Paramount Skydance and Warner Bros. Discovery said Wednesday they expect their merger to close on Oct. 6, subject to customary conditions. The agreement, announced in February, would pay WBD shareholders $31 in cash per share, plus $0.00277778 for each calendar day after Sept. 30 until closing. If completed on Oct. 6, the total payment would be $31.01666668 per share. The transaction would combine Warner Bros. Discovery assets including HBO Max, Warner Bros., CNN and Discovery with Paramount holdings such as Paramount Pictures, CBS, Nickelodeon, Paramount+ and Pluto TV. The deal would represent a major consolidation in global media as companies pursue greater scale across film, television and streaming.