PSKY Prices $41.4B Notes, Settles with 12 State AGs, Names Ellison Co-CEO
PSKY sits 37% above its 52-week low of $7.62 on elevated volume (2.1× avg).
Summary
Paramount Skydance priced its multi-tranche financing for the Warner Bros. Discovery acquisition: $41.4B senior notes, an $8.5B Term Loan B, and euro tranches at SOFR+2.75%. The company also settled with 12 state attorneys general, agreeing to release 30+ theatrical films annually and establish editorial independence boards for owned news outlets. David Ellison will join Ynon Kreiz as co-CEO after the merger closes, filling the vacancy left by Jeff Shell's April exit. The merger is expected to complete on October 6, following the September 30 consent decree. This resolves the last major antitrust hurdles and locks in permanent financing, clearing the path to close.
At the time of this announcement, PSKY was trading at $10.41 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $11.6B. The 52-week trading range was $7.62 to $20.09. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Wiseek News.