Paramount and Warner Bros. Discovery Set Merger Closing Date for October 6, 2026

NEW YORK, Sept. 30, 2026 /CourierPR/ -- Paramount, a Skydance Corporation, and Warner Bros. Discovery have announced that the anticipated closing date for the merger is October 6, 2026. This merger, as detailed in the Agreement and Plan of Merger dated February 27, 2026, is expected to bring together two leading global media and entertainment companies.

Under the terms of the merger, each share of Warner Bros. Discovery common stock, issued and outstanding prior to the closing, will be converted into the right to receive an amount in cash. The exact amount is calculated as $31.00 plus $0.00277778 multiplied by the number of calendar days elapsed after September 30, 2026, up to and including the closing date. If the closing occurs on October 6, 2026, as anticipated, each share will convert to $31.01666668 in cash.

Warner Bros. Discovery, a leading global media and entertainment company, owns a diverse portfolio including brands such as Discovery Channel, HBO Max, discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV, and others.

Paramount, a Skydance Corporation, is a next-generation global media and entertainment company with three business segments: Studios, Direct-to-Consumer, and TV Media. Its portfolio includes Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, SHOWTIME®, Paramount+, Pluto TV, Skydance Animation, Film, Television, and Interactive/Games, and the newly established Paramount Sports Entertainment.

The press release includes a cautionary statement regarding forward-looking statements. These statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties. They are subject to significant risks and uncertainties outside of the companies' control. These risks include the potential failure to complete the merger as anticipated, the occurrence of events that could lead to the termination of the merger, and the impact of the merger on the ability to retain customers, key personnel, and business partners.

The companies urge readers not to place undue reliance on these forward-looking statements, which speak only as of the date of the release. Warner Bros. Discovery's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K, reports on Form 10-Q and Form 8-K, and the definitive proxy statement filed in connection with the merger, contain additional risks and uncertainties.