Paramount launches $7.5B debt raise to fund Warner Bros. Discovery acquisition

Paramount Skydance has launched a $7.5 billion senior secured term loan as part of financing for its $110 billion acquisition of Warner Bros. Discovery, following a judicial settlement with California and the WGA that cleared the final internal hurdles. The debt raise signals the deal is moving toward closing, though regulatory and market conditions remain uncertain. This is a major media consolidation that will reshape Hollywood and carries significant financing risk.