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The merger between Paramount Skydance and Warner Bros. Discovery is finalized. Trump celebrates the deal as the media company tries to distance itself.
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Filed: 2026-10-13 AccNo: 0001104659-26-115294 Size: 4 MB Item 1.01: Entry into a Material Definitive Agreement Item 2.03: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant Item 7.01: Regulation FD Disclosure Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
https://www.thetradedesk.com/press-room/the-trade-desk-expands-its-ctv-offering-in-italy-with-pause-ads-on-hbo-max-and-discovery
David Zaslav exits the Paramount Skydance, Warner Bros. Discovery merger without a job, but he has plenty of reasons to smile.
Skydance (SKYD) stock fell 24% on October 14, 2026, after 471 million warrants began trading separately from the company's shares on the ex-distribution date. The warrants, issued to former Paramount shareholders, allow them to purchase SKYD shares at $12 each through 2036. If fully exercised, this would generate $5.7 billion but dilute shares by roughly 10%. The combined company carries approximately $80 billion in net debt against $11.2 billion in adjusted EBITDA, making it a highly leveraged investment.
Skydance shares fell 23.84% after warrant distribution confusion; the NYSE cut the reference price by 19 cents, shifting—not erasing—value.
Netflix plans to cut 1,000 jobs as growth and viewing slow. The company is set to report Q3 earnings next Tuesday.