Paramount Skydance Corporation (PSKY) has entered into new permanent financing agreements to support its pending acquisition of Warner Bros. Discovery, Inc. (WBD). The company secured a new $10.0 billion credit agreement and amended an existing facility to increase liquidity. This new financing reduces the company's reliance on a previously disclosed bridge facility. Additionally, the company announced the departure of its President, Jeffrey Shell.
Key Details
- New Pro Rata Credit Agreement: On April 7, 2026, PSKY entered into a new credit agreement for senior secured facilities totaling $10.0 billion, consisting of a $2.5 billion 3-year term loan, a $2.5 billion 5-year term loan, and a $5.0 billion 5-year revolving credit facility.
- Bridge Facility Reduction: As a result of the new financing, commitments under the previously announced bridge facility for the WBD acquisition have been reduced by $5.0 billion, from $54.0 billion to $49.0 billion.
- Amended Revolving Credit Facility: PSKY amended its existing senior unsecured revolving credit facility, increasing the total commitment size by $1.5 billion from $3.5 billion to $5.0 billion.
- Executive Departure: Jeffrey Shell, President of PSKY and a member of its Board of Directors, departed from the company effective April 8, 2026, under a separation agreement.