Story
Paramount Skydance to Move Stock Listing to NYSE From Nasdaq
Summary
The media giant announced it will transfer its Class B common stock listing to the New York Stock Exchange in early October, a move that coincides with its pending $110 billion acquisition of Warner Bros.
Paramount Skydance will move the listing of its Class B common stock to the New York Stock Exchange (NYSE) from the Nasdaq, the company announced on Friday. The change is scheduled to take place in early October, marking a significant transition for the newly combined media entity.
Details of the Transition
The company has outlined a clear timeline for the switch. Key dates for investors include:
- Trading on the Nasdaq is expected to cease at market close on or around October 5.
- Trading on the NYSE is scheduled to begin at the market open on October 6.
Companies typically change listing venues to better align with an exchange's investor base and services, or to reduce costs associated with listing and compliance. The NYSE has traditionally been home to major industrial and financial firms, while the Nasdaq is known for its concentration of technology stocks.
AdBroader Corporate Context
The move comes at a pivotal time for Paramount Skydance, which is nearing the close of its $110 billion deal to acquire Warner Bros. The company recently settled a legal dispute with a group of U.S. states and a Hollywood writers union, clearing a path for the merger's completion.
In a related development, Paramount Skydance has also set October 5—its last anticipated day of trading on the Nasdaq—as the record date for a planned distribution of warrants to eligible Class B common stockholders. This distribution is directly connected to the pending Warner Bros transaction.
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