Paramount Skydance Corp 8-K

What Happened
On January 22, 2026, Paramount Skydance Corporation issued a press release announcing it has amended and extended its tender offer (through wholly owned subsidiary Prince Sub Inc.) to purchase all outstanding Series A common stock of Warner Bros. Discovery, Inc. (WBD). The company also filed a Special Meeting Preliminary Proxy Statement and accompanying BLUE proxy card with the SEC the same day to solicit proxies against the proposed merger between WBD and Netflix, Inc. (the Proposed Netflix Transaction). The original tender offer materials were filed on Schedule TO on December 8, 2025. A copy of the press release is attached to the 8-K as Exhibit 99.1.

Key Details

• Date filed: January 22, 2026 (press release and preliminary proxy statement / BLUE proxy card).
• Target: Tender offer is for all outstanding Series A common stock of Warner Bros. Discovery, Inc.
• Prior filing: Tender offer statement on Schedule TO was filed December 8, 2025.
• Participants named in the solicitation include Paramount, Prince Sub Inc., certain Paramount directors/officers, Lawrence Ellison, RedBird Capital Management and the Lawrence J. Ellison Revocable Trust.

Why It Matters
This filing shows Paramount is actively pursuing control of WBD by both a cash tender offer and a proxy campaign to block the Netflix merger—actions that could influence WBD stockholder voting outcomes and the timeline or terms of the Proposed Netflix Transaction. Retail investors should monitor forthcoming definitive tender and proxy materials (and any updates) for details on offer terms, deadlines, financing, and potential impacts on company ownership and strategy. All materials will be available on the SEC’s website when filed.