TV and radio broadcasters that beam free-to-air channels and shows into homes — the networks behind local news and prime-time programs.
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Gray Television to Add $75 Million to Term Loan G and Redeem $150 Million of 2029 Notes
Gray Television announced an agreement to increase its Term Loan G by $75 million and issued a conditional notice to redeem $150 million of its 10.500% senior secured notes due 2029, sending shares down 5.3% in the afternoon session. The $75 million is a delayed draw on the term loan due July 15, 2030, on the same terms as that loan, and Gray expects to fund it on or before October 19. The draw, plus cash on hand, would redeem the $150 million of 2029 notes at 105.250% of par plus accrued interest and cover fees, with the redemption conditioned on that funding. Afterward, Gray expects $200 million of the 2029 notes and $675 million of Term Loan G to be outstanding, a balance that would keep an earlier maturity from taking effect under yesterday's credit-agreement amendment filed with the SEC. The added loan is floating-rate debt at Term SOFR plus 3.50%, the same price as the $600 million term loan closed yesterday, when Gray also cut its revolver to $680 million from $750 million.
GTN · Capital · Negative Gray is adding $75M of floating-rate Term Loan G debt and redeeming $150M of 10.500% 2029 notes at 105.250% of par, a refinancing/leverage move that sent shares down 5.3%.
Paramount Takes £215m Dividend From Channel 5 As Profits Slump
Paramount has extracted a £215m dividend from its British broadcaster Channel 5, one of the largest payouts in the channel's history, even as the subsidiary's pre-tax profits fell by two-thirds to £11.9m and revenues dropped 8pc to £292m. The payout was taken from retained earnings in Paramount's first year under David Ellison, who closed an $8bn deal to take control of the company last summer and has since completed a $110bn merger with Warner Bros. that rebranded the group as Skydance. Channel 5 blamed its decline on "challenging" conditions in the advertising market, though it said streaming viewing rose by more than a third in 2025, outpacing the BBC, ITV and Channel 4, and it booked a one-off gain of £19.1m from an internal transfer of an investment. Culture Secretary Lisa Nandy waved through the Warner Bros. tie-up after Paramount pledged to pump an extra £80m into Channel 5 over the next three years to fund news, children's programming and 20 additional hours of drama a year. Channel 5, which appointed Reemah Sakaan as its new boss at the start of this year, recently agreed to move its £300m advertising sales business from Sky to Channel 4, and previously paid its parent a £740m dividend in 2020.
PSKY · Capital · Neutral Paramount took a £215m dividend from Channel 5 even as the subsidiary's pre-tax profits fell two-thirds and revenues dropped 8pc
Gray Media Closes $600 Million Term Loan G and Extends Revolving Credit Facility to 2030
Gray Media has closed a new $600 million Term Loan G maturing July 15, 2030, and reduced its existing $750 million revolving credit facility to $680 million while extending that facility's maturity from December 1, 2028 to July 15, 2030. The Term Loan G was priced at a margin of 350 basis points over the Standard Overnight Financing Rate and issued with an original issue discount of 0.5%, with the pricing grid on the extended revolver unchanged. Proceeds were used to repay a portion of Gray's existing Term Loan D maturing December 1, 2028, leaving $150 million aggregate principal amount outstanding, and to pay related fees and expenses. Together with the August 21, 2026 closing of Gray's $750 million offering of 7.50% senior secured first lien notes due 2034, whose proceeds helped repay $675 million of its 10.5% senior secured first lien notes due 2029, the company has extended maturities across an aggregate of over $1.25 billion of debt and lowered its overall borrowing costs. Following these transactions, Gray has no material debt maturities until after both the 2026 and 2028 political cycles, with its nearest maturities now the remaining $150 million under Term Loan D due in December 2028 and the remaining $350 million of its 2029 Notes due in July 2029.
GTN · Capital · Positive Gray closed a $600M Term Loan G and extended its revolver to 2030, refinancing debt to push out maturities past the 2026/2028 political cycles and lower borrowing costs.
Skydance Debuts on NYSE Under Ticker SKYD After Paramount-Warner Bros. Discovery Merger
Skydance began trading on the New York Stock Exchange this past Tuesday under the ticker symbol SKYD, following the combination of Paramount and Warner Bros. Discovery. Chairman and CEO David Ellison called the merger a "historic" moment for the entire industry, saying the company's mission is to build the next-generation global media and entertainment company powered by creativity and technology. The debut was marked by Skydance Corporation ringing the NYSE Opening Bell, while Ternium celebrated the 20th anniversary of its NYSE listing with the Closing Bell. Separately, New York Comic Con 2026, the 20th anniversary of the event, kicks off today at the Javits Center in New York City, organized by RX, the exhibitions division of RELX, with RX CEO Hugh Jones joining NYSE Live. In early trading, both the 10-year and 30-year U.S. Treasury notes hit their highest levels since 2002, and ICE Brent Crude was trading at about $105 at 8 a.m. ET after President Trump said he doesn't want to make a deal with Iran, while Wednesday's Fed Minutes revealed most policymakers expect one more rate hike this year.
PSKY · Capital · Positive Paramount combined with Warner Bros. Discovery and the merged entity began trading on NYSE under SKYD, a major corporate combination.
SKYD · Capital · Positive Skydance debuted on the NYSE under ticker SKYD after completing its merger with Paramount and Warner Bros. Discovery.
WBD · Capital · Positive Warner Bros. Discovery was combined into the new Skydance entity following the merger.
Gray Media Shares Rise 2.58% as Analysts Eye 450% Earnings Growth
Gray Media (GTN) closed at $4.77, up 2.58% from the prior day's close, outperforming a session in which the S&P 500 lost 0.22%, the Dow lost 0.66%, and the Nasdaq lost 0.22%. The broadcast television company is scheduled to report earnings on November 6, 2026, with analysts expecting $0.84 per share, a 450% year-over-year increase, and revenue of $955.5 million, up 27.57%. For the full fiscal year, the Zacks Consensus Estimates project earnings of $2.35 per share and revenue of $3.63 billion, changes of +313.64% and +17.32%, respectively. Over the last 30 days, the Zacks Consensus EPS estimate has risen 0.64%, and Gray Media currently holds a Zacks Rank of #2 (Buy). The stock trades at a Forward P/E of 1.98, a discount to its industry average of 9.28, and carries a PEG ratio of 0.09 versus an industry average of 0.89.
GTN · Capital · Positive Analysts expect 450% YoY EPS growth and the stock trades at a deep discount (Forward P/E 1.98 vs industry 9.28), with a Zacks #2 Buy rank.
