Technology
AI Revolutionizes the Software-Defined Vehicle Market, Growth of USD 76.1 Billion Driven by Autonomous Vehicles (2024-2028) – Technavio Report
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2 years agoon
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NEW YORK, Sept. 12, 2024 /PRNewswire/ — Report with market evolution powered by AI- The global software-defined vehicle (SDV) market size is estimated to grow by USD 76.12 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 22.73% during the forecast period. Increasing demand for autonomous vehicles is driving market growth, with a trend towards integration of advanced safety technologies in luxury cars . However, decline in automotive production due to global shortage of semiconductor chips poses a challenge. Key market players include Arm Ltd., Arorian Technologies GmbH, BlackBerry Ltd., Bluekei Solutions Pvt.Ltd., Continental AG, ETAS GmbH, Expleo Group SAS, Keysight Technologies Inc., Larsen and Toubro Ltd., Li Auto Inc., MulticoreWare Inc., NCC Group Plc, NIO Ltd., NTT DATA Corp., NXP Semiconductors NV, Real-Time Innovations Inc., Rivian Automotive LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, TE Connectivity Ltd., Tesla Inc., u blox AG, Vector Informatik GmbH, XPeng Inc., and Zhejiang Geely Holding Group Co. Ltd..
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Software-Defined Vehicle (Sdv) Market Scope
Report Coverage
Details
Base year
2023
Historic period
2018 – 2022
Forecast period
2024-2028
Growth momentum & CAGR
Accelerate at a CAGR of 22.73%
Market growth 2024-2028
USD 76121.8 million
Market structure
Fragmented
YoY growth 2022-2023 (%)
21.28
Regional analysis
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 40%
Key countries
US, China, Germany, Canada, and UK
Key companies profiled
Arm Ltd., Arorian Technologies GmbH, BlackBerry Ltd., Bluekei Solutions Pvt.Ltd., Continental AG, ETAS GmbH, Expleo Group SAS, Keysight Technologies Inc., Larsen and Toubro Ltd., Li Auto Inc., MulticoreWare Inc., NCC Group Plc, NIO Ltd., NTT DATA Corp., NXP Semiconductors NV, Real-Time Innovations Inc., Rivian Automotive LLC, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Siemens AG, TE Connectivity Ltd., Tesla Inc., u blox AG, Vector Informatik GmbH, XPeng Inc., and Zhejiang Geely Holding Group Co. Ltd.
Market Driver
The automotive industry is experiencing a shift towards safer and more reliable vehicles, particularly in the luxury segment. With growing concerns over road safety and increasing customer demand for advanced safety features, automotive Original Equipment Manufacturers (OEMs) are incorporating technologies such as emergency brake assist, lane departure warning systems, collision mitigation warning, blind-spot detection, and automatic emergency braking systems. These safety technologies have higher penetration rates in sedans than in SUVs, but are now being introduced on a larger scale in crossovers. Customers’ preferences for safety systems, coupled with safety awareness and ratings by automotive bodies like the New Car Assessment Program (NCAP), have driven the focus on safety features. For instance, the Australasian New Car Assessment Program (ANCAP) conducts safety tests, including frontal crashworthiness and side-impact tests, to determine a vehicle’s safety quotient. These ratings significantly influence customers’ purchasing decisions. In response, automakers are integrating Software-Defined Vehicles (SDV) to enhance safety and meet customer demands. SDVs enable the integration of advanced safety systems and connectivity features, providing real-time data processing and improved vehicle performance. This shift towards SDVs is expected to positively impact the luxury vehicle market during the forecast period.
