Paramount extends WBD debt offers as it proposes theater commitments for merger defense

Paramount Skydance Corporation extended to 5:00 p.m. New York City time on Aug. 21, 2026 its cash tender and exchange offers for specified notes issued by Discovery Global Holdings, Inc. and Discovery Communications, LLC, saying settlement is currently expected in the third quarter of 2026 and may be delayed further to align with the closing of its proposed acquisition of Warner Bros. Discovery Inc. Separately, people familiar with the matter said Paramount has offered AMC Entertainment and Regal Cinemas three-year agreements guaranteeing 30 theatrical releases a year, with a 45-day exclusive theatrical window and a 90-day delay before streaming, as it tries to counter antitrust claims from 12 U.S. states led by California Attorney General Rob Bonta. As of Aug. 6, about 65.43% of eligible tender-offer notes and 76.04% of eligible exchange-offer notes had been validly tendered, though Paramount said those figures should not be seen as indicative of final results because the offers are being kept open to match the acquisition timetable.

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