Paramount Skydance (PSKY, Financials), the media company behind Paramount Pictures, CBS and Paramount+, has extended the deadlines for its exchange and tender offers as it continues working toward its planned acquisition of Warner Bros. Discovery.
The offers will now remain open until 5 p.m. New York time on July 22. Paramount had already pushed back the deadlines twice, first on June 12 and again on June 26.
As of July 10, about 28.28% of the tender offer notes and 47.09% of the exchange offer notes had been submitted.
Paramount said those figures should not be viewed as a final indication of participation. Investors can still withdraw tendered notes before the new deadline.
The company expects settlement to take place in the third quarter, around the same time it hopes to close the Warner Bros. Discovery transaction.
The extension gives bondholders more time to decide while the larger deal works through legal and regulatory uncertainty.
For investors, the important issue is not the deadline itself but whether the acquisition closes on schedule. Any further delay could raise financing costs and add more pressure to the transaction.