The Software-Defined Vehicle (SDV) market is experiencing significant growth, particularly in the area of Hybrid Electric Vehicles (HEVs). Key trends include the use of Hybrid powertrains, Battery Management Systems, Electric Motor Control, Energy Regeneration, Human-Machine Interfaces (HMIs), and Cybersecurity. These innovations aim to improve vehicle performance, efficiency, and safety. SDVs also face challenges such as Safety and Environmental Regulations, Hardware configurations, Faults, and Recall campaigns. Logistical challenges arise from the need for Over-the-Air updates and Online fixes, which require Cybersecurity measures to prevent cyberattacks. The market is also seeing advancements in areas like Infotainment, Connectivity and Security, Autonomous Driving, Navigation, and V2X Communication. However, the complexity of these Software systems can lead to operational costs and potential risks from Remote Hacking. The future of the SDV market lies in balancing innovation with security and regulatory compliance.
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Market Challenges
The global semiconductor chip shortage is negatively impacting the automotive industry and, consequently, the growth of the software-defined vehicle (SDV) market. As vehicles become more reliant on advanced electronic systems and software-driven functionalities, the disrupted automobile manufacturing process due to the chip shortage has led to production delays and reduced output. Automakers are prioritizing critical vehicle components, causing delays in software development and integration investments. This bottleneck hinders the adoption of innovative software-driven technologies and stifles revenue opportunities for SDV vendors. The chip shortage has forced carmakers to idle production lines, resulting in reduced automotive production in various parts of the world. For instance, Ford Motor Co. And Renault have announced production reductions due to chip shortages. This production slowdown will hinder the growth of the global SDV market during the forecast period.The Software-Defined Vehicle (SDV) market is experiencing rapid growth as technologically advanced vehicles become the norm. OEMs and Tier 1 hardware providers collaborate to create safer, more connected vehicles. However, challenges persist. Safety protocols and encryption procedures are crucial for secure SDV platforms. Monetization through software-centric business models and continuous customer engagement are essential. Remote diagnostics, fleet management, and software updates are key features. Security patching and vehicle safety are top priorities, as interconnected systems increase vulnerabilities to cyber threats. Standardizing hardware and autonomous driving technology are critical to overcoming legacy OEMs’ resistance to software upgrades. SemiSDVs offer a middle ground, while cloud-native technologies and opensource platforms enable innovation. Driving assistance, connectivity, digitalization, and electrification are driving the market forward. NIO, Tesla, and other automotive manufacturers are leading the charge towards autonomous driving and electrification, using advanced technologies like sensor fusion and vehicle-to-everything (V2X) communication. The future of the SDV market is bright, but addressing cybersecurity concerns and ensuring standardization will be crucial for success.
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Segment Overview
This software-defined vehicle (sdv) market report extensively covers market segmentation by
Type 1.1 Semi-SDV1.2 SDVVehicle Type2.1 Passenger cars2.2 Commercial vehiclesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa
1.1 Semi-SDV- The Software-Defined Vehicle (SDV) market is experiencing significant growth due to the increasing demand for customizable automobiles and the rapid advancement of technology. Semi-SDVs, a subset of SDVs, are gaining popularity as they allow users to manage and control underlying vehicle hardware and capabilities through software. Infotainment systems, sensors, diagnostics, navigation, and battery charging are just a few functions being simplified by SDV software. This software offers an economical solution for modifying vehicles to meet changing user needs, eliminating the need for costly hardware upgrades. The automotive industry’s focus on comfort and convenience has also driven the development of SDVs. With the competition increasing and sales growing in the global automotive market, the development timeline for innovative SDV technologies and their adoption among Original Equipment Manufacturers (OEMs) are decreasing. Additionally, the increasing dependency on automation technologies in vehicles necessitates improvements in safety and security. Semi-SDVs, which can be controlled both automatically and manually, are designed to meet these requirements while ensuring the driver remains ready to take control. This shift towards semi-SDVs is expected to positively impact the growth of the SDV market.
