Paramount Skydance (PSKY) Company Report

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Q3 2025

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Recent press releases and 8-K filings for PSKY.

Paramount Skydance's Proposal for Warner Bros. Discovery Deemed Superior

PSKY

M&A

Takeover Bid

Paramount Skydance Corporation's (PSKY) $31 per share, all-cash proposal to acquire Warner Bros. Discovery, Inc. (WBD) has been determined by WBD's Board of Directors as a "Company Superior Proposal".
Paramount will cover the $2.8 billion termination fee WBD is required to pay Netflix and eliminate WBD's potential $1.5 billion financing cost.
The proposal is backed by a $45.7 billion equity commitment from the Ellison Trust and a $57.5 billion debt commitment from Bank of America Merrill Lynch, Citi, and Apollo.
A regulatory termination fee of $7 billion would be payable if the transaction does not close due to regulatory matters.
The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Paramount's acquisition of WBD expired on February 19, 2026.

1 day ago

Press Release

Paramount Skydance Submits Revised Acquisition Proposal for Warner Bros. Discovery

PSKY

M&A

Takeover Bid

Paramount Skydance (PSKY) has submitted a revised proposal to acquire all outstanding shares of Warner Bros. Discovery (WBD) common stock.
The Warner Bros. Discovery Board is currently reviewing the revised PSKY proposal with its financial and legal advisors.
The Netflix merger agreement remains in effect, and the WBD Board continues to recommend the Netflix transaction to its shareholders.
WBD shareholders are advised not to take any action at this time with respect to the amended PSKY tender offer.

4 days ago

Press Release

Paramount Skydance enhances all-cash offer for Warner Bros. Discovery

PSKY

M&A

Takeover Bid

Debt Issuance

Paramount Skydance Corporation (PSKY) has amended its all-cash tender offer to acquire Warner Bros. Discovery, Inc. (WBD) for $30 per share.
The enhanced offer includes a $0.25 per share "ticking fee" payable to WBD shareholders for each quarter the transaction is not closed beyond December 31, 2026, and Paramount will fund the $2.8 billion termination fee payable to Netflix.
Paramount also committed to eliminate WBD's potential $1.5 billion financing cost associated with its debt exchange offer.
The offer is fully financed by $43.6 billion in equity commitments and $54.0 billion in debt commitments.
Paramount has made regulatory progress, including complying with the DOJ's Second Request for Information on February 9, 2026, and securing clearance from German foreign investment authorities on January 27, 2026.

Feb 10, 2026, 2:18 PM

8-K

Paramount Skydance Enhances Offer for Warner Bros. Discovery and Updates on Regulatory Progress

PSKY

M&A

Takeover Bid

New Projects/Investments

Paramount Skydance (PSKY) has amended its $30 per share, all-cash tender offer to acquire Warner Bros. Discovery (WBD), presenting it as superior to Netflix's offer.
The enhanced offer includes a $0.25 per share "ticking fee" payable to WBD shareholders for each quarter the transaction is not closed beyond December 31, 2026, and Paramount will fund the $2.8 billion termination fee due to Netflix.
Paramount's offer is fully financed with $43.6 billion in equity and $54.0 billion in debt commitments, and the company has made progress in regulatory clearances, including complying with the DOJ's Second Request for Information on February 9, 2026, and securing German foreign investment authority clearance on January 27, 2026.

Feb 10, 2026, 2:00 PM

Press Release

Paramount Skydance Files Proxy Materials and Extends Tender Offer for WBD

PSKY

M&A

Takeover Bid

Proxy Vote Outcomes

Paramount Skydance Corporation (PSKY) has filed preliminary proxy materials to solicit Warner Bros. Discovery (WBD) shareholders to vote against the amended Netflix merger agreement and related proposals at WBD's special meeting.
Paramount has extended its all-cash tender offer of $30 per share for WBD to February 20, 2026, reaffirming its commitment to a transaction with WBD at a $108.4 billion enterprise value.
Paramount asserts that the Netflix transaction, which would provide WBD shareholders with $27.75 per share (potentially less), remains inferior and faces severe regulatory risk due to market concentration, unlike a combination with Paramount.
As of January 21, 2026, 168,511,695 shares had been validly tendered and not withdrawn from Paramount's tender offer.

