Warner Bros. Discovery, Inc. (WBD) has completed its acquisition by Skydance Corporation (f/k/a Paramount Skydance Corporation) on October 6, 2026. The transaction was executed pursuant to an Agreement and Plan of Merger dated February 27, 2026, in which Skydance’s wholly owned subsidiary, Prince Sub Inc., merged with and into WBD, with WBD surviving as a wholly owned subsidiary of Skydance.
As part of the merger, all outstanding shares of WBD’s Series A common stock were canceled and converted into the right to receive $31.01666668 in cash per share. This amount includes a 'Ticking Consideration' calculated at $0.00277778 multiplied by the number of days elapsed after September 30, 2026, up to the closing date. The aggregate Ticking Consideration paid was $41,886,975.78.
WBD has also notified Nasdaq of the merger and requested that trading of its common stock be halted prior to the opening of trading on the closing date. Additionally, the company has ratified certain previously issued shares of common stock. The board determined that 396,804 restricted stock units (RSUs) granted to non-employee directors after the expiration of the company’s incentive plan on May 20, 2025, were 'potentially defective corporate acts.' The board ratified these grants and the issuance of 120,000 shares of common stock to settle these awards, confirming the shares are valid and fully paid.