Paramount Skydance closes deal to acquire Warner Bros. Discovery
Paramount Skydance announced on Tuesday, October 6, that it had completed its acquisition of Warner Bros. Discovery, creating a giant company under the name Skydance that brings together two century-old Hollywood studios, two global streaming services, and two major American news organizations under one roof. Meanwhile, Anthropic announced it is expanding a special program that allows vetted cybersecurity experts to access and test the company's most powerful artificial intelligence models under relaxed safeguards on the models themselves, after its Project Glasswing collaboration helped detect more than 100,000 software vulnerabilities worldwide this year. Separately, Nippon Group Holdings, a major Japanese books and publishing group, acknowledged that one of its affiliates sold a large number of books to Anthropic, the American artificial intelligence developer, amid concerns in Japan's publishing industry that the books may have had their spines cut off so they could be scanned into digital data for training AI models and may be destroyed afterward. In Japan as well, the Japan Fair Trade Commission raided four major beer makers that together hold more than 90% of the market today, October 7, on suspicion of colluding to set wholesale beer prices, which would violate antitrust law.
PSKY · Capital · Positive Paramount Skydance completed its acquisition of Warner Bros. Discovery, creating a combined studio/streaming/news giant.
WBD · Capital · Positive Warner Bros. Discovery was acquired by Paramount Skydance, closing the deal to combine the two studios.
Nippan Group Holdings · Regulation · Negative Its affiliate sold large numbers of books to Anthropic amid industry concerns the books were cut up and destroyed for AI training.
Paramount Skydance closes $110 billion takeover of Warner Bros. Discovery
Paramount Skydance completed its acquisition of Warner Bros. Discovery for $110 billion on Tuesday, October 6, preparing to launch a Hollywood entertainment giant under the Skydance name spanning film, studios, streaming and television. The deal combines legendary film studios behind franchises such as Mission: Impossible, Harry Potter and DC Studios with major television networks and streaming services including CBS, CNN, Paramount+ and HBO Max. David Ellison, CEO of Paramount Skydance, said the merger paves the way for building a media and entertainment company of the future driven by creativity and technology. After the merger, Skydance plans to combine HBO Max and Paramount+ into a single platform, and has pledged to produce at least 30 films a year in the first two years, rising to 32 films a year over the following three years. The new company is expected to carry total debt of about $80 billion, with Ellison pledging to spend at least $30 billion a year on content. Analysts at MoffettNathanson forecast earnings before interest, taxes, depreciation and amortization of $16 billion in 2028, rising to $19 billion in 2030. Revenue is expected to be about $67 billion in 2028 and rise to roughly $70 billion in 2030.
Paramount Skydance closes deal to buy Warner Bros. Discovery for nearly 111 billion dollars
Paramount Skydance announced yesterday that it has completed its acquisition of Warner Bros. Discovery, creating a large company under the name Skydance that brings together two long-established Hollywood studios, two global streaming services, and two major US news organizations under one roof. The acquisition, which consists of both cash and assumed debt, is valued at nearly 111 billion US dollars, making it one of the highest-value mergers in media industry history. Skydance said the combined company will generate nearly 70 billion US dollars in annual revenue and will list on the New York Stock Exchange under the ticker SKYD.
PSKY · Capital · Positive Paramount Skydance completed its ~$111B acquisition of Warner Bros. Discovery, a major M&A event creating a combined company listing as SKYD.
WBD · Capital · Positive Warner Bros. Discovery is being acquired by Paramount Skydance for nearly $111B in cash and assumed debt.
Paramount Skydance closes $110 billion deal to acquire Warner Bros. Discovery
Paramount Skydance announced that it has completed its acquisition of Warner Bros. Discovery under a deal valued at $110 billion, a major deal in the Hollywood entertainment industry. The new company formed after the merger will be called Skydance. The merger brings together studios behind famous franchises such as Mission: Impossible, Harry Potter and DC Studios with major television networks and streaming platforms such as CBS, CNN, Paramount+ and HBO Max, creating a large entertainment company spanning film, television, streaming and news.
Tony Blair Named Advisor to Skydance After $110bn Paramount-Warner Bros Megadeal
Sir Tony Blair has been appointed as an advisor to the board of Skydance, the newly formed $110bn (£82bn) Hollywood giant controlled by Larry Ellison's family, following the completion of its blockbuster merger between Paramount and Warner Bros Discovery. The rebranded company will control an entertainment empire spanning streaming app HBO, the Harry Potter franchise, and US news channels including CNN and CBS, and will be led by David Ellison, Skydance's chief executive and chairman. David Ellison said Blair's global perspective and insight would be invaluable as the company turns ambition into results. Blair was named alongside Silicon Valley figures appointed to the new board, including Laurene Powell Jobs, the wife of the late Steve Jobs, and Bobby Kotick, the former Activision boss. The deal was confirmed on Tuesday after a California judge last month approved a settlement between Paramount and a dozen US states that had threatened to block it on competition grounds, and it leaves the new media giant nursing an $80bn (£60bn) debt pile while significant layoffs and cuts are expected.
Paramount completes Warner acquisition, creating a media giant in a $110 billion deal
American media giant Paramount Skydance announced on the 6th that it has completed its acquisition of rival Warner Bros. Discovery. The deal is worth $110 billion including debt, or roughly 17 trillion yen, making it the largest merger in the history of the American media industry. The result is a media colossus called Skydance that owns two of Hollywood's leading film studios, streaming services, and television networks. Paramount's chief executive, David Ellison, will lead the new company, with Inon Kreitz, formerly of the American toy giant Mattel, serving as co-CEO. The company will hold popular film franchises such as Harry Potter, Top Gun, and Mission: Impossible, along with Warner Bros. Discovery's CNN news channel and Paramount's CBS News. In a statement, Skydance said it will produce at least 30 films a year and more than 180 television programs and series, and explained that it plans to eventually merge the streaming services operated by Paramount and Warner Bros. Discovery, stressing that it will expand consumer choice in entertainment.
Paramount Completes $110 Billion Warner Acquisition, Creating New Company Skydance
U.S. media giant Paramount Skydance announced on the 6th that its massive $110 billion acquisition of Warner Bros. Discovery has closed. The deal creates a new company, Skydance, with CEO David Ellison at the helm of one of the world's largest entertainment companies. Shares of the combined company moved from Nasdaq to the New York Stock Exchange on the 6th and began trading under the ticker symbol SKYD. The studio behind Mission: Impossible and Harry Potter will be combined with major television and streaming services including CBS News, CNN News, Paramount+, and HBO Max. However, the new company is expected to carry roughly $80 billion in debt, and Ellison will be tasked with expanding the streaming business, maintaining cash flow from the cable network operations, and improving the performance of theatrically released films. Analysts at research firm MoffettNathanson expect the company's earnings before interest, taxes, depreciation, and amortization to rise to $16 billion in 2028 and $19 billion in 2030, with revenue reaching about $67 billion in 2028 and about $70 billion in 2030. Skydance has committed to producing at least 30 films a year in the first two years after the acquisition closes, and 32 films a year over the following three years.
