Skydance shares fell<\/a> as much as 26% in Wednesday trading, trading at $6.68 per share as of 11:35 a.m. ET. The stock later pared some of those losses, closing down 22.2% at $7.06 a share.<\/p>\n The company distributed about 470.7 million warrants on Oct. 13 following its acquisition of Warner Bros. Discovery, according to a Securities and Exchange Commission (SEC) filing.<\/p>\n Warrants give investors the right to buy shares at a set price before they expire.<\/p>\n PARAMOUNT REACHES SETTLEMENT WITH STATES SUING TO BLOCK WARNER BROS DISCOVERY TAKEOVER<\/a><\/p>\n Shares of Skydance Corp. fell Wednesday after the newly formed media giant distributed nearly 471 million stock warrants to shareholders. (\u00c2Photo by Richard B. Levine)<\/p>\n Eligible shareholders received<\/a> one warrant for each share of Skydance Class B common stock they held as of the Oct. 5 record date. Each warrant allows the holder to buy one Skydance Class B share for $12.<\/p>\n If all the warrants are exercised, Skydance could raise about $5.7 billion, according to the company.<\/p>\n The warrants are set to expire in October 2036, although they could expire earlier under certain conditions.<\/p>\n The warrant distribution followed Skydance’s completion of its $110 billion takeover of Warner Bros. Discovery. The deal brought brands including CBS, CNN, Paramount+ and HBO Max under one company<\/a>, according to Reuters.<\/p>\n WARNER BROS DISCOVERY SHAREHOLDERS APPROVE PARAMOUNT SKYDANCE DEAL<\/a><\/p>\n The warrant distribution followed Skydance’s completion of its $110 billion takeover of Warner Bros. Discovery.\u00a0 (Ringo Chiu\/Reuters)<\/p>\n The combined company began trading on the New York Stock Exchange under the ticker “SKYD” following the deal.<\/p>\n Wells Fargo analysts said the warrant distribution marked the “final step” in closing the Warner Bros. Discovery transaction, according to Variety<\/a>.<\/p>\n CEO David Ellison has said the merger would help Skydance better compete with streaming and technology giants<\/a> including Netflix and Amazon, Reuters reported.<\/p>\n Skydance plans to combine HBO Max and Paramount+ into a single streaming service while pursuing about $6 billion in planned savings.<\/p>\n![\"Skydance](\"https:\/\/www.newsbeep.com\/us\/wp-content\/uploads\/2026\/10\/skydance-on-building.jpg\")
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