Paramount Skydance has launched syndication for a proposed $7.5 billion senior secured term loan to help finance its acquisition of Warner Bros Discovery. The loan is part of a broader package involving about $44.4 billion in additional secured debt, alongside previously announced financing, cash on hand and prior equity funding. Bank of America, Citigroup and Apollo are leading the debt process, which includes investment-grade loans, bonds and second-lien structures. The combined company is expected to carry about $80 billion in debt after closing. Paramount Skydance shares closed at $10.18, up 2.21%, as investors tracked progress on the transaction. The financing announcement follows Paramount’s settlement of litigation with a California-led group of states and the Writers Guild of America over the $110 billion deal. Under the settlement, Paramount agreed to increase U.S. film production and create an editorial-independence board for CBS and CNN, avoiding a forced sale of assets including CNN and its film franchises.