Paramount Skydance Extends Tender, Exchange Offers to July 1 After 11%–16% Tendered
PSKY•Paramount Skydance Corporation extended the expiration dates for its cash tender and exchange offers on Discovery Global Holdings and Discovery Communications notes to 5:00 p.m. New York City time on July 1, 2026. As of June 11, only 11.12% of tender notes and 16.30% of exchange notes have been validly tendered, with settlements anticipated in Q3 2026 around the planned Warner Bros. Discovery acquisition.
1. Extension Details
Paramount Skydance Corporation officially pushed the expiration of its previously announced cash tender and exchange offers for notes issued by Discovery Global Holdings and Discovery Communications to 5:00 p.m. New York City time on July 1, 2026. The company indicated it may further extend these deadlines to align settlement with the closing date of its planned acquisition of Warner Bros. Discovery.
2. Tender Participation Rates
By the June 11 cutoff, approximately 11.12% of the aggregate principal amount of tender offer notes and 16.30% of exchange offer notes had been validly tendered, well below full participation. Paramount noted these figures are preliminary and not indicative of final results, as holders may withdraw tenders until the new expiration date.
3. Acquisition Timeline Alignment
Settlement of both the tender and exchange offers is currently anticipated in Q3 2026, coinciding with Paramount’s targeted closing of the Warner Bros. Discovery acquisition. Aligning these settlements with the acquisition closing aims to streamline the integration of the newly issued Paramount notes with the combined company’s debt structure.
