- Paramount Skydance Corporation (PSKY) will move its Class B common stock listing from Nasdaq to the New York Stock Exchange (NYSE) in October, with the exchange switch coming as the company prepares for its proposed acquisition of Warner Bros. Discovery (WBD).
Paramount Skydance said Sept. 25 that trading of its Class B shares on Nasdaq is expected to end at market close on or around Oct. 5. Trading on the NYSE is expected to begin at market open on Oct. 6, according to the company's filing with the US Securities and Exchange Commission.
The stock will continue to trade under the PSKY ticker. The move is therefore a change in listing venue rather than a ticker change or a new class of shares.
The timing is notable because Oct. 5 is also the record date Paramount has established for a planned distribution of warrants to eligible holders of its Class B stock. The warrant distribution is currently expected around Oct. 13, although both dates remain subject to the closing of the Warner Bros. Discovery transaction.
When Does PSKY Move From Nasdaq to NYSE?
Paramount Skydance expects its Nasdaq listing to end after trading closes on Oct. 5, 2026, with PSKY shares scheduled to begin trading on the NYSE when the market opens on Oct. 6. The company said its board authorized the voluntary withdrawal of the Class B common stock from Nasdaq and the transfer of the listing to the NYSE. The SEC filing does not identify a company-specific reason for the transfer.
In general, companies can change exchanges for reasons involving investor-base alignment, exchange services, technology or listing and compliance costs. Reuters noted that Nasdaq and the NYSE have long competed for corporate listings, with Nasdaq traditionally associated more heavily with technology companies and the NYSE with large industrial and financial companies.
Those broader considerations should not be interpreted as Paramount's stated rationale, however. The company has simply announced the transfer without publicly assigning a specific reason in its latest filing.
For PSKY investors, the practical change is the venue where the shares trade. The ticker remains PSKY, while the Class B common stock moves from Nasdaq to NYSE. The exchange switch also arrives at a significant point in Paramount's corporate timeline.
PSKY Stock, Warrants and the Warner Bros. Discovery Deal
Paramount Skydance is simultaneously preparing for the proposed acquisition of Warner Bros. Discovery, a transaction Reuters has valued at about $110 billion. Paramount reached a settlement with California and 11 other US states and the Writers Guild of America earlier this week, removing a major legal obstacle to the transaction.
The merger has not yet closed, however. Paramount's Sept. 25 SEC filing says the transaction remains subject to further closing conditions and that the ultimate timing of the deal, “if any,” is not yet certain. Paramount's board set Oct. 5 as the record date for a previously announced warrant distribution to eligible Class B shareholders. The company expects the warrants to be issued around Oct. 13 if the Warner Bros. Discovery transaction closes.
The planned distribution is contingent on the merger closing. Paramount therefore retains the ability to cancel or postpone the record date and warrant issue date if the transaction's timetable changes.
The warrants are designed to give eligible shareholders an opportunity to purchase Class B common stock under specified terms. Paramount has said there will be no “when issued” trading in the warrants, with trading expected to begin on the issue date. The company also cautions that there is no assurance an active market for the warrants will develop or that investors will be able to sell them at a particular price.
For PSKY investors, the sequence is therefore straightforward: Nasdaq trading is expected to end Oct. 5, NYSE trading is expected to begin Oct. 6, and the warrant distribution is currently targeted for around Oct. 13 if the Warner Bros. Discovery deal closes as required.
The NYSE transfer itself does not change the PSKY ticker or automatically alter the value of the underlying shares. The more significant variables for investors remain the completion of the Warner Bros. Discovery transaction, the resulting corporate structure and the terms and market response surrounding the planned warrants.