Latham & Watkins Represents Paramount Skydance in Warner Bros. Consent Solicitations With Respect to Approximately US$15 Billion of Outstanding Notes

Paramount Skydance Corporation (Nasdaq: PSKY) (Paramount). Warner Bros. Discovery, Inc. (WBD) has announced it has received the requisite consents pursuant to the previously announced consent solicitations conducted by Discovery Global Holdings, Inc. and Discovery Communications, LLC to adopt certain proposed amendments with respect to each of the indentures governing the respective senior unsecured notes. The consent solicitations were conducted in connection with the proposed acquisition by Paramount of WBD. Concurrently with the consent solicitations, Paramount separately commenced offers to purchase for cash approximately US$2.4 billion of WBD’s existing notes and offers to exchange approximately US$12.8 billion of WBD’s existing notes.

Latham & Watkins LLP represented Paramount in connection with the WBD consent solicitations and the related Paramount tender and exchange offers with a Capital Markets team lead by partners Jason Licht, Benjamin Cohen, and Kaj Nielsen, with counsel Lucas Balchun and associates Jack Anderson, Madison Venezia, Sarah Branch, Molly Mitchell, Abdullah Khan, and Brittany Grego. Advice on corporate matters was provided by partners Ian Nussbaum and Max Schleusener; on finance matters by partners Joshua Tinkelman, Emily Johnson, and Brian Rock, with associates Chen Tang, Young Joo, Jenny Lyubomudrova, Kerry Pemberton, and Nick Massoni, with assistance from Lilian Law; on tax matters by partners Pardis Zomorodi and Aaron Bernstein, with associates Jeremiah Cowen and Alice Chen; and on securities law matters by partners Michele Anderson and Senet Bischoff.