PSKY · Capital · Positive Paramount Skydance completed its $110 billion acquisition of Warner Bros. Discovery, creating a new combined entertainment company trading as SKYD.
WBD · Capital · Positive Warner Bros. Discovery was acquired by Paramount Skydance in a $110 billion deal that has now closed.
Paramount's deal with Warner Bros. Discovery has finally closed, with the combined Paramount Warner Brothers Discovery Skydance merged entity to be called simply Skydance. Paramount shares rose roughly 3% on the news, while Ynon Kreiz of Mattel will serve as co-CEO alongside David Ellison, raising questions about how the two will split responsibilities. Elsewhere, AMD CEO Lisa Su said at a conference that demand for chips remains strong, Moderna and other pharmaceutical stocks climbed, and Banco Bradesco, the second largest bank in Brazil, jumped on rising election odds for Bolsonaro.
Paramount Skydance and Warner Bros. Discovery close $110 billion merger
The $110 billion merger of Paramount Skydance and Warner Bros. Discovery is scheduled to close on Tuesday after Supreme Court Justice Elena Kagan denied a last-minute effort to halt the deal. The new company, known as Skydance, brings HBO Max and Paramount+ under one umbrella, roughly seven months after Paramount won a long bidding war for Warner Bros. over Netflix. Last February, Warner Bros.' board of directors deemed Paramount Skydance's $31-per-share proposal for the entire company superior to Netflix's offer. David Ellison will serve as co-CEO of Skydance alongside former Mattel CEO Ynon Kreiz, while Warner Bros. Discovery CEO David Zaslav will receive roughly $886.8 million. Weeks ago, Paramount reached a settlement with a dozen states, including California, which had sought to block the company's $111 billion acquisition of Warner Bros. on antitrust grounds; under the agreement, the combined company would pay $30 million for each movie short of releasing at least 30 films in theaters annually and could be forced to sell its 49% stake in Miramax if it misses the target.
PSKY · Capital · Positive Paramount Skydance closes its $110B acquisition of Warner Bros. Discovery after the Supreme Court denied a last-minute halt.
WBD · Capital · Positive Warner Bros. Discovery is acquired by Paramount Skydance in the $110B merger, with CEO Zaslav receiving ~$886.8M.
Miramax · Regulation · Neutral Settlement terms could force the combined company to sell its 49% Miramax stake if it misses the 30-films-a-year theatrical target.
Fuji HD to hold final bidding for Sankei Building sale, with Blackstone among suitors
Blackstone, Bain Capital, Warburg Pincus and others are preparing final bids for the sale of Sankei Building, the core real estate subsidiary being divested by Fuji Media Holdings, according to multiple people familiar with the matter who spoke to Reuters. The deal, including debt, could reach around 1 trillion yen, and if completed would rank among the largest acquisitions in Japan's real estate industry. Besides the three firms, BGO, a real estate investment fund under Canadian insurance giant Sun Life, is also preparing and is expected to submit a binding final proposal by the end of October. Fuji HD is expected to scrutinize the proposals, select a preferred negotiator, and then seek shareholder approval for the terms. Meanwhile, Singapore-based investment fund Vasant Master Fund, in a letter dated September 30 addressed to President Kenji Shimizu, demanded more detailed disclosure on the valuation of Sankei Building's assets, the transaction structure, consideration of alternatives, and the use of sale proceeds.
4676.JP · Capital · Neutral Fuji Media Holdings is divesting its core real estate subsidiary Sankei Building via a final bidding process expected to reach ~1 trillion yen.
Sankei Building Co., Ltd. · Capital · Neutral Sankei Building is the subject of the sale, with final bids from Blackstone, Bain, Warburg Pincus, and BGO expected by end-October.
BX · Capital · Positive Blackstone is among the suitors preparing a final bid for the ~1 trillion yen Sankei Building sale, a major M&A opportunity.
Vasanta Master Fund · Regulation · Negative Vasanta Master Fund demanded more detailed disclosure on Sankei Building's valuation, transaction structure, and use of proceeds.
SLF · Capital · Positive Sun Life's real estate fund BGO is preparing a binding final bid for Sankei Building, a large acquisition opportunity.
Broker flags KGEN turnaround as revenue set to surge to 25 billion baht after EV plant stake rises to 60%
Global Securities, or GBS, says King Gen Public Company Limited, or KGEN, is entering a turnaround phase, raising its stake in Omoda & Jaecoo Manufacturing (Thailand) Company Limited, which operates the electric vehicle plants for the OMODA JAECOO and CHERY brands, from the current 43.7% to 51% in early July, and then to 60% in late July to early August. This will shift revenue recognition from the share of profit of an associate to full consolidation of both revenue and profit. Management expects that after the stake increase, revenue will grow significantly year on year to 25 billion baht, with a net profit margin of 2.5-3.0%, or roughly 600-700 million baht. Previously, KGEN reported second-quarter 2026 profit of 37 million baht, up 171% quarter on quarter and 152% year on year, after losses in the first quarter of 2026 and the second quarter of 2025. The main driver was the share of profit from its investment in that associate, whose production line began operating on 20 April 2026, while revenue from sales and services grew to 227 million baht, up 8% quarter on quarter and 36% year on year. Bookings for JAECOO and OMODA electric vehicles at the Big Motor Sale 2026, held from 21-30 August 2026, totaled 5,028 units, with deliveries scheduled for September to October 2026, an additional factor supporting revenue and profit growth. The current share price still cannot be assigned a P/E ratio because the company has posted continuous losses from 2022 through the first six months of 2026, though earnings are expected to turn around from 2026 onward. The stock trades at a P/BV ratio of 2.58 times, above its one-year, two-year and three-year averages of 2.56, 2.30 and 2.10 times respectively.
KGEN.BK · Capital · Positive Broker flags KGEN turnaround as raising its stake in the EV plant to 60% shifts to full consolidation, lifting revenue to 25 billion baht and turning earnings positive.
Omoda & Jaecoo Manufacturing (Thailand) · Capital · Positive KGEN is raising its stake in Omoda & Jaecoo Manufacturing (Thailand) from 43.7% to 60%, shifting to full consolidation of the EV plant's revenue and profit.
Jaecoo (Chery Jaecoo Automobile) · Demand · Positive JAECOO and OMODA EV bookings at the Big Motor Sale 2026 totaled 5,028 units with deliveries in September-October 2026, supporting revenue growth.
