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AI brief of an SEC Form 8-K · Skydance (SKYD)

Paramount Skydance agrees to buy Warner Bros. Discovery for $31 per share in cash

Mixed Impact 5 of 5 m&a Written later

Paramount Skydance Corporation (NASDAQ: PSKY) signed a merger agreement on February 27, 2026 to acquire Warner Bros. Discovery (WBD), with WBD becoming a wholly owned subsidiary. The filing values WBD at $81 billion in equity value and $110 billion in enterprise value, and the deal is backed by $47 billion of new equity and $54 billion of debt commitments, so it carries large financing and share issuance for Paramount shareholders. The filer is named in the filing as Paramount Skydance Corporation (PSKY), not Skydance Corp (SKYD) as the request stated.

Key points

  • WBD common stockholders would receive $31.00 in cash per share, plus a ticking consideration if closing occurs after September 30, 2026
  • Paramount plans to issue $47 billion of new Class B shares at $16.02 per share, backed by the Ellison Family and RedBird Capital Partners
  • The deal is backed by $54 billion of debt commitments from Bank of America, Citigroup, and Apollo
  • Closing is expected in Q3 2026, subject to regulatory clearances and approval by WBD shareholders

The filing

CompanySkydance (SKYD)
Form8-K, current report
Filed with the SECMar 2, 2026, 7:50 AM ET
Accession number0001104659-26-021911

Items reported: 1.01 Material Definitive Agreement7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 02, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.