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Paramount Skydance Corporation (PSKY) in Talks with Pentwater Founder Matthew Halbower Over Potential Warner Bros. Discovery Board Seat
Paramount Skydance Corporation (PSKY) in Talks with Pentwater Founder Matthew Halbower Over Potential Warner Bros. Discovery Board Seat
Jeff Lewis
Wed, February 18, 2026 at 1:40 PM GMT+9 2 min read
In this article:
WBD
+2.72%
PSKY
+4.94%
Paramount Skydance Corporation (NASDAQ:PSKY) is among the 11 Best Entertainment Stocks to Buy According to Wall Street.
Paramount Skydance Corporation (PSKY) in Talks with Pentwater Founder Matthew Halbower Over Potential Warner Bros. Discovery Board Seat
On February 12, 2026, Reuters reported that Paramount Skydance Corporation (NASDAQ:PSKY) is in talks with Matthew Halbower, founder of Pentwater Capital Management and the seventh-largest investor in Warner Bros. Discovery, about potentially running for a seat on Warner’s board. The move is aimed at opposing Warner’s proposed tie-up with Netflix. Halbower told Reuters he would consider becoming a director candidate later this year if Paramount pursues a board fight. “I want the board of Warner Bros to exercise their fiduciary duties and negotiate with Paramount,” he said, adding that if the board fulfills those responsibilities, there would be no need for him to join.
On February 10, 2026, Paramount Skydance announced it amended its $30 per share, all-cash tender offer to acquire Warner Bros. Discovery, describing the revised proposal as offering superior value and certainty. The enhanced terms include an additional $0.25 per share in cash for every quarter the transaction is not completed beyond December 31, 2026, funding of the $2.8 billion termination fee tied to the Netflix agreement, and a full backstop of Warner’s debt exchange offer to eliminate a potential $1.5 billion financing cost. Paramount also said it would reimburse shareholders for that $1.5 billion fee if the exchange fails and the transaction does not close, without reducing the separate $5.8 billion reverse termination fee. The company added that its financing package includes an irrevocable personal guarantee from Larry Ellison of $43.3 billion to cover equity financing and potential damages claims. Chairman and CEO David Ellison said the revised offer underscores Paramount’s commitment to delivering full value to WBD shareholders with certainty around financing and regulatory execution.
Paramount Skydance Corporation (NASDAQ:PSKY) operates as a global media and entertainment company across its Studios, Direct-to-Consumer, and TV Media segments.
While we acknowledge the potential of PSKY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 10 Most Profitable Undervalued Stocks to Buy and 11 Best Mining Stocks to Buy According to Wall Street.
Disclosure: None.
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