Ellison's Oracle and Paramount Debt Binge Links Two Credits
Larry Ellison's dual role as backer of Paramount Skydance Corp. and controlling shareholder of Oracle Corp. is stirring concern on Wall Street as both companies pile on debt. Paramount took on $52 billion of additional debt this week to help pay for its acquisition of Warner Bros. Discovery Inc., while Oracle has nearly doubled its long-term debt to more than $160 billion over the past two years as it builds out AI computing capacity, making it the fifth-largest borrower in the US corporate bond market. The cost to insure the debt of both companies against default has converged and is increasingly moving in lock-step, a sign investors are beginning to treat the two credits as intertwined. Ellison, 82, is backstopping Paramount's takeover of Warner Bros., spearheaded by his son David, via a family trust that guaranteed a significant portion of the roughly $47 billion of equity financing for the deal, and the family pledged to take all necessary steps to bring leverage down in the coming years. His fortune has plummeted by almost $200 billion over the past year, though he is still worth roughly $192 billion, and he recently canceled a plan to sell billions of dollars worth of Oracle stock and disclosed he had increased the number of shares pledged as collateral for personal loans. S&P cut Oracle to BBB- in July and lowered Paramount's issuer credit rating to BB last month, and Oracle shares have fallen more than 50% over the past year.
ORCL · Capital · Negative Oracle's long-term debt nearly doubled to over $160B for AI capacity, S&P cut it to BBB-, and its credit risk is now intertwined with Paramount's, with shares down over 50%.
PSKY · Capital · Negative Paramount took on $52B of additional debt to fund the Warner Bros. acquisition, S&P cut its issuer credit rating to BB, and its default-insurance cost is converging with Oracle's.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being bought by Paramount, but the article focuses on the buyer's debt burden rather than WBD's own credit impact.
Paramount Skydance has appointed longtime media executive Ynon Kreiz as Co-Chief Executive Officer and board member, with David Ellison remaining the principal executive officer and Chairman. The move lands days before the planned closing of the Warner Bros. Discovery acquisition and follows a multi billion dollar secured debt raise, setting up Kreiz to run day to day operations while Ellison concentrates on creative direction and capital allocation. The leadership shift comes as the stock has posted a 30 day share price return of down 13.4% and a 1 year total shareholder return of down 49.3%, with a roughly US$52b debt package reshaping the risk profile ahead of the Warner Bros. Discovery deal closing. Paramount Skydance now trades near US$9.50, and on the most followed narrative it screens modestly cheap with a fair value estimate of about $9.81. The company is pursuing global scaling of Paramount+ through premium content, sports such as UFC and Zuffa Boxing and South Park, and year round programming, alongside consolidation of Paramount+, Pluto and BET+ onto a single tech platform and an Oracle Fusion enterprise rollout aimed at reducing run rate costs toward the US$3b efficiency target.
PSKY · Capital · Neutral Appoints Ynon Kreiz as Co-CEO ahead of the Warner Bros. Discovery deal close and after a multi-billion-dollar debt raise, reshaping leadership and risk profile.
WBD · Capital · Neutral Its acquisition by Paramount Skydance is set to close days after the leadership change, but no new terms are given.
M6 Group Restructures Finance and Technology Divisions as CFO Jérôme Lefébure Departs
Groupe M6 is simplifying the organisation of its cross-functional departments to accelerate its strategic priorities, creating a new Finance, Technologies and Transformation division led by Henri de Fontaines. The new division brings together the Finance Department, led by Emmanuelle Marti following a transition period with Jérôme Lefébure; a new Technologies, Innovation and Streaming Department formed by merging M6+ with the Technologies and Innovation Department and co-led by Valéry Gerfaud and Constance Fouquet; the Legal Department under Nathalie-Camille Martin; the Transformation Department under Claire Michaux; the Strategy Department under Baptiste Capdevielle; and the General Services Department under Jean-Christophe Ricou. Jérôme Lefébure will leave the Group at the end of November 2026 after 23 years, 12 of them as a member of the Executive Board, having served as Group CFO and then Managing Director of Finance and Support Functions. Emmanuelle Marti joins on 5 October 2026 as Group Chief Financial Officer and a member of the Executive Committee, most recently serving as Chief Financial Officer of the RMC-BFM Group. Christophe Foglio leaves at the end of the year after 18 years as Director of Technological Resources, Human Resources Director and then Transformation Director, with Claire Michaux, Deputy Transformation Director since December 2025, succeeding him as head of the Transformation Department.
Paramount-Warner Bros. $110 Billion Merger to Create Skydance
The combined company formed by the $110 billion merger of Paramount and Warner Bros. will be named Skydance, Paramount CEO David Ellison announced. Ellison said the name was chosen to preserve the distinct identities and legacies of both Paramount and Warner Bros. while giving the combined company an identity of its own. Skydance is the production company Ellison founded in 2006 and merged with Paramount in 2025. On Wednesday, Paramount named Mattel CEO Ynon Kreiz as co-CEO of the new company alongside Ellison, and Bloomberg reported the merger is expected to be finalized next week. The press release announcing Kreiz said the combined company will be guided by four strategic priorities: winning in content, becoming the most technologically capable media company, maximizing operational efficiencies, and earning trust.
PSKY · Capital · Positive Paramount's $110 billion merger with Warner Bros. is expected to be finalized next week, creating the combined Skydance entity.
WBD · Capital · Positive Warner Bros. Discovery is being merged into the $110 billion combined company with Paramount, expected to close next week.
MAT · · Neutral Mattel CEO Ynon Kreiz named co-CEO of the merged Paramount-Warner Bros. company, but no impact on Mattel's own business is described.
Paramount-Warner Bros. Merger to Take Skydance Name, Ellison Says
The combined company formed by the merger of Paramount and Warner Bros. will be named Skydance, Skydance chief executive David Ellison said in a post on X. Ellison said the new name was chosen to preserve the identities and legacies of both studios while giving the combined company its own corporate identity. "Both have distinct identities, extraordinary legacies, and brands that have resonated with audiences for generations," Ellison said. "We never wanted a new corporate identity to diminish, alter, or overshadow either one." He said Paramount and Warner Bros. have together shaped more than a century of entertainment and culture, and that the combined company would seek to build on the strengths of both studios, with Skydance focusing on "bold, quality storytelling" as a "creative-first home" for filmmaking and other content. The combined company intends to give Paramount and Warner Bros. the opportunity to expand their audiences globally while benefiting from Skydance's scale and capabilities, Ellison added.
