Paramount Skydance Corporation Enters into New Financing Agreements and Executive Separation

Paramount Skydance Corporation (PSKY) has entered into new financing arrangements to support its pending acquisition of Warner Bros. Discovery, Inc. (WBD). This includes a new $10 billion Pro Rata Credit Agreement, comprising a $5 billion Term A loan facility and a $5 billion revolving credit facility. Concurrently, PSKY amended its existing senior unsecured revolving credit facility to increase its liquidity from $3.5 billion to $5.0 billion. These transactions have led to a reduction in the previously disclosed bridge facility commitments. The new credit facilities are secured by substantially all assets of PSKY and its U.S. subsidiaries, with provisions for becoming unsecured upon achieving certain credit ratings. Additionally, PSKY announced the separation of Jeffrey Shell, President and Board member, effective April 8, 2026. Mr. Shell will receive severance pay, accelerated vesting of RSUs, and continued health benefits, subject to compliance with the separation agreement and restrictive covenants. The report also includes a cautionary note regarding forward-looking statements related to the acquisition and financing.