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Skydance Shares Skid Down 25% After Company Issues 471 Million Stock Warrants to Paramount Investors
Shares of Skydance Corp., formed through the merger of Paramount and Warner Bros. Discovery, fell as much as 25% in trading on Oct. 14. The drop came as the Skydance, led by chairman and CEO David Ellison, distributed about 471 million warrants giving holders of Paramount Skydance's PSKY Class B shares the option to purchase stock in the new company.
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