• Paramount Skydance launched cash tender offers for certain Discovery Global Holdings and Discovery Communications Senior Notes, tied to its proposed acquisition of Warner Bros. Discovery.
• It also opened exchange offers for other WBD Issuer Senior Notes into newly issued New PSKY Notes, typically on a $1,000-for-$1,000 or €1,000-for-€1,000 basis, with several series resetting to second-lien secured coupons.
• Participation requires holders to deliver consents in parallel consent solicitations, with settlement conditioned on the acquisition closing, expected in Q3 2026.
• The tender and exchange offers expire June 17, 2026.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Paramount Skydance Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-063952), on May 19, 2026, and is solely responsible for the information contained therein.