Oct 13, 8:21 AM ET
Skydance Corporation issued $11,983,970,000 in U.S. dollar second lien notes and EUR 546,547,000 in euro second lien notes on October 9, 2026, in exchange for existing notes issued by its WBD subsidiaries. The notes are secured by second-priority liens on substantially all personal property and rank junior to the company's credit facilities and first lien notes, so the exchange adds secured debt that sits ahead of unsecured obligations.
- Dollar notes totaled $11,983,970,000 across 12 series, with maturities from 2029 to 2052; euro notes totaled 546,547,000 euros across 2030 and 2033 series.
- As of the October 6, 2026 expiration date, about 99.15% of the existing exchange offer notes were validly tendered, and about 98.83% of the existing tender offer notes were tendered for cash.
- The notes are junior in lien priority to the company's credit facilities and first lien senior secured notes, and liens are released for a series if an Investment Grade Event occurs and the company has no more than $250,000,000 of term B lo
- The filing also describes a warrant distribution with an issue date of October 13, 2026, and NYSE ticker SKYD WS, for holders of Class B common stock as of the October 5, 2026 record date.
Read the filing on SEC.gov ↗
Oct 6, 5:14 PM ET
Skydance Corporation appointed Robert A. Kotick, former CEO of Activision Blizzard, and Laurene Powell Jobs, founder and president of Emerson Collective, as directors, with both appointments effective at the closing of its previously disclosed merger with Warner Bros. Discovery. The filing describes board appointments and standard director pay terms, with no financial results or deal terms changed, so the direct effect on shareholders is limited to board composition once the merger closes.
- Robert A. Kotick, age 63, appointed to the board October 4, 2026, and will serve on the Nominating and Governance Committee
- Laurene Powell Jobs, age 62, appointed to the board October 5, 2026
- Both appointments are effective at the closing of the merger under the February 27, 2026 agreement with Warner Bros. Discovery, Inc.
- Both directors are eligible for the Non-Employee Director Compensation Program and have signed the standard indemnification agreement
Read the filing on SEC.gov ↗
Oct 6, 9:08 AM ET
Skydance Corporation, formerly Paramount Skydance, completed its acquisition of Warner Bros. Discovery on October 6, 2026, and began trading as SKYD on the NYSE under the new name. The company issued $41.4 billion of senior secured notes on October 5 to help finance the deal, and the filing estimates total cash consideration to WBD shareholders at $78.0 billion, so the transaction adds substantial debt and share issuance for existing shareholders.
- WBD shareholders receive $31.00 per share in cash plus ticking consideration; the press release cites $31.01666668 per share
- Company issued $41.4 billion of senior secured notes on October 5, 2026, including $30.0 billion first lien and $11.4 billion second lien dollar notes plus €885 million euro notes
- Equity investors bought about 3,918 million new Class B shares at $12.00 per share
- Management targets at least $6 billion in run-rate synergies within three years and net leverage of 3.0x by the end of 2029
Read the filing on SEC.gov ↗
Oct 1, 4:06 PM ET
Paramount Skydance appointed Ynon Kreiz, Mattel's Chairman and CEO, as Co-Chief Executive Officer and a board member, effective October 5, 2026, and the company says he will oversee day-to-day operations and integration of the combined businesses after its pending Warner Bros. Discovery merger. The filing also sets out his pay, equity awards and severance terms, and the merger is expected to close on October 6, 2026.
- Base salary of at least $3,500,000, rising to $5,000,000 after the Warner Bros. Discovery closing; target bonus of $1,500,000, rising to $4,900,000.
- Signing award of 2,625,000 fully vested RSUs and pre-closing award of 1,250,000 RSUs covering Class B common stock.
- Annual equity awards of $15,000,000, rising to $20,100,000 after the Warner Bros. Discovery closing.
- Qualifying termination severance equal to two times base salary plus target bonus, paid over 24 months. Expected Warner Bros. Discovery closing date is October 6, 2026, with WBD holders to receive $31.01666668 per share in cash if closing o
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.