Skydance Corporation (formerly known as Paramount Skydance Corporation, NYSE : SKYD) stated on Wednesday that it has disclosed details regarding the allocation of warrants to some holders who hold approximately 9% of its Class B common shares.

The company stated that on October 6, 2026, it completed the acquisition of Warner Bros, Discovery, and Inc as previously announced. In connection with this acquisition, on October 13, 2026, the company distributed warrants to its registered public shareholders as of October 5, 2026. For each share of Class B common stock held, shareholders were entitled to one warrant that allowed them to purchase one share of Class B common stock. The total number of warrants issued was approximately 471 million, and they began trading on the New York Stock Exchange on October 13, 2026, under the symbol SKYD.WS. The ex-dividend date was October 14, 2026.

The company stated that on October 13, the New York Stock Exchange disclosed a planned adjustment of $0.19368 to the price of Class B common shares (from approximately $9.27 to approximately $9.07), based on the official closing price of the warrants at $2.20. The company understands that this adjustment was made according to the official closing price of the warrants on October 13, 2026, at a ratio of about 9%; approximately 471 million shares of Class B common shares, which are entitled to receive warrants, account for about 9% of the total 5 billion outstanding shares.

The following table outlines the indicative values of warrants before and after the split, based on the closing price of SKYD on October 13, 2026.

About Skydance

Skydance is a new generation global media and entertainment company, with its business divided into three segments: Studios, Direct-to-Consumer, and TV Media. Its brand portfolio includes Paramount, Warner Bros, HBO, HBO Max, Paramount+, Pluto TV, CBS, CNN, CBS Sports, TNT Sports, Cartoon Network, Food Network, BET, HGTV, and Comedy Central, among others.

SKYD-IR

Warning Regarding Forward-Looking Statements

This communication contains “forward-looking statements” regarding the completed acquisition of WBD, as well as integration, synergies, financial and leverage objectives, strategy, impact on competition, and other subsequent matters concerning the merged companies. Readers are reminded not to rely on these forward-looking statements. These statements are based on current expectations of future events. If the underlying assumptions prove to be inaccurate, or if known or unknown risks or uncertainties arise, actual results may differ significantly from the expectations and projections of Paramount or WBD.Risks and uncertainties include, but are not limited to: the expected benefits, synergies, and opportunities from completed acquisitions may not be realized, or may take longer to realize than anticipated; risks and costs associated with integrating with WBD's business, including the ability to successfully integrate and achieve the expected synergies and financial targets; the merged companies may not be able to achieve the expected operational synergies, net leverage, free cash flow, or other financial targets described in this press release within the expected time frame, or may not be able to achieve them at all; completed acquisitions and ongoing integration may disrupt business operations and relationships; shareholder litigation risks related to the acquisition of WBD; risks associated with Paramount's streaming media business; adverse effects on Paramount's advertising revenue due to changes in consumer behavior, advertising market conditions, and insufficient audience measurement; the risks of operating in a highly competitive and dynamic industry; unpredictable consumer behavior, as well as the constant evolution of technology and distribution models; risks related to investing in new businesses, products, services, and technologies, as well as the evolution of business strategies; potential loss of broadcasting rights or other reductions in distribution, or impacts related to negotiations regarding Paramount content distribution; damage to Paramount's reputation or brand; losses resulting from impairment provisions for goodwill, content, and long-term assets (including intangible assets with limited lifespans); liabilities related to the termination of operations and previous businesses; increasingly stringent scrutiny and changing expectations for sustainability initiatives; evolving risks related to business continuity, network security, privacy, data protection, and similar aspects; challenges in protecting and maintaining Paramount intellectual property; domestic and global political, economic, and regulatory factors that affect Paramount's business in general or the completed WBD acquisitions; inability to recruit or retain key employees or creative talent; labor disputes that lead to Paramount operational disruptions;Risks and costs associated with the integration of businesses with Paramount Global, Paramount, Skydance, and WBD, as well as __BJWKEEP_00011#'s ability to successfully integrate these businesses and achieve the expected synergies, including the amount or timeline for realizing these synergies; litigation related to the transaction agreements signed on July 7, 2024, between Paramount Global, Skydance Media, and LLC may result in significant costs; fluctuations in the price of __BJWKEEP_00004#'s common stock; the impact of the dual-class share structure and concentrated shareholding on the price of __BJWKEEP_00005#'s common stock or business; risks related to the private sale of controlling interests in Paramount, including the possibility that shareholders may not obtain any control premium for their Class B common stock, and the possibility that it may come under the control of an unknown third party; risks related to being classified as a "controlled company" under NASDAQ rules in Paramount, including exemptions from certain corporate governance requirements; risks associated with the lack of voting rights for __BJWKEEP_00007#'s common stock; the revised and restated articles of association and bylaws, as well as anti-takeover provisions in Delaware law, may hinder, delay, or prevent changes in control; the exclusive jurisdiction clauses in the articles of association may limit shareholders' choice of forum for certain claims and prevent lawsuits against __BJWKEEP_00019#'s directors and executives; the company opportunity clauses in the articles of association may allow certain individuals to pursue competitive opportunities that would otherwise belong to Paramount; risks related to the structure of the controlling company in Paramount.Including the allocation of its dependent subsidiaries to meet tax obligations and other cash needs; risks related to the merged company's assumption of additional debt and its ability to fulfill financial and other contractual obligations under the relevant agreements; risks related to the merged company's ability to deleverage in accordance with management objectives, including assumptions, uncertainties, and contingent factors that affect its debt reduction capacity; risks related to management's ability to implement strategic plans and improve the financial condition and operating cash flow of the merged company; as well as risks related to the potential need for the merged company to raise capital or obtain other financing after the acquisition of WBD to reduce debt. For a further list and description of these risks, uncertainties, and other factors, as well as the general risks of the respective businesses of Paramount and WBD, please refer to Paramount's 10-K annual report for the fiscal year ended December 31, 2025, submitted to SEC on February 25, 2026 (revised by the 10-K/A submitted on April 24, 2026, and superseded by the content listed in the 8-K report submitted on May 13, 2026); Paramount's 10-Q quarterly report for the quarter ended June 30, 2026, submitted on August 4, 2026, including the sections titled "Caution Regarding Forward-Looking Statements" and "Item 1A. Risk Factors"; as well as subsequent documents submitted to SEC; and WBD's 10-K annual report for the fiscal year ended December 31, 2025, submitted on February 27, 2026; WBD's 10-Q quarterly report for the quarter ended June 30, 2026, submitted on August 6, 2026; and subsequent documents submitted to SEC, including those related to the acquisition of WBD.The aforementioned documents and subsequent documents can be obtained online at www.sec.gov, https :// ir.paramount.com / sec-filings / paramount, https :// ir.corporate.discovery.com / financials / sec-filings (if applicable), or by requesting them from Paramount or WBD. Except as required by law, neither Paramount nor WBD assumes any obligation to update any forward-looking statements due to new information, future events, or developments. Since it is not possible to accurately estimate the relevant adjustments or quantify the potential significance of these items without unreasonable effort under the current circumstances, we are unable to adjust the forward-looking non-financial indicators.