Paramount Skydance Corporation (PSKY) investors are facing another major development as the company considers whether selling CNN could help clear a key regulatory obstacle to its proposed acquisition of Warner Bros. Discovery (WBD).
Paramount and WBD first announced a definitive merger agreement on Feb. 27, under which Paramount agreed to acquire WBD for $31 per share in cash, valuing the transaction at approximately $81 billion in equity value and $110 billion in enterprise value. The deal was initially expected to close in the third quarter of 2026, subject to regulatory and shareholder approvals.
