As of July 10, 2026, roughly 28.28% of the tender offer notes and 47.09% of the exchange offer notes had been validly submitted. Despite these figures, Paramount management indicated they do not view current participation as representative of the final outcome, given the extended window intended to synchronize settlement with the acquisition’s completion. The company maintains the flexibility to further adjust these dates to ensure settlement occurs on or within one business day of the transaction’s closing.

The offers involve a broad range of senior notes originally issued by Discovery Communications and Discovery Global Holdings. Participation remains restricted to qualified institutional buyers and non-U.S. persons under specific regulatory exemptions. Paramount has engaged BofA Securities and Citigroup to manage the process, while emphasizing that the offers are independent and subject to individual termination or modification at the company's discretion.