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Research Analysis
Software-Defined Vehicles (SDVs) represent the future of the automotive industry, offering advanced features and capabilities through complex software systems. Unlike conventional vehicles with fixed hardware configurations, SDVs allow for over-the-air updates, online fixes, and continuous customer engagement. However, these vehicles also present unique challenges. Faults in software can lead to recall campaigns, and logistical challenges arise from the need for constant connectivity and remote diagnostics. Cyberattacks and cyber threats, including remote hacking, are significant concerns due to the interconnected nature of SDVs. Navigation, autonomous driving, and V2X communication are just a few of the advanced technologies enabled by SDVs. However, software development shortcomings, safety protocols, and encryption procedures must be addressed to ensure vehicle safety. Monetization of SDV platforms and a software-centric business model offer new opportunities for OEMs, Tier 1 hardware providers, and chip providers. Standardizing hardware and addressing cyber vulnerabilities are essential to the automotive life prolongation and the adoption of autonomous driving technology. Cloud-native technologies are also crucial for managing fleet operations, software updates, and security patching.
Market Research Overview
Software-Defined Vehicles (SDVs) represent the future of the automotive industry, offering advanced technologies and capabilities that go beyond conventional vehicles. Unlike traditional vehicles with fixed hardware configurations, SDVs allow for over-the-air updates and online fixes, reducing operational costs and improving vehicle safety. However, these complex software systems also present new challenges, such as cyberattacks and vulnerabilities. SDVs enable features like autonomous driving, navigation, and V2X communication through continuous software updates and security patching. The software-centric business model offers opportunities for monetization and customer engagement, while fleet management and remote diagnostics become more efficient. However, SDVs also face logistical challenges, including standardizing hardware and ensuring cybersecurity and safety protocols. OEMs, technologically advanced vehicle manufacturers, and Tier 1 hardware providers collaborate to address these challenges and create a seamless connected ecosystem. SDVs also include semi-SDVs, which offer a hybrid approach between hardware-centric and software-centric designs. The automotive industry’s digitalization and electrification trends further drive the adoption of SDVs, with electric mobility and hybrid powertrains becoming increasingly popular. Despite the benefits, SDVs also present new challenges, such as cyber threats and vulnerabilities, which require ongoing attention and innovation from the industry. The future of the SDV market lies in advanced technologies, autonomous driving, and the integration of cloud-native technologies and opensource platforms.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TypeSemi-SDVSDVVehicle TypePassenger CarsCommercial VehiclesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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This release has been updated to include new information provided by TrendAI. The complete, corrected release follows, with additional details at the end:
TrendAI™ Adopts Claude Opus 5 to Advance Vulnerability Prioritization and Virtual Patching
As a participant in Anthropic’s Cyber Verification Program, TrendAI applies frontier reasoning to convert vulnerability intelligence into faster protection across hybrid environments
DALLAS, July 24, 2026 /PRNewswire/ — TrendAI™, the enterprise AI security leader from Trend Micro Incorporated (TYO: 4704; TSE: 4704), today announced it is adopting Claude Opus 5, Anthropic’s latest and most capable Opus model, to help security teams convert vulnerability intelligence into immediate protection, from prioritization to virtual patching. The move builds on TrendAI’s collaboration with Anthropic on Claude Opus 4.8, extending the same defensive focus to a model that delivers step-change gains in advanced reasoning, agentic workflows, and long-horizon analysis. As AI makes finding vulnerabilities easier than ever, the harder problem becomes protecting organizations faster than software can be permanently patched, and that is where TrendAI is putting Opus 5 to work.
As a participant in Anthropic’s Cyber Verification Program, which credentials organizations for the defensive use of frontier AI models, TrendAI is positioned to apply Claude Opus 5 to defensive security as access becomes available. The model is Zero Data Retention compatible, supporting TrendAI’s governance and data-protection requirements as it scales AI across security operations.
The work extends to TrendAI Threat Research, where frontier AI models are combined with our proprietary frontier intelligence engine and human expertise to generate pre-disclosure intelligence. Those insights power TrendAI Vision One™, delivering stronger detection, deeper forensic insights, and proactive protection through virtual patching.
