secwatch.observer — SEC 8-K summary
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Issuer:     Paramount Skydance Corp (PSKY)
CIK:        0002041610
Form:       8-K
Filed at:   2026-04-07T23:59:59+00:00
Accession:  0001104659-26-040178
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 3.02, 8.01, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Paramount Skydance advances WBD acquisition; equity syndication with sovereign funds, warrant dividend to shareholders
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- Acquiring Warner Bros. Discovery for $31/share in cash, with Ellison Guarantee covering up to $45.72B equity funding.
- PIPE $46.72B from Ellison parties & $250M from RedBird syndicated to PIF, L'Imad, QIA, LionTree.
- Rights offering cancelled; each Class B holder gets one warrant per share (10-year term, exercise price = Syndication Purchase Price, $12–$16.02 floor/ceiling).
- Charter amendment authorized: Class B shares increased to 7B, dividends on Class B allowed with Class A consent.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926040178/0001104659-26-040178-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2041610/000110465926040178/tm2611206d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-040178

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer