Warner Bros. Discovery units sought note holders' consent; Paramount planned to pay $2.50 per $1,000

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

On May 19, 2026, Warner Bros. Discovery said its subsidiaries Discovery Communications, LLC and Discovery Global Holdings, Inc. had begun asking holders of certain series of their notes to consent to changes to the indentures that govern them. One proposed change would have moved the deadline for the subsidiaries to start an offer of junior lien secured notes in exchange for the old notes from Dec 30, 2026 to the end date of the merger agreement for Paramount Skydance Corporation's then-proposed acquisition of Warner Bros. Discovery, which was Mar 4, 2027 and could be extended by the parties. The press release offered holders who consented by 5:00 p.m. New York City time on May 26, 2026 a cash payment of $2.50 for each $1,000 of principal amount, or €2.50 for each €1,000, as applicable, and said Paramount intended to pay it on the subsidiaries' behalf. Warner Bros. Discovery set this out in an 8-K, a US company's report of a material event, filed on May 19, 2026, with its press release attached.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11