<SEC-DOCUMENT>0000950170-25-106642.txt : 20250811
<SEC-HEADER>0000950170-25-106642.hdr.sgml : 20250811
<ACCEPTANCE-DATETIME>20250811170609
ACCESSION NUMBER:		0000950170-25-106642
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250807
FILED AS OF DATE:		20250811
DATE AS OF CHANGE:		20250811

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Groce Caryn K
		CENTRAL INDEX KEY:			0002029089
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-42791
		FILM NUMBER:		251202885

	MAIL ADDRESS:	
		STREET 1:		PARAMOUNT GLOBAL
		STREET 2:		1515 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Paramount Skydance Corp
		CENTRAL INDEX KEY:			0002041610
		STANDARD INDUSTRIAL CLASSIFICATION:	TELEVISION BROADCASTING STATIONS [4833]
		ORGANIZATION NAME:           	06 Technology
		EIN:				993917985
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1515 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-258-6000

	MAIL ADDRESS:	
		STREET 1:		1515 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	New Pluto Global, Inc.
		DATE OF NAME CHANGE:	20241017
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>ownership.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-08-07</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0002041610</issuerCik>
        <issuerName>Paramount Skydance Corp</issuerName>
        <issuerTradingSymbol>PSKY</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002029089</rptOwnerCik>
            <rptOwnerName>Groce Caryn K</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1515 BROADWAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10036</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>EVP, Acting Gen Counsel &amp; Secy</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
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                <value>Class B Common Stock</value>
            </securityTitle>
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                <value>2025-08-07</value>
            </transactionDate>
            <transactionCoding>
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                <transactionCode>D</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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                <footnoteId id="F2"/>
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                </transactionShares>
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                <transactionAcquiredDisposedCode>
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            </transactionAmounts>
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        <nonDerivativeTransaction>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

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                <directOrIndirectOwnership>
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        </derivativeTransaction>
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            <securityTitle>
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                <equitySwapInvolved>false</equitySwapInvolved>
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                <transactionShares>
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                <transactionPricePerShare>
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        <derivativeTransaction>
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                    <value>Class B Common Stock</value>
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                <sharesOwnedFollowingTransaction>
                    <value>1945</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Share Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F9"/>
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            <transactionDate>
                <value>2025-08-07</value>
            </transactionDate>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>5630</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F9"/>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
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                <footnoteId id="F11"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                    <value>5630</value>
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            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5630</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On August 7, 2025, the previously announced transactions contemplated by the transaction agreement, dated as of July 7, 2024 (&quot;Transaction Agreement&quot;), by and among: Skydance Media, LLC (&quot;Skydance&quot;), Paramount Global, Paramount Skydance Corporation (f/k/a New Pluto Global, Inc.) (&quot;Paramount Skydance&quot;), and the other parties thereto were completed. Pursuant to the terms of the Transaction Agreement, in a series of transactions, each of Paramount Global and Skydance merged into subsidiaries of Paramount Skydance.</footnote>
        <footnote id="F2">Represents the disposition of shares of Paramount Global common stock and the acquisition of shares of Paramount Skydance common stock.  Pursuant to the terms of the Transaction Agreement, each share of Paramount Global Class B common stock converted into the right to receive one share of Paramount Skydance Class B common stock, or at the election of the holder of such share, cash in the amount of $15.00 per share, subject to pro ration as set forth in the Transaction Agreement.</footnote>
        <footnote id="F3">Represents the number of shares of Paramount Skydance common stock beneficially owned following the transactions described herein.</footnote>
        <footnote id="F4">Represents the disposition of Paramount Global restricted share units (&quot;RSUs&quot;) and the acquisition of Paramount Skydance RSUs assumed by Paramount Skydance pursuant to the terms of the Transaction Agreement.</footnote>
        <footnote id="F5">These RSUs will vest on March 1, 2026, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
        <footnote id="F6">These RSUs will vest in two equal annual installments beginning on March 1, 2026, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
        <footnote id="F7">These RSUs will vest in two equal annual installments beginning on August 5, 2026, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
        <footnote id="F8">These RSUs will vest in three equal annual installments beginning on March 1, 2026, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
        <footnote id="F9">Represents Paramount Global performance share units that converted into time-based RSUs pursuant to the terms of the Transaction Agreement.</footnote>
        <footnote id="F10">These RSUs will vest on February 28, 2026, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
        <footnote id="F11">These RSUs will vest on February 28, 2027, and a corresponding number of shares of Class B common stock, net of any shares withheld by the Issuer to satisfy tax liability incident to the vesting of the RSUs, will be delivered on each vest date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Caryn K Groce</signatureName>
        <signatureDate>2025-08-11</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