Rachel Jin, Chief Platform and Business Officer, Head of TrendAI™:
“With Claude Opus 5, TrendAI can move from vulnerability intelligence to action faster than ever, prioritizing what matters most by exploitability and business impact. Finding the vulnerability was always the hard part. Now the challenge is protecting organizations faster than software can be permanently patched, and frontier reasoning is what changes that equation, extending all the way to virtual patching that protects customers before a vendor fix ships. This is what it means to secure the AI age, fearlessly.”
These capabilities support TrendAI Vision One™ in helping security analysts, AppSec teams, and SOC teams prioritize exposure, map attack paths, and accelerate mitigation, including virtual patching, across hybrid environments, moving vulnerability management from a static scanning process into a faster, context-aware risk mitigation workflow.
About TrendAI™
TrendAI™, the global AI security leader and enterprise business unit of Trend Micro, empowers organizations with full AI visibility and consolidated security that inspires confidence, drives innovation, and eliminates risk. Trusted by the largest enterprises and governments across 185 countries, TrendAI™ secures the entire organization, from identities, to infrastructure, to data. Global Fortune 500 companies rely on TrendAI™ to cut risk and stop threats up to three months earlier, powered by world-leading threat and attack intelligence. Through deep ecosystem partnerships with market leaders like NVIDIA, Anthropic, AWS, Google, and Microsoft, TrendAI™ empowers your organization to securely drive forward at the speed of AI. AI Fearlessly. Learn more: trendaisecurity.com
About Anthropic
Anthropic is an AI safety and research company dedicated to building reliable, interpretable, and steerable AI systems. Its Claude family of models, including Claude Opus 5, enables advanced capabilities across a wide range of applications, including code understanding and security analysis.
Update: The latest version of this release includes additional statements from TrendAI related to the original announcement.
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Ralph Ye on 10 Years of Entrepreneurship at CASEKOO: Less Identity Shift, More Habits That Endure
Published
37 minutes agoon
July 24, 2026By
NEW YORK, July 24, 2026 /PRNewswire/ — As CASEKOO approaches its 10th anniversary, founder Ralph Ye says the company’s biggest achievement isn’t measured by units sold, but by how its philosophy has evolved.
Ten years ago, Ye found himself frustrated by a simple problem: his phone wouldn’t stand upright on a fast-food table. Instead of accepting the inconvenience, he saw an opportunity to rethink what a phone case could do.
Today, CASEKOO has sold more than 20 million phone cases across 32 countries. Over the past decade, the company has evolved from creating protective accessories into designing products that fit naturally into everyday life.
“Innovation isn’t about changing identities,” Ye said. “It’s about making meaningful habits easier to keep.”
From Q Line to LinKOO
The evolution of CASEKOO’s product portfolio reflects a broader shift in the company’s design philosophy.
The journey began with the Q Line (Quality Line), a collection of crystal-clear phone cases engineered to deliver premium protection without compromising aesthetics. In 2021, CASEKOO introduced the E Line (Innovation Line), the world’s first phone case with an integrated ring stand. The product earned an iF Design Award and became an Amazon bestseller, demonstrating the market’s appetite for accessories that combined protection with everyday functionality. The X Line (Expression Line) followed, expanding the brand’s focus on personalization and expressive design.
Each product generation introduced new capabilities, but each also reinforced an important insight.
“We moved from Q Line to E Line to X Line, and every generation taught us something about what people actually need,” said Ye. “By the time we introduced The KOO series, we weren’t designing features anymore. We were designing around everyday behaviors.”
Today, the portfolio gives each rhythm a clear name: LinKOO — Link Your Way for hands-free carry, StandKOO — Elevate Your Day for hands-free viewing and grip, and X-LINE — Fit Your Vibe for expressive personalization.
