Paramount Skydance Plans NYSE Move And Name Change To Skydance Corporation, Both Set For October 6
The company will swap its PSKY ticker for SKYD as it pursues its pending acquisition of Warner Bros. Discovery.
Paramount Skydance disclosed Friday that it will move its Class B common stock listing from Nasdaq to the New York Stock Exchange and rename itself Skydance Corporation, with both changes targeted for the market open on October 6. The moves consolidate the company's identity ahead of its pending acquisition of Warner Bros. Discovery.
What The 8-K Says
The Form 8-K filed Friday lays out three simultaneous changes, all expected to take effect at the October 6 market open: the transfer of the Class B common stock listing from Nasdaq to the NYSE, a ticker change from PSKY to SKYD, and an amendment to the company's certificate of incorporation to adopt the name Skydance Corporation.
The filing notes that the exchange transfer and the ticker-symbol change were first announced on September 25, 2026. The name change to Skydance Corporation was announced on October 2, the same day the 8-K was signed by General Counsel and Secretary Stephanie Kyoko McKinnon.
PSKY shares edged up about 0.3% to $9.37 in Friday trading, according to market data.
The Warrant Distribution Complication
Layered on top of the listing move is a warrant distribution that holders of Class B common stock need to track carefully.
The company's board set October 5 as the record date for a planned distribution of warrants to purchase Class B common stock shares — one warrant per share held as of the close of business that day. Because the listing is transferring to the NYSE before Nasdaq would normally announce an ex-date, Nasdaq has said it does not intend to set one. Instead, the NYSE is expected to announce the warrant ex-date on or about October 6, in connection with the new listing. The warrants are also intended to trade separately on the NYSE, subject to applicable approvals.
The filing carves out several parties who will not receive warrants regardless of their share holdings: Lawrence J. Ellison, David F. Ellison, Gerald J. Cardinale, The Lawrence J. Ellison Revocable Trust, RedBird Capital Partners Fund IV (Master), and their respective affiliates, successors, and transferees, as well as the Paramount Global 401(k) Plan and the Paramount Global Master Trust.
For everyone else holding Class B shares, the filing is direct: holders must keep their shares through the date warrants are issued and distributed in order to receive them.
The Warner Bros. Discovery Backdrop
The rebranding and exchange transfer are taking shape as the company works toward closing its acquisition of Warner Bros. Discovery — a deal the 8-K's forward-looking disclosures identify as a central risk factor, noting that closing conditions may not be satisfied and that the merger may not be completed in the expected timeframe or at all.
To help fund the purchase price and retire existing debt, the company announced on September 28 plans to offer about $44.4 billion in senior secured notes — a combination of first- and second-lien debt denominated in U.S. dollars and euros.
The filing also flags structural features that will carry over to the NYSE listing: the company operates under a dual-class capital structure and is classified as a "controlled company" under exchange rules, which exempts it from certain corporate governance requirements. The 8-K notes that Class B common stock carries no voting rights, a risk factor the company highlights for prospective holders.
The precise warrant ex-date — and the first day of trading under the SKYD ticker on the NYSE — are both expected to be confirmed on or about October 6.
Sources
- 8-K Filing — Paramount Skydance Corp (PSKY) — SEC EDGAR
- Paramount Skydance Corporation Announces Launch of Notes Offerings — prnewswire.com
