---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-111174"
form_type: "8-K"
ticker: "PSKY"
cik: "0002041610"
company_name: "Paramount Skydance Corp"
filed_at: "2026-09-28T12:19:48+00:00"
generated_at: "2026-10-12T13:31:28.746164+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Paramount Skydance launches $44.4B note offerings to fund $78B Warner Bros. Discovery acquisition

## Summary
- Paramount Skydance intends to offer approx. $44.4B of USD senior secured first lien and USD/euro senior secured second lien notes; proceeds fund the WBD purchase and repay existing debt.
- WBD holders get $31.00/share cash plus Ticking Consideration of $0.00277778/day after Sept 30, 2026, capped at $0.25 per 90 days; total consideration estimated at $78.0B.
- Merger agreement signed Feb 27, 2026; pro forma assumes an Oct 6, 2026 close, with about $1.1B more for vested WBD equity awards.
- Equity package: up to $46.7B from Lawrence J. Ellison Revocable Trust affiliates plus $250M from RedBird Capital Fund IV; PIPE priced at 20-day VWAP, floor $12.00, ceiling $16.02 per share.
- Equity syndication allocated across affiliates of the Equity Investors, The Public Investment Fund, Abu Dhabi's L'Imad 1st SPV 2, Qatar's QIA TMT Holding and LionTree Investment Fund.

## SEC filing metadata
- accession: 0001104659-26-111174
- form_type: 8-K
- ticker: PSKY
- cik: 0002041610
- company_name: Paramount Skydance Corp
- filed_at: 2026-09-28T12:19:48+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2041610/000110465926111174/0001104659-26-111174-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2041610/000110465926111174/tm2610616d13_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-111174
- JSON: https://secwatch.observer/filing/0001104659-26-111174.json
- Plain text: https://secwatch.observer/filing/0001104659-26-111174.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.