It represents CASEKOO’s transition from designing accessories with added functions to creating products that support everyday habits. For the company, the future of consumer technology lies not in how many features a product offers, but in how seamlessly it integrates into the way people live.
A Philosophy Born from Everyday Life
The inspiration behind LinKOO came from one of Ye’s longest-standing habits.
For nearly two decades, he has left home every day holding his wife’s hand. One evening, while carrying his phone, keys, and wallet in his other hand, he realized how often everyday essentials compete with life’s simplest moments.
That observation inspired ClipSafe™, a foldable clasp integrated into the LinKOO series. Hidden when not in use and deployable with a single press, it allows users to carry everyday essentials without sacrificing comfort or aesthetics.
For CASEKOO, LinKOO is more than a product launch. It represents the company’s belief that technology should adapt to people—not the other way around.
“Ten years ago, we asked how to better protect a phone,” Ye said. “Today, we’re asking how to protect a moment.”
That is what designed to fit you means. That is Less Effort, More Living. And after a decade of iteration, failure, and quiet persistence, CASEKOO has finally arrived—not at an answer, but at a better question.
About CASEKOO
CASEKOO is a design-led lifestyle accessories brand built around a simple idea: freeing your hands in everyday life. Through thoughtful hands-free solutions, we help people move seamlessly between different moments of the day—from active, on-the-go moments to times of focus and connection.
What makes CASEKOO different from a regular phone case? We believe technology should support life, not interrupt it. By designing products that adapt naturally to how people live, work, and move, CASEKOO reduces everyday friction and creates a more effortless experience—making room for freedom, connection, and the moments that truly matter.
For more information, visit: casekoo.com.
Contact:
Charlotte Yu
brandteam@casekoo.com
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Technology
Paramount Skydance Corporation Announces Extension of Expiration Dates of Previously Announced Exchange Offers and Tender Offers
Published
37 minutes agoon
July 24, 2026By
LOS ANGELES and NEW YORK, July 24, 2026 /PRNewswire/ — Paramount Skydance Corporation (NASDAQ: PSKY) (“Paramount”) today announced the extension of the Expiration Dates in connection with the previously announced (i) offers to purchase (the “Tender Offers” and each, a “Tender Offer”) for cash, upon the terms and subject to the conditions set forth in the related offer to purchase (the “Offer to Purchase”), any and all of the identified notes in each series of the Existing Tender Offer Notes (defined by reference to the table set forth below) issued by Discovery Global Holdings, Inc. (formerly WarnerMedia Holdings, Inc.) (the “DGH Issuer”) and Discovery Communications, LLC (the “DCL Issuer” and together with the DGH Issuer, each a “WBD Issuer” and collectively the “WBD Issuers”), as applicable, and (ii) offers to exchange (the “Exchange Offers” and each, an “Exchange Offer” and, together with the Tender Offers, the “Offers” and each, an “Offer”), upon the terms and subject to the conditions set forth in the related exchange offer memorandum (the “Offering Memorandum”), any and all of the identified notes in each series of the Existing Exchange Offer Notes (defined by reference to the table set forth below) (together with the Existing Tender Offer Notes, the “Offer Notes”) issued by the applicable WBD Issuer for notes to be newly issued by Paramount.
The Expiration Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) have been extended to 5:00 p.m., New York City time, on August 7, 2026, unless further extended. The Settlement Dates for the Tender Offers and Exchange Offers (as defined in each of the Offer to Purchase and Offering Memorandum, respectively) will occur promptly after the Expiration Date and are currently anticipated to occur in the third quarter of 2026. Paramount anticipates extending the Expiration Date for such Tender Offers and Exchange Offers until such time that would result in the Settlement Dates occurring on or promptly following the closing date of the proposed acquisition (the “Acquisition”) by Paramount of Warner Bros. Discovery, Inc. (“WBD”). Tenders of the Offer Notes in the Offers may be withdrawn at any time prior to the Expiration Date. The aforementioned extensions further extend the Expiration Dates previously extended by Paramount on June 12, 2026, June 26, 2026, July 13, 2026, and July 17, 2026.
