PSKY

LOS ANGELES and NEW YORK, Aug. 7, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the "Tender Offers" and each, a "Tender Offer") for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the "Offer to Purchase"), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the "DGH Issuer") and Discovery Communications, LLC (the "DCL Issuer" and together with the DGH Issuer, each a "WBD Issuer" and collectively the "WBD Issuers"), as applicable, and (ii) offers to exchange (the "Exchange Offers" and each, an "Exchange Offer" and, together with the Tender Offers, the "Offers" and each, an "Offer"), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the "Offering Memorandum"), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the "Offer Notes") issued by the applicable WBD Issuer for notes to be newly issued by Paramount. The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m.

Paramount Skydance NASDAQ: PSKY said its second-quarter performance reflected progress in its efforts to expand streaming, rebuild its studios business and reduce costs, while management reaffirmed confidence in the company's proposed combination with Warner Bros. Discovery.

A federal court temporarily paused an order requiring the Donald J. Trump Revocable Trust to produce tax returns, financial statements and ownership records covering roughly 400 entities.

Paramount's assurances for editorial independence from its news networks come after CEO David Ellison wrote in an op-ed for The New York Times that scrutiny of his firm's deal for Warner Bros. had focused on “whether I can be trusted as a steward of Warner's CNN.

"We have cleared this deal as it does not raise competition concerns in the UK. The evidence shows that, after the merger, Paramount will continue to face sufficient competition in the various areas it operates in," the Competition and Markets Authority said in a statement.

The deal still faces substantial legal challenges in the U.S., where state attorneys general have sued to block the purchase.

LOS ANGELES and NEW YORK, Aug. 6, 2026 /PRNewswire/ -- The United Kingdom Competition and Markets Authority has today formally cleared the acquisition of Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD") by Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount"), representing an important milestone in completing the transaction.

Warner Bros. Discovery narrowed its profit in the second quarter, hurt by a large charge, as revenue fell.

PSKY beats Q2 earnings and revenue estimates as DTC strength, a Studios turnaround and cost discipline offset TV Media weakness, with a solid Q3 outlook.

Paramount's streaming service continued to grow in the latest quarter, helping to narrowly offset another sales decline for its television unit.