Global bond markets stumble as credit spreads hit widest in six months after flood of large deals
Global credit markets are starting to show signs of slowing, with the yield premium, or credit spread, on corporate bonds worldwide widening by about 5 basis points this week, the biggest increase since March, pushing spreads to their widest level in six months amid concerns over inflation and high interest rates. Data from Bloomberg indices showed early trading in Asian markets on Friday also signalled that selling pressure could continue, with traders saying yield premiums on investment-grade bonds rose by about 2 to 4 basis points. The weakness in credit markets contrasts with a better tone in US Treasuries after most Federal Reserve officials struck a more dovish stance. A surge in new bond supply is starting to weigh on the market, with large companies from Paramount Skydance to SoftBank Group raising funds through massive debt issuance. Paramount Skydance in particular issued 52 billion dollars of debt this week to fund the biggest acquisition in Hollywood history, and its junk-rated bonds were among the heaviest sold in early trading. Just days earlier, SoftBank raised 11.1 billion dollars through high-yield bonds to support a large AI investment plan, forcing the company to offer historically high yields, including 9.75% on 7.5-year notes, to attract investors. Sheldon Chan, a portfolio manager for Asian and emerging-market debt at T. Rowe Price Group, said rising volatility was a key factor prompting some investors to avoid the market for now, and that the market's direction from here would depend mainly on macroeconomic factors and economic conditions. Meanwhile, in the riskier part of the US bond market, credit spreads jumped above 1,000 basis points relative to US Treasuries for the first time since the regional banking crisis in 2023, after spreads rose steadily from April as investors began positioning for the Fed's next rate hike.
9984.JP · Capital · Negative SoftBank raised $11.1 billion in high-yield bonds, having to offer historically high yields including 9.75% to attract investors.
PSKY · Capital · Negative Paramount Skydance issued $52 billion of debt to fund its acquisition, and its junk-rated bonds were among the heaviest sold, signaling financing strain.
Paramount CEO asks CNN chief to stay on after acquisition
Paramount Chief Executive David Ellison has asked CNN CEO Mark Thompson to remain at the helm of CNN after the completion of the Warner Bros. Discovery acquisition. A person familiar with the matter confirmed this to Reuters on the first of the month. The two have discussed a new contract over the past few weeks aimed at keeping Thompson on, but they have not yet reached agreement on terms. Thompson places great importance on editorial independence and is said to be seeking guarantees that he can retain broad authority over CNN's news coverage. The acquisition will bring CNN and CBS News under the same corporate umbrella, and Paramount executives are continuing to examine how the two outlets will work together after the merger. CBS News editor-in-chief Bari Weiss is expected not to be involved with CNN after the deal closes. On September 30, a U.S. federal district court approved a settlement between Paramount and 12 states led by California that had sued to block the acquisition, issuing an order allowing the deal to proceed. Under the settlement, the combined company must establish a "news editorial independence committee" to protect the editorial autonomy and fact-based reporting standards of CBS News and CNN.
PSKY · Capital · Positive Paramount's acquisition of Warner Bros. Discovery cleared a federal court settlement, allowing the deal to proceed and bringing CNN and CBS News under one umbrella.
WBD · Capital · Positive The court-approved settlement lets Paramount complete its acquisition of Warner Bros. Discovery.
CNN · Regulation · Neutral Paramount CEO asks CNN chief Mark Thompson to stay, with editorial-independence guarantees and a new editorial independence committee required under the settlement.
Fox Falls 17% After Announcing $22 Billion Roku Acquisition
Fox Corporation announced an agreement to acquire Roku for $22 billion in a mix of cash and stock, sending its shares down 17% in the next trading session. The TCW Relative Value Mid Cap Fund disclosed the reaction in its second-quarter 2026 investor letter, noting that investors were concerned about the large size of the deal, debt financing, and potential for equity dilution. Fox, Primoris, and Venture Global were the weakest performers in the fund's portfolio during the quarter. Fox closed at $62.65 on September 30, 2026, with a $26.42 billion market capitalization, and has posted a roughly 14.26% year-to-date pullback within a 52-week range of $48.34 to $76.39. The company is also facing regulatory scrutiny as the Department of Justice deepens its review of the proposed Roku acquisition.
FOXA · Capital · Negative Fox announced a $22B cash-and-stock Roku acquisition, raising concerns over deal size, debt financing, and equity dilution that drove shares down 17%.
FOXA · Regulation · Negative The DOJ is deepening its review of the proposed Roku acquisition, adding regulatory scrutiny to the deal.
ROKU · Capital · Neutral Roku is the acquisition target in Fox's $22B deal, but the article gives no clear directional read on Roku itself.
Townsquare Media and Lakes Media Network Announce Digital Advertising Partnership
Townsquare Media, Inc. announced a strategic digital advertising partnership with Lakes Media Network, a radio and digital advertising platform with six radio brands serving Southside Virginia and Northern North Carolina. Under the agreement, Lakes Media Network's sellers will gain access to Townsquare Ignite's proprietary programmatic platform, advanced audience targeting and transparent performance reporting, allowing clients to run one coordinated campaign across radio, digital and every device. Townsquare launched its Media Partnerships division within Townsquare Ignite in 2024 to bring its digital advertising solutions to other local media companies through a white-label service, with digital now contributing more than half of the Company's total revenue and profit. Shaun Collignon, CRO of Townsquare Ignite, said the partnership lets Lakes Media grow its business without having to build that infrastructure itself. Tom Birch, Owner and President of Lakes Media Network, said the collaboration gives its local and regional clients access to data and comprehensive multi-channel strategies for lead generation, acquisition and engagement.
TSQ · Demand · Positive Townsquare Ignite signs a digital advertising partnership with Lakes Media Network, expanding its programmatic ad platform to new clients.
Lakes Media Network · Demand · Positive Lakes Media Network gains access to Townsquare Ignite's programmatic platform, letting its sellers offer coordinated multi-channel campaigns to clients.
Paramount Skydance Prices $41.4B Notes, €885M Euro Notes
Paramount Skydance said Wednesday it agreed to sell $41.4 billion of senior secured notes, along with €885 million of euro-denominated notes, as part of a debt offering spanning maturities through 2066. The offering includes $30 billion of first-lien notes and $11.4 billion of second-lien dollar notes, with interest rates ranging from 6.30% to 9.125%, and the sale is expected to close Oct. 5, subject to customary closing conditions. The company also priced an incremental term loan facility comprising an $8.5 billion U.S. dollar tranche and a €850 million euro tranche, both maturing in 2033, with the dollar tranche increased from $7.5 billion and a corresponding reduction in the aggregate principal amount of the first-lien notes. Separately, a California federal judge approved Paramount Skydance's settlement with 12 state attorneys general, allowing its $110 purchase of Warner Bros. Discovery to be completed. US District Judge Araceli Martínez-Olguín in Oakland approved the settlement in an order Wednesday.
PSKY · Capital · Neutral Paramount Skydance priced $41.4B of senior secured notes plus €885M euro notes and an $8.5B term loan, a major debt financing event.
PSKY · Regulation · Positive A California federal judge approved the settlement with 12 state attorneys general, clearing the way for its $110 purchase of Warner Bros. Discovery.
