# EDGAR Filing Document

**Accession Number:** 0002041610
**File Stem:** 0002041610-25-000013
**Filing Date:** 2025-8
**Character Count:** 41554
**Document Hash:** 9c117e4da21c46ad805cf71d3b55187e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002041610-25-000013.hdr.sgml**: 20250801

**ACCESSION NUMBER**: 0002041610-25-000013

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 31

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250801

**DATE AS OF CHANGE**: 20250801

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** New Pluto Global, Inc.
- **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

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-282985
- **FILM NUMBER:** 251176153

**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

?xml version='1.0' encoding='ASCII'? npg-20250630

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

    

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q** 

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the quarterly period ended June 30, 2025**

---

| | |
|:---|:---|
| **OR** | **OR** |
| ☐ | **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
|  | **For the transition period from <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> to <u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u>**  |

---

**Commission File Number 333-282985** 

**New Pluto Global, Inc.\*** 

(Exact name of registrant as specified in its charter)

---

| | |
|:---|:---|
| **Delaware** | **99-3917985** |
| (State or other jurisdiction of<br>incorporation or organization) | (I.R.S. Employer Identification No.) |

---

---

| | | | |
|:---|:---|:---|:---|
| **c/o Paramount Global** | **c/o Paramount Global** | **c/o Paramount Global** | **c/o Paramount Global** |
| **1515 Broadway** | **1515 Broadway** | **1515 Broadway** | **1515 Broadway** |
| | **New York,** | **New York** | **10036** |

---

**(212) 258-6000** 

**(Address, including zip code, and telephone numbers, including**

**area code, of registrant's principal executive offices)**

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Title of each class** | **Trading Symbols** | **Trading Symbols** | **Name of each exchange on which registered** | **Name of each exchange on which registered** |
| None | | N/A | | N/A |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that registrant was required to submit such files). Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Securities Exchange Act of 1934.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ☒ | Smaller reporting company | ☐ |
| | | Emerging growth company | ☒ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Securities Exchange Act of 1934). Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

As of July 31, 2025, there were 1,000 outstanding shares of the registrant's common stock, $0.001 par value per share.

**The registrant meets the conditions set forth in General Instructions (H)(1)(a) and (b) of Form 10-Q and therefore is filing this form with the reduced disclosure format permitted by Form 10-Q.**

\*The registrant is currently named New Pluto Global, Inc. The registrant plans to change its name to "Paramount Skydance Corporation" following the completion of the transactions described herein.

    

