Cravath Publishes Winter 2026 Issue of Alumni Journal
April 21, 2026
On April 21, 2026, Cravath partner John W. White participated in a Disclosure Effectiveness Roundtable, hosted by the Responsible Business Center at Fordham’s Gabelli School of Business in collaboration with Metrix Advisory. The invite‑only event discussed how companies, investors and regulators can work together to improve clarity, enhance decision‑usefulness and support trust in capital markets while maintaining transparency. The session convened investors, preparers, board members, auditors, regulators and standard setters to examine the causes of ineffective disclosures and explore practical ideas to improve corporate reporting in a rapidly evolving environment.
Deals & Cases
February 28, 2026
On February 27, 2026, Paramount Skydance Corporation (“Paramount”) and Warner Bros. Discovery, Inc. ("WBD") announced they have entered into a definitive merger agreement under which Paramount will acquire WBD. Under the terms of the agreement, Paramount will pay $31.00 per share in cash for all outstanding shares of WBD. The transaction values WBD at an enterprise value of $110 billion, and has been unanimously approved by the Boards of Directors of both companies. Cravath is representing Paramount in connection with the transaction.
Deals & Cases
December 09, 2025
On December 8, 2025, Paramount, a Skydance Corporation (“Paramount”), announced it has commenced an all-cash tender offer to acquire all of the outstanding shares of Warner Bros. Discovery, Inc. (“WBD”) for $30.00 per share in cash, equating to an enterprise value of $108.4 billion. Paramount’s proposed transaction is for the entirety of WBD, including the Global Networks segment. Cravath is representing Paramount in connection with the transaction.
Deals & Cases
October 20, 2025
On October 17, 2025, Banco Sabadell announced that the public takeover bid launched by BBVA in May 2024 received support from only 25.47% of shareholders, and therefore lapsed as it failed to reach the minimum acceptance threshold required for completion. Banco Sabadell will continue as an independent bank. Cravath is representing Banco Sabadell as U.S. counsel in connection with this matter.
Deals & Cases
August 07, 2025
On August 7, 2025, Paramount Global and Skydance Media (“Skydance”) announced the completion of their merger, creating a standalone global media and entertainment company, Paramount, a Skydance Corporation (“Paramount”). Paramount Class B shares will begin trading today on the Nasdaq Stock Market LLC under “PSKY.” Cravath represented the Paramount Special Committee in connection with the transaction.
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