Paramount to Move Class B Shares Listing From Nasdaq to NYSE

Paramount Global said on Friday it plans to begin moving the listing of its Class B common stock from Nasdaq to the New York Stock Exchange in early October. The company notes that the exact timing could change depending on the status of its still-pending $110 billion merger with Warner Bros. Discovery.

Under the current timetable, listing and trading of Class B shares would end at the close of the market on October 5 and would begin on the NYSE the following day, October 6, subject to change. The move is being executed with Paramount’s board having authorized the shift, per an SEC filing.

Warrants to purchase Class B shares are expected to be distributed on October 13, contingent on the merger closing. The filing also indicates the ultimate timing for the WBD deal is uncertain and the company may cancel or postpone the exchange if the merger does not close as planned.

If the deal remains unsettled, Paramount could face further pressure from the agreement’s terms. The consent decree governing commitments tied to the merger—covering domestic production, worker retraining, annual theatrical releases, and separate pay-TV negotiations—remains in place for five years and has drawn criticism from some observers. Federal regulators had already approved the transaction.

In the filing, Paramount stressed that the merger is subject to additional closing conditions and that the closing timing, if any, is not certain. The company also noted it could alter or reverse the move depending on how the regulatory and merger trajectory unfolds.

Source: Deadline

Photo by Rômulo Queiroz on Pexels