PSKY Paramount Skydance Corp
Price Chart
Executive Summary
Paramount Skydance Corporation (PSKY) has filed a definitive agreement to acquire Warner Bros. Discovery (WBD) for $31 per share in cash, valuing WBD at $81 billion in equity and $110 billion in enterprise value. The transaction, funded by $47 billion in equity from the Ellison Family and RedBird Capital Partners and $54 billion in debt, is expected to close in Q3 2026 and is anticipated to create a combined media powerhouse with over 200 million direct-to-consumer subscribers.
Actionable Insight
Traders should monitor the regulatory approval process in international jurisdictions and the upcoming shareholder vote, as these are key milestones for the deal's completion. The significant projected synergies of $6 billion within three years and the strong pro forma financials suggest a potentially transformative impact on the media landscape.
Key Facts
- Paramount Skydance is acquiring Warner Bros. Discovery for $31 per share in cash.
- The deal values WBD at $81 billion in equity and $110 billion in enterprise value.
- The transaction is funded by $47 billion in equity and $54 billion in debt.
- The merger is expected to close in the third quarter of 2026.
- The combined company is projected to have $69 billion in estimated 2026 pro forma revenue and $18 billion in EBITDA.
- The deal has been unanimously approved by the boards of both companies.
- Regulatory clearance under the Hart-Scott-Rodino Act has already been obtained in the U.S.
Financial Impact
$81 billion equity value, $110 billion enterprise value, $69 billion pro forma revenue, $18 billion EBITDA
Risk Factors
- Regulatory approvals in international jurisdictions may pose a risk to the closing timeline.
- The deal is subject to approval by WBD shareholders, which is not guaranteed.
- The significant debt load of $79 billion in net debt at closing could impact the combined company's financial flexibility.
Market Snapshot
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DFAN14A Filing (Primary) | 0001104659-26-022323 |
| Document: 0001104659-26-022323-index-headers.html | 0001104659-26-022323 |
| Document: 0001104659-26-022323-index.html | 0001104659-26-022323 |
| Document: 0001104659-26-022323.txt | 0001104659-26-022323 |
Filters
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May 19, 2026
1d ago
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8-K
| $9.89 awaiting T+20 | awaiting T+20 | — | $10.30 (+4.10%) |
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May 13, 2026
7d ago
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8-K
| — | awaiting T+20 | — | — |
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Apr 9, 2026
6w ago
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8-K
| $10.85 $10.91 | ▲ +0.55% | ▼ −7.01% | $10.30 (−5.12%) |
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Apr 8, 2026
6w ago
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8-K
| $10.85 $10.91 | ▲ +0.55% | ▼ −7.01% | $10.30 (−5.12%) |
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Apr 7, 2026
6w ago
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8-K
| $10.90 $11.13 | ▲ +2.11% | ▼ −7.67% | $10.30 (−5.55%) |
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Mar 2, 2026
11w ago
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DFAN14A
| $12.39 $9.02 | ▼ −27.18% | ▼ −22.77% | $10.30 (−16.88%) |
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Mar 2, 2026
11w ago
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DFAN14A
| $12.39 $9.02 | ▼ −27.18% | ▼ −22.77% | $10.30 (−16.88%) |
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Mar 2, 2026
11w ago
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DFAN14A
| $12.39 $9.02 | ▼ −27.18% | ▼ −22.77% | $10.30 (−16.88%) |
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Mar 2, 2026
11w ago
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DFAN14A
| $13.27 $8.92 | ▼ −32.79% | ▼ −24.85% | $10.30 (−22.43%) |
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Feb 25, 2026
12w ago
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DFAN14A
| $10.11 $9.23 | ▼ −8.68% | ▼ −3.45% | $10.30 (+1.85%) |
US Market Status
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