------

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| | | Page |
| | [Explanatory Note.](#i9877312c8bb041a5a5e123bd908f9931_13) | [3](#i9877312c8bb041a5a5e123bd908f9931_13) |
| | **PART I - FINANCIAL INFORMATION** | |
| Item 1. | [Financial Statements.](#i9877312c8bb041a5a5e123bd908f9931_16) |  |
|  | [Consolidated Statement of Operations for the](#i9877312c8bb041a5a5e123bd908f9931_22)[T](#i9877312c8bb041a5a5e123bd908f9931_22)[hree](#i9877312c8bb041a5a5e123bd908f9931_22)[and Six](#i9877312c8bb041a5a5e123bd908f9931_22)[M](#i9877312c8bb041a5a5e123bd908f9931_22)[onths](#i9877312c8bb041a5a5e123bd908f9931_22)[E](#i9877312c8bb041a5a5e123bd908f9931_22)[nded](#i9877312c8bb041a5a5e123bd908f9931_22)<br> [June](#i9877312c8bb041a5a5e123bd908f9931_22)[30](#i9877312c8bb041a5a5e123bd908f9931_22)[,](#i9877312c8bb041a5a5e123bd908f9931_22)[2025 and for the Period](#i9877312c8bb041a5a5e123bd908f9931_22)[from June 3, 2024 (Date of Incorporation) to](#i9877312c8bb041a5a5e123bd908f9931_22)<br> [June 30](#i9877312c8bb041a5a5e123bd908f9931_22)[, 2024](#i9877312c8bb041a5a5e123bd908f9931_22) | [4](#i9877312c8bb041a5a5e123bd908f9931_22) |
|  | [Consolidated Statement of Comprehensive Income for the](#i9877312c8bb041a5a5e123bd908f9931_25)[T](#i9877312c8bb041a5a5e123bd908f9931_25)[hree](#i9877312c8bb041a5a5e123bd908f9931_25)[and S](#i9877312c8bb041a5a5e123bd908f9931_25)[ix](#i9877312c8bb041a5a5e123bd908f9931_25)[M](#i9877312c8bb041a5a5e123bd908f9931_25)[onths](#i9877312c8bb041a5a5e123bd908f9931_25)<br> [E](#i9877312c8bb041a5a5e123bd908f9931_25)[nded](#i9877312c8bb041a5a5e123bd908f9931_25)[June 30](#i9877312c8bb041a5a5e123bd908f9931_25)[,](#i9877312c8bb041a5a5e123bd908f9931_25)[2025 and for the](#i9877312c8bb041a5a5e123bd908f9931_25)[P](#i9877312c8bb041a5a5e123bd908f9931_25)[eriod from June 3, 2024](#i9877312c8bb041a5a5e123bd908f9931_25)[(Date of](#i9877312c8bb041a5a5e123bd908f9931_25)<br> [Incorporation) to June 30, 2024](#i9877312c8bb041a5a5e123bd908f9931_25) | [5](#i9877312c8bb041a5a5e123bd908f9931_25) |
|  | [Consolidated Balance Sheet at](#i9877312c8bb041a5a5e123bd908f9931_28)[June 30](#i9877312c8bb041a5a5e123bd908f9931_28)[, 2025 and December 31, 2024](#i9877312c8bb041a5a5e123bd908f9931_28) | [6](#i9877312c8bb041a5a5e123bd908f9931_28) |
|  | [Consolidated Statement of Cash Flows for the](#i9877312c8bb041a5a5e123bd908f9931_31)[Six Months Ended](#i9877312c8bb041a5a5e123bd908f9931_31)<br> [June 30](#i9877312c8bb041a5a5e123bd908f9931_31)[,](#i9877312c8bb041a5a5e123bd908f9931_31)[2025](#i9877312c8bb041a5a5e123bd908f9931_31)[and for the Period from June 3, 2024 (Date of](#i9877312c8bb041a5a5e123bd908f9931_25)[Incorporation) to](#i9877312c8bb041a5a5e123bd908f9931_25)<br> [June 30, 2024](#i9877312c8bb041a5a5e123bd908f9931_25) | [7](#i9877312c8bb041a5a5e123bd908f9931_31) |
|  | [Consolidated Statement of Equity for the](#i9877312c8bb041a5a5e123bd908f9931_34)[Three and Six Months Ended](#i9877312c8bb041a5a5e123bd908f9931_34)<br> [June 30](#i9877312c8bb041a5a5e123bd908f9931_34)[,](#i9877312c8bb041a5a5e123bd908f9931_34)[2025](#i9877312c8bb041a5a5e123bd908f9931_34)[and for the Period from June 3, 2024 (Date of Incorporation) to](#i9877312c8bb041a5a5e123bd908f9931_25)<br> [June 30, 2024](#i9877312c8bb041a5a5e123bd908f9931_25) | [8](#i9877312c8bb041a5a5e123bd908f9931_34) |
|  | [Notes to Consolidated Financial Statements.](#i9877312c8bb041a5a5e123bd908f9931_37) | [9](#i9877312c8bb041a5a5e123bd908f9931_37) |
| Item 2. | [Management's Discussion and Analysis of Results of Operations and Financial](#i9877312c8bb041a5a5e123bd908f9931_46)<br> Condition. | [11](#i9877312c8bb041a5a5e123bd908f9931_46) |
| Item 4. | [Controls and Procedures.](#i9877312c8bb041a5a5e123bd908f9931_49) | [13](#i9877312c8bb041a5a5e123bd908f9931_49) |
|  | **PART II - OTHER INFORMATION** |  |
| Item 1A. | [Risk Factors.](#i9877312c8bb041a5a5e123bd908f9931_55) | [13](#i9877312c8bb041a5a5e123bd908f9931_55) |
| Item 6. | [Exhibits.](#i9877312c8bb041a5a5e123bd908f9931_58) | [14](#i9877312c8bb041a5a5e123bd908f9931_58) |

---

------

**EXPLANATORY NOTE**

New Pluto Global, Inc. (the "Company"), a Delaware Corporation, was formed on June 3, 2024 for purposes of consummating the transactions described herein, and is a wholly-owned, direct subsidiary of Paramount Global. On February 13, 2025, the United States Securities and Exchange Commission (the "SEC") declared effective the Registration Statement on Form S-4, as amended (the "Registration Statement"), of the Company. The Company has not commenced operations, has no assets or liabilities, and has not engaged in any significant activities other than those related to its formation from its incorporation on June 3, 2024 through June 30, 2025.