Jan 22, 2026, 1:12 PM

8-K

Paramount Skydance Files Proxy Materials and Extends Tender Offer for WBD

PSKY

M&A

Takeover Bid

Proxy Vote Outcomes

Paramount Skydance (PSKY) has filed preliminary proxy materials with the SEC to solicit Warner Bros. Discovery (WBD) shareholders to vote against the amended Netflix transaction and related proposals.
Paramount has extended its $30 per share all-cash tender offer for WBD to February 20, 2026, reaffirming its commitment to a transaction with a $108.4 billion enterprise value.
Paramount states its offer is significantly greater and more certain than the purported $82.7 billion enterprise value of the Netflix transaction, which would provide WBD shareholders with $27.75 per share in cash, or less.
Paramount also argues that the Netflix transaction faces severe regulatory risk due to market concentration, in contrast to a combination with Paramount that it believes enhances competition.
As of January 21, 2026, 168,511,695 shares had been validly tendered and not withdrawn from Paramount's tender offer.

Jan 22, 2026, 1:05 PM

Press Release

Paramount Reiterates Superiority of $30.00 All-Cash Offer for Warner Bros. Discovery

PSKY

M&A

Takeover Bid

Paramount, a Skydance Corporation, sent a letter to Warner Bros. Discovery (WBD) shareholders, reiterating its $30.00 per share all-cash offer to acquire WBD, which it states is superior to WBD's transaction with Netflix.
Paramount claims Netflix's offer provides WBD shareholders with lower value, less cash, and significantly less certainty, estimating Netflix's total headline value at $28.75 per share.
Paramount has secured $41 billion of new equity and $54 billion of debt commitments to finance its all-cash offer, which is not subject to financing conditions.
Paramount encourages WBD shareholders to tender their shares, with the offer scheduled to expire on January 8, 2026, to register their preference for Paramount's proposal.

Dec 10, 2025, 9:05 PM

Press Release

Paramount Skydance Corp (PSKY) Announces Q3 2025 Results and 2026 Outlook

PSKY

Guidance Update

Layoffs

Earnings

Paramount Skydance Corp (PSKY) forecasts total revenue of $30 billion and adjusted OIBDA of $3.5 billion for 2026, anticipating its direct-to-consumer (DTC) business to be profitable in 2025 with growth in profitability in 2026.
The company is targeting at least $3 billion in run-rate efficiencies by the end of 2027, an increase of $1 billion over its original target, with $1.4 billion executed by the end of 2025 and an additional $1 billion+ planned for 2026. This includes a workforce reduction impacting approximately 1,000 employees at the end of October 2025.
For Q3 2025, pro forma total revenue was $6.7 billion, flat year-over-year, driven by a 17% increase in DTC revenue and a 24% increase in Paramount+ revenue.
Strategic initiatives include increasing theatrical output to at least 15 films annually starting in 2026, securing long-term media rights with the UFC, and implementing Paramount+ price increases in early Q1 2026 in the US, Canada, and Australia.
PSKY ended Q3 2025 with $3.3 billion in cash and $13.6 billion in gross debt, aiming to achieve investment grade debt metrics by the end of 2027.

Nov 10, 2025, 9:03 PM

8-K

Paramount and UFC Expand Media Rights Partnership

PSKY

New Projects/Investments

Paramount, a Skydance Corporation (PSKY), and UFC announced a seven-year, multi-territory expansion of their media rights partnership, securing UFC media rights for Paramount+ across Latin America and Australia starting in 2026.
This agreement expands upon a landmark seven-year media rights partnership announced in August, making Paramount+ the exclusive home of all UFC events in the U.S. starting in 2026.
For Latin America, Paramount+ subscribers will have access to all 13 marquee numbered events and 30 UFC Fight Nights televised live at no additional cost.
In Australia, Paramount+ will offer all 30 UFC Fight Nights and the prelims for all marquee UFC numbered events.

Oct 28, 2025, 11:00 AM

Press Release

Paramount announces media rights agreement with Zuffa Boxing

PSKY

New Projects/Investments

Product Launch

Paramount (PSKY) and TKO Group Holdings (TKO) have announced a long-term media rights agreement for Zuffa Boxing.
Beginning in January 2026, Paramount+ will be the exclusive home of Zuffa Boxing events throughout the U.S., Canada, and Latin America, starting with 12 action-packed cards annually.
Zuffa Boxing is a new professional boxing promotion formed by TKO and Sela, with leadership including UFC President and CEO Dana White and WWE President and TKO Board Member Nick Khan.