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BusinessFading · day 3

Paramount launches $49B debt sale after settling merger lawsuits

Banks begin marketing bonds and loans to fund the $110 billion Warner Bros. acquisition after antitrust litigation ends.

newest coverage 18h agosummary written 17h ago5 pieces Google NewsNewswires

What to know

  • Paramount settled antitrust litigation with 12 state attorneys general Monday, clearing the path for its $110 billion Warner Bros. acquisition to close after threats of mid-2027 delay.
  • Banks are now marketing a $49 billion debt package ($30B investment-grade bonds, $7.5B loans, $12B second-lien bonds) to investors, with formal launch expected within weeks.
  • Paramount faces mounting pressure: $7 million in daily penalties to Warner Bros. shareholders beginning October 1 if the deal remains unclosed, plus uncapped interest rates that have already risen as the Federal Reserve and ECB raised rates since underwriting.
  • Settlement requires Paramount to maintain minimum theatrical film releases (30–32 per year) and increase domestic film production by at least $1.5 billion over five years.

“The settlement requires Paramount to release a minimum of 30 films in cinemas annually in the first two years, rising to 32 per year over the three years after that, and to spend at least $1.5 billion above its 2025 domestic film production levels over five years”

Settlement terms, Antitrust settlement · Quartz / Yahoo Finance ↗

Paramount / Skydance Corporation AcquirerWarner Bros. Discovery Acquisition targetRob BontaRob Bonta California Attorney GeneralBank of America, Citigroup, Apollo Global Management Debt underwriters

Paramount launches $49B debt sale after settling merger lawsuits
Quartz

How it unfolded 2 developments, newest first · click a bar or a number to jump articles

Peak 2 pieces in one hour at Sep 21, 10 AM; 5 pieces over 3 days (5 articles) Sep 21, 10 AM — 2 pieces · 2 articles — Google News 2Sep 21, 11 AM — quietSep 21, 12 PM — quietSep 21, 1 PM — quietSep 21, 2 PM — quietSep 21, 3 PM — quietSep 21, 4 PM — 1 piece · 1 article — Google News 1Sep 21, 5 PM — quietSep 21, 6 PM — quietSep 21, 7 PM — quietSep 21, 8 PM — quietSep 21, 9 PM — quietSep 21, 10 PM — quietSep 21, 11 PM — quietSep 22, 12 AM — quietSep 22, 1 AM — quietSep 22, 2 AM — quietSep 22, 3 AM — quietSep 22, 4 AM — quietSep 22, 5 AM — quietSep 22, 6 AM — quietSep 22, 7 AM — quietSep 22, 8 AM — quietSep 22, 9 AM — quietSep 22, 10 AM — quietSep 22, 11 AM — quietSep 22, 12 PM — quietSep 22, 1 PM — quietSep 22, 2 PM — quietSep 22, 3 PM — quietSep 22, 4 PM — quietSep 22, 5 PM — quietSep 22, 6 PM — quietSep 22, 7 PM — quietSep 22, 8 PM — quietSep 22, 9 PM — quietSep 22, 10 PM — quietSep 22, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — 2 pieces · 2 articles — Newswires 2Yesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — quietYesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — quiet 12
Sep 22yesterdaynow · 2:07 AM ET
  1. 2

    Banks begin marketing $49 billion debt package to investors

    Bank of America, Citigroup, and Apollo Global Management are contacting potential investors for the debt sale, with formal launch expected within weeks. The $49 billion package comprises $30 billion investment-grade bonds, $7.5 billion loans, and $12 billion second-lien bonds.

    “The expectation is that the debt will sell down quickly once the sale begins…”
    — Unnamed sources cited by Bloomberg
    1. 2 outlets Paramount plans $49 billion debt sale for Warner Bros. merger

      first by Yahoo Finance, 18h ago · also Quartz

      1 more headline
  2. 1 day quiet
  3. 1

    Paramount settles antitrust lawsuits blocking merger

    Paramount reached settlement with 12 state attorneys general and the Writers Guild of America, led by California AG Rob Bonta, resolving antitrust litigation that had threatened to delay deal closing to mid-2027. Settlement requires minimum theatrical film releases and increased production spending.

Also covered reported alongside — the timeline has no entry for these yet

  1. 2 outlets Paramount’s $49 Billion Debt Sale to Kick Off After Lawsuits End

    first by Yahoo! Finance Canada, 2d ago · also Yahoo Finance