WBD · Regulation · Positive The court approval of the settlement allows Paramount Skydance's acquisition of Warner Bros. Discovery to be completed.
US court approves Paramount's Warner acquisition; Mattel's Kreiz to become co-CEO
A US federal court on the 30th issued an order approving the completion of US media giant Paramount's acquisition of Warner Bros., moving forward a deal that had been stalled for months. US District Judge Martinez-Orguin approved a settlement reached on September 21 with 12 states led by California. Under the settlement, the combined company must release at least 30 films in US theaters each year for five years and add 300 million dollars a year to its US production spending; if it fails to meet the release threshold, it could be forced to sell the distributor Miramax. The two companies also settled an antitrust lawsuit brought by the Writers Guild of America, agreeing to pay 17.5 million dollars into the union's health fund and to maintain union member employment levels at CBS News for five years. Paramount announced that Ynon Kreiz, CEO of US toy giant Mattel, will serve as co-CEO to lead the combined company; Kreiz will join on the 5th and become co-CEO alongside Chairman and CEO David Ellison when the acquisition closes, overseeing day-to-day operations and integration. The two companies said the acquisition is expected to be completed on the 6th.
PSKY · Regulation · Positive US federal court approves Paramount's acquisition of Warner Bros., clearing the regulatory/antitrust hurdle that had stalled the deal.
WBD · Regulation · Positive Court approval of the settlement clears the antitrust obstacles, allowing Warner Bros. Discovery to be acquired by Paramount.
Miramax · Regulation · Negative Under the settlement, the combined company could be forced to sell distributor Miramax if it fails to meet the 30-films-per-year theatrical release threshold.
MAT · · Neutral Mattel CEO Ynon Kreiz named co-CEO of the combined Paramount-Warner company, a leadership change but no stated impact on Mattel's own business.
Paramount Skydance and Warner Bros. Discovery expect to close merger on Oct. 6
Paramount Skydance and Warner Bros. Discovery said on Wednesday, Sept. 30, that they expect their merger to be completed on Oct. 6, combining the entertainment and streaming businesses of the two U.S. media companies. The merger agreement announced in February calls for Warner Bros. Discovery shareholders to receive $31 per share in cash, and if the deal closes after Sept. 30, shareholders will receive an additional $0.00277778 per share for each day of delay until the transaction is completed. If the deal closes on Oct. 6 as scheduled, Warner Bros. Discovery shareholders will receive a total of $31.01666668 per share. Both companies also said the closing remains subject to customary conditions. After the merger, Warner Bros. Discovery's businesses, which include HBO Max, Warner Bros., CNN and Discovery, will be combined with Paramount Skydance's assets, which include Paramount Pictures, CBS, Nickelodeon, Paramount+ and Pluto TV. The transaction marks a major consolidation in the global media industry as companies seek greater scale in the film, television and streaming sectors.
PSKY · Capital · Positive Paramount Skydance expects to close its merger with Warner Bros. Discovery on Oct. 6, combining the two media companies.
WBD · Capital · Positive Warner Bros. Discovery shareholders will receive $31 per share cash plus a delay premium, with the merger expected to close Oct. 6.
Mattel CEO to step down, Condé Nast's Lynch named successor; Kreiz to become Paramount co-CEO
U.S. toy giant Mattel announced on the 30th that Chief Executive Officer Ynon Kreiz is stepping down and that Roger Lynch, CEO of publishing giant Condé Nast, will be promoted to succeed him. Lynch has served on Mattel's board since 2018 and is expected to take over as CEO by November 2. U.S. media giant Paramount Skydance announced the same day that it will bring in Kreiz as co-CEO effective October 5, with him also serving on the board. The company has signed a deal to acquire Warner Bros. Discovery for about 110 billion dollars. Meanwhile, Condé Nast, where Lynch has served as CEO for about seven years, has named board member Mike Parisi as interim CEO. Kreiz pushed forward Mattel's transformation into an entertainment company and expanded the business, including the blockbuster film "Barbie" in 2023, but now faces higher tariffs on imported goods under the Trump administration and pressure from activist investors.
Paramount Skydance Prices $41.4 Billion and €885 Million Notes, $8.5 Billion and €850 Million Term Loan B
Paramount Skydance Corporation has agreed to sell $41.4 billion and €885 million in senior secured notes and priced an $8.5 billion and €850 million incremental Term Loan B facility, with the proceeds earmarked for its acquisition of Warner Bros. Discovery. The notes offering comprises $30 billion of first lien senior secured notes across eight tranches, from $3.5 billion of 6.30% notes due 2028 to $1.25 billion of 8.90% notes due 2066, alongside $11.4 billion and €885 million of second lien senior secured notes, including $6 billion aggregate principal amount of 8.250% Senior Secured Second Lien Notes due 2031, €885 million of 7.000% second lien notes due 2031, $4 billion of 8.875% notes due 2034 and $1.4 billion of 9.125% notes due 2036. The Incremental Term B Facility consists of an $8.5 billion U.S. dollar tranche, increased from $7.5 billion as previously announced with a corresponding reduction in the first lien notes, and a €850 million euro tranche; the dollar tranche is issued at 99.75% of face value and bears interest at Term SOFR plus 2.75% per annum, while the euro tranche is issued at 100% of face value and bears interest at EURIBOR plus 2.75% per annum, with the facility maturing in 2033. The notes sale is expected to close on October 5, 2026, subject to customary closing conditions. Paramount Skydance intends to use the net proceeds, together with cash on hand, borrowings under previously announced term loan financings and the net proceeds of its previously announced equity financing, to finance the purchase price for its acquisition of Warner Bros. Discovery and repay certain existing debt, and it noted that consummation of the notes offerings is not a condition to the acquisition.
PSKY · Capital · Neutral Paramount Skydance prices $41.4B and €885M in notes plus $8.5B/€850M Term Loan B to fund its Warner Bros. Discovery acquisition, a major debt-financing event.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being financed by Paramount Skydance's notes and term loan proceeds.
Paramount and Warner Bros. Discovery Expect Merger to Close Oct 6
Paramount Skydance and Warner Bros. Discovery said on Wednesday they expect their merger to close on Oct. 6, bringing the two U.S. media companies closer to combining their entertainment and streaming businesses. The companies said the closing remains subject to customary conditions. The merger agreement, announced in February, provides for WBD shareholders to receive $31 in cash per share, with an additional payment of $0.00277778 for each calendar day after Sept. 30 until the deal closes. If the transaction closes on Oct. 6 as expected, WBD shareholders will receive $31.01666668 per share, the companies said. The deal would combine WBD's portfolio, which includes HBO Max, Warner Bros., CNN and Discovery, with Paramount's assets including Paramount Pictures, CBS, Nickelodeon, Paramount+ and Pluto TV, marking a major consolidation in the global media industry as companies seek greater scale in film, television and streaming.
