Warner Bros. Discovery Sets Paramount Merger Shareholder ...

What’s Happening

Let’s talk about Shareholders of record are set to vote on the $110 billion deal during a special meeting on April 23 at 10 a.

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Discovery Sets Paramount Merger holder Vote holders of record are set to vote on the $110 billion deal during a special meeting on April 23 at 10 a.

The Details

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(Credit: Mario Tama/) Warner Bros. Discovery holders are set to vote on the companys pending, $110 billion merger with Paramount Skydance during a special meeting on April 23 at 10 a.

Why This Matters

The media giant has also kicked off mailing the definitive proxy statement to holders in connection with the special meeting. Holders of record as of March 20 at 5 p. Under the terms of the deal, WBD holders will receive $31 per in cash for each of WBD common stock they own, which represents a 147% premium to the companys unaffected stock of $12.

The entertainment world moves fast, and this is a prime example.

Key Takeaways

• It also includes $54 billion of debt commitments from Bank of America, Citigroup and Apollo.
• 5 billion of bridge financing from these institutions to backstop an existing $3.

The Bottom Line

Existing Paramount stockholders will have the opportunity to participate in a rights offering of up to $3. 25 billion of Class B Paramount stock alongside the new equity investment, which is expected to occur closer to the closing date at a price of $16.

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