As of 5:00 p.m., New York City time, on July 23, 2026, approximately 66.17% and 76.38% of the aggregate principal amount of the Existing Tender Offer Notes and Existing Exchange Offer Notes, respectively, have been validly tendered in the applicable Offers. As Paramount previously announced that it anticipates extending the Offers to align with the closing date of the Acquisition, Paramount does not view these figures to be representative of the final results of the applicable Offers.
Information about each series of Offer Notes eligible to participate in the Offers is summarized below.
Type of Offer
Offer Notes to be Tendered
or Exchanged, as
Applicable
Issuer of Offer Notes
CUSIP No. / Common Code
/ ISIN Eligible to
Participate in the Offers (1)
Aggregate Principal
Amount of Offer Notes
Eligible to Participate in the
Offers (2)
Tender Offer
3.950% Senior Notes due 2028
DCL Issuer
25470D CP2
US25470DCP24
$1,234,458,000
Exchange Offer
4.125% Senior Notes due 2029
DCL Issuer
25470D CQ0
US25470DCQ07
$655,825,000
Exchange Offer
3.625% Senior Notes due 2030
DCL Issuer
25470D CR8
US25470DCR89
$914,183,000
Exchange Offer
5.000% Senior Notes due 2037
DCL Issuer
25470D CS6
US25470DCS62
$453,281,000
Exchange Offer
6.350% Senior Notes due 2040
DCL Issuer
25470D CT4
US25470DCT46
$438,102,000
Exchange Offer
4.950% Senior Notes due 2042
DCL Issuer
25470D CU1
US25470DCU19
$130,366,000
Exchange Offer
4.875% Senior Notes due 2043
DCL Issuer
25470D V91 CV9US25470DC
$141,584,000
Exchange Offer
5.200% Senior Notes due 2047
DCL Issuer
25470D W74 CW7US25470DC
$3,161,000
Exchange Offer
5.300% Senior Notes due 2049
DCL Issuer
25470D X57 CX5US25470DC
$247,860,000
Tender Offer
3.755% Senior Notes due 2027
DGH Issuer
254948 AH5
US254948AH58
254948 AN2
US254948AN27
U25483 AA3
USU25483AA38
$1,189,336,000
Exchange Offer
4.054% Senior Notes due 2029
DGH Issuer
254948 AJ1
US254948AJ15
254948 AP7
US254948AP74
U25483 AB1
USU25483AB11
$1,353,828,000
Exchange Offer
4.279% Senior Notes due 2032
DGH Issuer
254948 AK8
US254948AK87
254948 AQ5
US254948AQ57
$2,691,764,000
Exchange Offer
5.050% Senior Notes due 2042
DGH Issuer
254948 AL6
US254948AL60
254948 AR3
US254948AR31
U25483 AD7
USU25483AD76
$4,104,687,000
Exchange Offer
5.141% Senior Notes due 2052
DGH Issuer
254948 AM4
US254948AM44
254948 AS1
US254948AS14
$949,883,000
Exchange Offer
4.302% Senior Notes due 2030
DGH Issuer
XS3393993285
339399328
€234,382,000
Exchange Offer
4.693% Senior Notes due 2033
DGH Issuer
XS3393994507
339399450
€316,641,000
1
No representation is made as to the correctness or accuracy of the identifiers listed in this press release or printed on the Offer Notes. Such identifiers are provided solely for the convenience of the holders.
2
Represents the aggregate principal amount of Offer Notes outstanding that are eligible to participate in the Offers.
