Paramount Skydance Corporation announced that Warner Bros. Discovery secured bondholder consent to amend its debt indentures. This development removes a major financing obstacle for the proposed $110 billion merger.
The agreement modifies terms for approximately $17.2 billion in senior unsecured notes. These changes align the debt structure with the specific requirements of the acquisition.
Supplemental indentures were executed on May 26, 2026. The new terms become operative around May 29, 2026. Settlement of related exchange and tender offers depends on the final closing of the merger.