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Paramount-WBD Deal To Close on October 6
October 1, 2026
Paramount Global and Warner Bros. Discovery’s (WBD) merger deal has moved into the final stages after a federal judge approved a settlement resolving an antitrust lawsuit brought by state attorneys general. Paramount said the transaction is expected to close on 6 October 2026. Following the court approval, Paramount CEO David Ellison announced Ynon Kreiz, as co-CEO of the combined company. Ellison will remain chairman and CEO, focusing on long-term strategy, creative direction, partnerships and capital allocation, while Kreiz will oversee day-to-day operations and integration. The merger received approval after Paramount agreed to behavioral remedies in its settlement with state attorneys general, including minimum annual film-release targets and an editorial independence board overseeing CNN and CBS News. The court approval came just before an October 1 deadline when a “ticking fee” was scheduled to increase Paramount’s cost of acquiring WBD.
Paramount’s bonds traded stable with its 5.9% 2040s at 70.1, yielding 9.9%. WBD’s 5.05% 2042s traded at 60.4, yielding 10.2%.
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