The Exchange Offers are being made pursuant to an exemption from the registration requirements of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and the rules and regulations of the Securities and Exchange Commission (the “SEC”) promulgated thereunder, and are also not being registered under any state or foreign securities laws. Any securities offered pursuant to the Exchange Offers may not be offered or sold in the United States or to any U.S. persons (as defined below) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The Exchange Offers will only be made, and the securities offered pursuant to the Exchange Offers are only being offered and issued, to holders of applicable Existing Exchange Offer Notes who are (a) reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the Securities Act or (b) not “U.S. persons,” as defined in Rule 902 of Regulation S under the Securities Act (such holders, “Eligible Holders”), and only Eligible Holders who have completed and returned the eligibility certification are authorized to receive or review the Offering Memorandum or to participate in the Exchange Offers. The eligibility certification is available electronically at: https://gbsc-usa.com/eligibility/paramount.
General
Each Offer is a separate offer, and each may be individually consummated, amended, extended, terminated, or withdrawn, subject to certain conditions and applicable law, at any time in Paramount’s sole discretion, and without also consummating, amending, extending, terminating, or withdrawing any other Offer with respect to any other series of Offer Notes. Paramount may terminate an Offer if any of the conditions of such Offer described in the Offer to Purchase or Offering Memorandum, as applicable, are not satisfied or waived by the applicable Expiration Date, subject to applicable law. In addition, Paramount may waive the conditions to an Offer without extending such Offer in accordance with applicable law.
The Offers are being made solely by Paramount and are not being made by WBD or the WBD Issuers. None of Paramount, WBD, the WBD Issuers, the Dealer Managers, the Exchange Agent (as defined below), the Information Agent (as defined below), the trustees under each of the indentures governing the Offer Notes, the trustee or collateral agent under the indenture that will govern the notes to be issued in the Exchange Offers, or any affiliate of any of them makes any recommendation as to whether any holder of Offer Notes should tender or refrain from tendering all or any portion of the principal amount of such holder’s Offer Notes for cash or notes to be issued in the Exchange Offers. No one has been authorized by any of them to make such a recommendation. Holders must make their own decision whether to tender Offer Notes in any Offer and, if so, the amount of Offer Notes to tender.
Only Eligible Holders may receive a copy of the Offering Memorandum and participate in the Exchange Offers. Paramount has engaged Global Bondholder Services Corporation to act as the exchange agent (in such capacity, the “Exchange Agent”) and information agent (in such capacity, the “Information Agent”) for the Offers. Questions concerning the Offers, or requests for additional copies of the Offer to Purchase or Offering Memorandum or other related documents, may be directed to Corporate Actions by telephone at (855) 654-2014 (U.S. toll-free) or (212) 430-3774 (banks and brokers) or by email at contact@gbsc-usa.com. Holders should also consult their broker, dealer, commercial bank, trust company or other institution for assistance concerning the Offers. The Exchange Offer documents and the Tender Offer documents can be accessed at the following link: https://gbsc-usa.com/paramount.
Paramount has engaged BofA Securities and Citigroup as dealer managers (in such capacity, the “Dealer Managers”) for the Offers. Holders with questions regarding the Offers should contact BofA Securities, Inc. at +1 (888) 292-0070 (toll-free) or +1 (980) 388-3646 (collect) or debt_advisory@bofa.com or Citigroup Global Markets Inc. at +1 (800) 558-3745 (toll-free) or +1 (212) 723-6106 or ny.liabilitymanagement@citi.com. Latham & Watkins LLP is serving as legal counsel to Paramount and Cahill Gordon & Reindel LLP is serving as legal counsel to the Dealer Managers.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any security, and does not constitute an offer, solicitation, or sale of any security in any jurisdiction in which such offer, solicitation, or sale would be unlawful.
About Paramount, a Skydance Corporation
Paramount, a Skydance Corporation is a next-generation global media and entertainment company, comprised of three business segments: Studios, Direct-to-Consumer, and TV Media. PSKY’s portfolio unites legendary brands, including Paramount Pictures, Paramount Television, CBS, CBS News, CBS Sports, Nickelodeon, MTV, BET, Comedy Central, Showtime, Paramount+, Pluto TV, and Skydance Animation, Film, Television, Interactive/Games, and Paramount Sports Entertainment.