Judge Approves Settlement Clearing Paramount's $111-Billion Warner Bros. Discovery Deal
A federal judge in Oakland has approved a settlement allowing Paramount Skydance Chief Executive David Ellison to finalize his $111-billion acquisition of Warner Bros. Discovery, a deal that could close by early next month. The five-year consent decree requires the combined Paramount-Warner Bros. to release 30 films in theaters each year, commit an additional $1.5 billion to domestic film production and set aside $47.5 million for workers who may be adversely affected by the merger. It also creates a five-member panel to monitor editorial independence at CBS News and CNN, though critics note the Ellisons control the board appointments, and bars Paramount from selling or closing its Melrose Avenue campus in Hollywood or the larger Warner Bros. lot in Burbank, which must be operated in a manner consistent with past practices for at least five years. An independent monitor is expected to oversee implementation, and Paramount will face restrictions on how it wields clout in negotiations over distribution of its basic cable TV channels. The merger has been unpopular in Hollywood, with opponents accusing California Atty. Gen. Rob Bonta, who led negotiations with Paramount, of caving to political pressure from Gov. Gavin Newsom and Los Angeles Mayor Karen Bass, who publicly urged him to abandon his court fight in favor of settlement talks.
PSKY · Capital · Positive Judge approves settlement clearing Paramount Skydance's $111-billion acquisition of Warner Bros. Discovery, allowing the deal to close.
WBD · Capital · Positive Settlement approval clears the way for Warner Bros. Discovery to be acquired by Paramount Skydance in the $111-billion deal.
CNN · Regulation · Neutral Settlement creates a five-member panel to monitor editorial independence at CNN, though critics note the Ellisons control board appointments.
SES and Sky Extend Satellite Capacity Deal Into Next Decade
SES and Sky have signed a new multi-year agreement extending their long-standing partnership for direct-to-home satellite services across the United Kingdom and Republic of Ireland, running into the next decade. Under the deal, Sky will continue to use SES satellite capacity at the 28.2 degrees East orbital position to deliver television services to millions of households in the region. The renewal extends a partnership that dates to 1988 and reinforces satellite's ongoing role in delivering premium television experiences at scale. Sky Group Chief Operating Officer Nick Herm said satellite continues to play an important role in how the company delivers services to customers across the UK and Ireland, while SES President Media Vertical Deepak Mathur called the significant multi-year renewal a demonstration of the confidence leading broadcasters continue to place in satellite. SES is headquartered in Luxembourg and listed on the Paris and Luxembourg stock exchanges under the ticker SESG.
SESG.PA · Demand · Positive SES signed a multi-year renewal with Sky to continue providing satellite capacity at 28.2°E for DTH TV across UK and Ireland.
Sky Group Limited · Supply · Positive Sky secured continued SES satellite capacity at 28.2°E to deliver TV services to millions of households into the next decade.
KGEN hints at strong Q3 as OJMT plant output tops 20,000 vehicles
Kanit Srivachiraprapha, Chairman of the Advisory Board of King Gen Public Company Limited, or KGEN, disclosed that the company's third-quarter 2026 operating results are clearly improving over the second quarter of 2026, driven by higher car sales and by the Omoda & Jaecoo Manufacturing (Thailand) Company Limited, or OJMT, vehicle assembly plant, which has continued to expand production capacity, pushing profit margins higher. Cumulative output at the plant has now passed the 20,000-vehicle mark, and it is currently producing more than 4,000 vehicles a month. The company plans to hold a shareholders' meeting to raise 252 million baht in capital for Rayong Wire Industries Public Company Limited, or RWI, on 22 October, with the funds expected between 26 October 2026, and will use the money to increase its stake in the OJMT plant from 51% to 60%. As a result, in the fourth quarter of 2026 KGEN will fully consolidate the plant's sales and operating results into its financial statements, driving total revenue growth to jump sharply. This year output is expected at around 40,000 vehicles, while for 2027 the target is to run at full capacity of 80,000 vehicles a year. Most recently, the company launched the iCAUR V27 REEV, a hybrid model with a maximum driving range of 1,000 kilometres, starting at just 999,900 baht, with deliveries beginning on 1 October. It has drawn more than 3,000 bookings at the Big Motor Sale event.
KGEN.BK · Capital · Positive KGEN's Q3 2026 results are clearly improving on higher car sales and expanded OJMT output, with full consolidation of the plant from Q4 set to sharply lift revenue.
KGEN.BK · Demand · Positive The newly launched iCAUR V27 REEV drew over 3,000 bookings at the Big Motor Sale event, signaling strong end-customer demand.
RWI.BK · Capital · Positive RWI shareholders will meet on 22 October to raise 252 million baht in capital, with funds expected from 26 October 2026.
Omoda & Jaecoo Manufacturing (Thailand) · Supply · Positive OJMT's assembly plant has expanded capacity past 20,000 cumulative vehicles and now produces over 4,000 vehicles a month, with output targeted at 40,000 this year and 80,000 in 2027.
KGEN to raise OJM Thailand stake to 60% by late October
King Gen, or KGEN, is preparing to increase its stake in OJM Thailand from roughly 51% at present to 60% by late October, with the new investor group expected to inject funds around October 26 under the terms set out in the contract. The increased stake will allow KGEN to fully consolidate the plant's financial statements and sales into its own accounts from the fourth quarter onward. Khanit Sivachiraprapha, chairman of KGEN's advisory board, said overall operations in the third quarter of 2026 are likely to keep growing, with the plant having started operations on April 20. It has now produced more than 20,000 vehicles in cumulative output, or an average capacity of more than 4,000 vehicles a month, and third-quarter results are expected to beat the second quarter in both sales and profit margins, helped by lower production costs and a higher share of locally sourced parts under government policy. For next year, the company is targeting production at full capacity of about 80,000 vehicles a year, with some of that output earmarked for export markets. The current plant covers about 14 rai, with an extension site for vehicle inspection and pre-delivery preparation located roughly one kilometre away. In the auto market, on September 29 Chery and iCar Thailand launched ICAUR in Thailand with the Icaur V27 Reev, a Premium Classic Boxy SUV, offering three variants priced from 999,900 baht and up to 1,259,900 baht for the top model. First deliveries begin early this month, and the entire import quota of 1,000 vehicles has already been fully booked, with reservations filled about three months ago.
