Paramount Skydance Reportedly Faces $79B Debt After Warner Bros Acquisition
Synopsis
According to a Reuters report, CEO David Ellison emphasized that there are no current plans to sell or spin off any cable networks following the $110 billion deal.
Paramount Skydance (PSKY) has reportedly confirmed on Monday that its acquisition of Warner Bros (WBD) will leave the newly formed company with an estimated $79 billion in net debt.
According to a Reuters report, CEO David Ellison emphasized that there are no current plans to sell or spin off any cable networks following the $100 billion, $31-per-share deal finalized on Friday.
Paramount secured the agreement after Netflix Inc. (NFLX) declined to increase its earlier bid, allowing the studio to take control of the full portfolio of Warner assets, which includes HBO, DC Comics, and Warner Bros. movies.
Paramount Skydance stock traded over 2% lower on Monday, after the morning bell.
Get updates to this developing story directly on Stocktwits.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.