PSKY-IR
Cautionary Note Concerning Forward-Looking Statements
This communication contains “forward-looking statements” regarding the Acquisition and the other transactions referred to herein. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Paramount. Risks and uncertainties include, but are not limited to: the risk that the closing conditions for the Acquisition will not be satisfied, including the risk that clearances under applicable antitrust or regulatory laws will not be obtained or will be obtained subject to conditions that are not anticipated; the possibility that the transactions described herein will not be completed in the expected timeframe or at all; the occurrence of any event, change or other circumstances that could give rise to the termination of the Acquisition; potential adverse effects to the businesses of Paramount or WBD during the pendency of the Acquisition, such as employee departures or distraction of management from business operations; negative effects of the announcement or the consummation of the Acquisition on the market price of WBD or Paramount stock; the risk of stockholder litigation relating to the Acquisition, including resulting expense or delay; the potential that the expected benefits and opportunities of the Acquisition, if completed, may not be realized or may take longer to realize than expected; risks related to the streaming business of the post-Acquisition combined business (the “Combined Company”); the adverse impact on the Combined Company’s advertising revenues as a result of changes in consumer behavior, advertising market conditions, and deficiencies in audience measurement; risks related to operating in highly competitive and dynamic industries; the unpredictable nature of consumer behavior, as well as evolving technologies and distribution models; risks related to the Combined Company’s decision to invest in new businesses, products, services, and technologies, and the evolution of the Combined Company’s business strategy; the potential for loss of carriage or other reduction in, or the impact of negotiations for, the distribution of the Combined Company’s content; damage to the Combined Company’s reputation or brands; losses due to asset impairment charges for goodwill, content and long-lived assets, including finite-lived intangible assets; liabilities related to discontinued operations and former businesses; increasing scrutiny of, and evolving expectations for, sustainability initiatives; evolving business continuity, cybersecurity, privacy and data protection and similar risks; challenges in protecting and maintaining the Combined Company’s intellectual property rights; domestic and global political, economic and regulatory factors affecting the Combined Company’s business generally or the Acquisition; the inability to hire or retain key employees or secure creative talent; disruptions to the Combined Company’s operations as a result of labor disputes; risks and costs associated with the integration of, and Paramount’s ability to integrate, the businesses of Paramount Global, Skydance Media, LLC, and WBD successfully and to achieve anticipated synergies, including in the amounts or on the timelines anticipated to realize such synergies; litigation related to the Acquisition and other matters or transactions; risks associated with the Combined Company’s holding company structure, including its dependence on distributions from its subsidiaries to meet tax obligations and other cash requirements; risks related to our indebtedness, including our substantial outstanding debt obligations, our ability to incur substantially more debt and our ability to meet the financial and other covenants contained in the agreements governing the indebtedness of Paramount, WBD, or the Combined Company. A further list and description of these risks, uncertainties and other factors and the general risks associated with the respective businesses of Paramount and WBD can be found in Paramount’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 25, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” Paramount’s most recently filed Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 4, 2026, including in the sections captioned “Cautionary Note Concerning Forward-Looking Statements” and “Item 1A. Risk Factors,” and Paramount’s subsequent filings with the SEC, and in WBD’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026, including in the section captioned “Item 1A. Risk Factors,” WBD’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, filed with the SEC on May 6, 2026, and WBD’s subsequent filings with the SEC. Neither Paramount nor WBD undertakes to update any forward-looking statement as a result of new information or future events or developments, except as required by law.
View original content:https://www.prnewswire.com/news-releases/paramount-skydance-corporation-announces-extension-of-expiration-dates-of-previously-announced-exchange-offers-and-tender-offers-302834084.html
SOURCE Paramount Skydance Corporation
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