Paramount Skydance Plans $44.4 Billion Notes Offering for Warner Bros. Discovery Deal
Paramount Skydance is preparing to raise about $44.4 billion through senior secured notes to help finance its acquisition of Warner Bros. Discovery. The planned financing includes U.S. dollar-denominated first-lien notes as well as second-lien notes denominated in U.S. dollars and euros. Paramount said proceeds will be used to help fund the Warner Bros. Discovery acquisition and repay certain existing debt, alongside cash on hand and previously announced debt and equity financing. The final structure has not yet been set, with principal amounts, interest rates, currencies and maturities still subject to market and other conditions, and Paramount said completion of the notes offering is not a condition for closing the acquisition. At about $44.4 billion, the proposed notes offering is roughly four times Paramount's current market capitalization of about $11.2 billion, and Paramount shares fell about 2.2% Monday to $9.96.
PSKY · Capital · Negative Paramount plans a $44.4B senior secured notes offering — roughly four times its market cap — to finance the Warner Bros. Discovery acquisition, raising leverage concerns.
WBD · Capital · Neutral Warner Bros. Discovery is the acquisition target being funded by Paramount's $44.4B notes offering; no direct standalone impact on WBD stated.
Gray Media Raises Third Quarter 2026 Political Ad Guidance, Lifts Low End of Revenue Range
Gray Media has raised its third quarter 2026 political advertising guidance and lifted the low end of its total revenue range, according to an update issued in connection with lender meetings to potentially refinance its credit facility. The Atlanta-based broadcaster now expects political advertising revenue of $188 million to $195 million for the quarter ending September 30, 2026, up from its August 7, 2026 guidance of $165 million to $185 million, while core advertising is now expected to be down 1% to flat as reported, compared with prior guidance of flat as reported. Total revenue guidance was narrowed and lifted to $950 million to $965 million from $935 million to $965 million, and total corporate and administrative expense guidance was lowered to $30 million to $35 million from $35 million to $40 million. Gray said it currently anticipates no outstanding borrowings under its Revolving Credit Facility as of September 30, 2026, and that borrowing capacity under its Accounts Receivable Securitization facility is approximately $379 million, reflecting lower core commercial receivables driven by strong political advertising revenues, which are paid in advance. The company expects to report its third quarter 2026 financial results on Friday, November 6, 2026, and to host its quarterly investor call at 11AM that morning.
GTN · Capital · Positive Gray Media raised Q3 2026 political ad guidance and lifted the low end of its total revenue range while lowering expense guidance, in connection with lender meetings to refinance its credit facility.
Paramount Settles With California and 11 States Over $81 Billion Warner Bros. Discovery Bid
Paramount Skydance Corporation settled with California and 11 other states in late September 2026, clearing the biggest legal obstacle to its $81 billion pursuit of Warner Bros. Discovery, Inc. The terms commit Paramount to at least $1.5 billion of additional U.S. production spending over five years, a minimum of 30 films released annually, keeping its Los Angeles studio lots, funding workforce training, and building editorial-independence safeguards for CNN and CBS News. No major structural changes were required upfront, though the agreement leaves room for penalties and includes forced asset sales if Paramount fails to meet its commitments. The settlement also requires roughly $650 million of quarterly payments, or about $7 million per day, after October 1 if closing slips. Hedge fund holders of Warner Bros. Discovery rose to 101 in the second quarter of 2026 from 94, with position value climbing to $11.58 billion from $9.31 billion, while Paramount's hedge fund count grew to 38 from 30 even as position value slipped to $368.8 million from $370.5 million.
PSKY · Regulation · Positive Settlement with California and 11 states clears the biggest legal obstacle to its $81B Warner Bros. Discovery bid, though it adds $1.5B production spending and penalty commitments.
WBD · Capital · Positive Paramount's $81B acquisition pursuit of Warner Bros. Discovery advances as the key state legal obstacle is settled.
Paramount Settles Suits, Clearing Path for $110 Billion Warner Bros. Discovery Deal
Paramount Skydance has settled the legal challenges brought by California and 11 other states and the Writers Guild of America, removing major obstacles to its $110 billion acquisition of Warner Bros. Discovery. The development sent WBD shares up more than 10% on September 21, according to Reuters. Under the state agreement, Paramount committed to spending at least $300 million more each year on domestic film production compared with 2025 levels, to produce 30 theatrical films annually in each of the first two years covered by the settlement and 32 annually in each of the following three years, with at least four films a year independent productions and at least 20% blockbusters, and to pay $30 million for each film it falls short of the required annual output. Paramount also agreed not to raise rates on theater operators for three years and to establish an editorial independence board for CNN and CBS, concessions that let it avoid an immediate forced sale of cable assets such as CNN or its film franchises. Reuters estimates Paramount would owe WBD shareholders roughly $7 million per day after September 30, and the companies have said the combination is expected to generate more than $6 billion in synergies while Reuters reported the combined company is expected to carry $80 billion in debt.
KGEN to open OJMT plant for EV production, adds FARIZON brand, targets return to profit in 2026
King Gen Public Company Limited, or KGEN, is pushing ahead with a major strategic shift into an EV ecosystem, spearheaded by the OMODA & JAECOO electric vehicle assembly plant, or OJMT, and is preparing to add the commercial electric vehicle brand FARIZON as a new S-Curve. The OJMT plant will begin full commercial production in 2026, and is currently ramping up capacity by adding a second shift, lifting output from roughly 5,000 vehicles per month to about 8,000 vehicles per month, an increase of approximately 60%. Trinity Securities estimates OJMT sales of about 40,000 vehicles in 2026, rising to 50,000 in 2027 and 60,000 thereafter. FARIZON, meanwhile, targets sales of about 2,000 vehicles in 2026, rising to 3,000 and then 4,000 thereafter. For the second half of 2026, the company targets electric vehicle sales of about 20,000 units through the JAECOO, OMODA, LEPAS and CHERY brands, at an average price of about 500,000 to 700,000 baht per vehicle, supported by a network of more than 200 partner showrooms. On the transport side, Montri Transport has a backlog of nearly 1,000 vehicles from private-sector B2B customers, worth a combined total of more than 1 billion baht. Trinity expects KGEN to stage a clear turnaround in 2026, with revenue rising to 24.96 billion baht from 718 million baht in 2025, before climbing to 33.06 billion baht in 2027, or growth of about 32% year on year, and net profit swinging from a loss of 136 million baht in 2025 to a profit of 504 million baht in 2026 and 692 million baht in 2027, or growth of about 37% year on year. It also sets a 2026 fair value of 2.90 baht, based on a price-to-earnings ratio of 12 times and 2026 earnings per share of 0.24 baht, and if all warrants are exercised and dilution occurs, the fair value would be 2.38 baht.
KGEN.BK · Capital · Positive Trinity Securities forecasts KGEN swinging from a 136M baht loss in 2025 to a 504M baht profit in 2026 with a 2.90 baht fair value.
KGEN.BK · Demand · Positive OJMT EV plant ramping to 8,000 vehicles/month and FARIZON brand targeting 2,000+ EV sales, with Trinity projecting 40,000 OJMT vehicles in 2026.
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