approximately $2.38 billion.