psky

Paramount (PSKY) Debt Downgraded to Junk Following Warner Bros. (WBD) Deal

Fitch has downgraded Paramount’s debt to junk status and put the media giant on a negative credit watch over uncertainty related to its $110 billion merger with Warner Bros. Discovery, warning that its leverage and free cash flow “may remain outside negative rating sensitivities” for longer than anticipated. The firm said the downgrade reflects “competitive …

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Larry Ellison backstops $40.4B Paramount bid for Warner Bros. PSKY +4.3%, WBD +3.5%

Source: https://finance.yahoo.com/news/oracles-larry-ellison-agrees-to-backstop-404-billion-in-financing-for-paramount-acquisition-of-warner-bros-145133265.html Shares in Paramount Skydance (PSKY) and Warner Bros. Discovery (WBD) spiked Monday after Larry Ellison, the centibillionaire founder and executive chairman of Oracle (ORCL), agreed to personally backstop $40.4 billion in equity financing for Paramount’s proposed acquisition of Warner Bros. Paramount stock rose over 4%, while Warner Bros. shares rose by over 3.5%. In a securities …

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