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Skydance shares fall on warrant issuance
Skydance Corp. distributed nearly 471 million stock warrants to shareholders after completing its $110 billion acquisition of Warner Bros. Discovery. The warrants, exercisable at $12 per share, could raise approximately $5.7 billion if fully exercised and are set to expire in October 2036. The merger, which included brands like CBS, CNN, and HBO Max, aims to enhance Skydance's competitiveness in streaming and technology markets.
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