------

**PART I – FINANCIAL INFORMATION**

---

| | |
|:---|:---|
| **Item 1.** | **Financial Statements.** |

---

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF OPERATIONS**

**(In whole dollars)**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Period From June 3, 2024 to June 30, 2024** |
| Revenues | $— | $— | $— |
| Operating expenses |  |  |  |
| Other items |  |  |  |
| Earnings before income taxes |  |  |  |
| Provision for income taxes |  |  |  |
| Net earnings | $— | $— | $— |
| Earnings per common share - basic and diluted | $— | $— | $— |
| Weighted average number of common shares <br> outstanding - basic and diluted | 1000 | 1000 | 1000 |

---

See notes to consolidated financial statements.

------

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME**

**(In whole dollars)**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended June 30, 2025** | **Six Months Ended June 30, 2025** | **Period From June 3, 2024 to June 30, 2024** |
| Net earnings | $— | $— | $— |
| &nbsp;&nbsp;&nbsp;Other comprehensive income before taxes |  |  |  |
| &nbsp;&nbsp;&nbsp;Provision for income taxes |  |  |  |
| Comprehensive income | $— | $— | $— |

---

See notes to consolidated financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**CONSOLIDATED BALANCE SHEET**

**(In whole dollars)**

---

| | | |
|:---|:---|:---|
| | **At**<br>**June 30, 2025** | **At**<br>**December 31, 2024** |
| **ASSETS** | | |
| Current assets | $— | $— |
| Other assets |  |  |
| Total Assets | $— | $— |
| **LIABILITIES AND EQUITY** |  |  |
| Current liabilities | $— | $— |
| Other liabilities |  |  |
| Commitments and contingencies |  |  |
| Equity: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common Stock, par value $.001 per share; 1,000 shares authorized; <br>1,000 (2025 and 2024) shares issued | 1 | 1 |
| &nbsp;&nbsp;&nbsp;Additional paid-in capital |  |  |
| &nbsp;&nbsp;&nbsp;Due from shareholder | (1) | (1) |
| &nbsp;&nbsp;&nbsp;Retained earnings |  |  |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Equity |  |  |
| Total Liabilities and Equity | $— | $— |

---

See notes to consolidated financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF CASH FLOWS**

**(In whole dollars)**

---

| | | |
|:---|:---|:---|
| | **Six Months Ended June 30, 2025** | **Period From June 3, 2024 to June 30, 2024** |
| **Operating Activities** | | |
| Net earnings | $— | $— |
| Adjustments to reconcile net earnings to net cash flow provided by <br> operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;Change in assets and liabilities |  |  |
| Net cash flow provided by operating activities |  |  |
| **Investing Activities** |  |  |
| Net cash flow provided by investing activities |  |  |
| **Financing Activities** |  |  |
| Net cash flow provided by financing activities |  |  |
| Net increase in cash and cash equivalents |  |  |
| Cash and cash equivalents at beginning of period |  |  |
| Cash and cash equivalents at end of period | $— | $— |

---

See notes to consolidated financial statements.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**CONSOLIDATED STATEMENT OF EQUITY**

**(In whole dollars)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Additional<br>Paid-In<br>Capital** | **Treasury<br>Stock** | **Due from Shareholder** | **Retained Earnings** | **Accumulated Other Comprehensive Loss** | **Total Equity** |
|  | *(Shares)* |  |  |  |  |  |  |  |
| **March 31, 2025** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |
| Net earnings |  |  |  |  |  |  |  |  |
| Other comprehensive income |  |  |  |  |  |  |  |  |
| **June 30, 2025** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Additional<br>Paid-In<br>Capital** | **Treasury<br>Stock** | **Due from Shareholder** | **Retained Earnings** | **Accumulated Other Comprehensive Loss** | **Total Equity** |
|  | *(Shares)* |  |  |  |  |  |  |  |
| **December 31, 2024** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |
| Net earnings |  |  |  |  |  |  |  |  |
| Other comprehensive income |  |  |  |  |  |  |  |  |
| **June 30, 2025** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Common Stock** | **Additional<br>Paid-In<br>Capital** | **Treasury<br>Stock** | **Due from Shareholder** | **Retained Earnings** | **Accumulated Other Comprehensive Loss** | **Total Equity** |
|  | *(Shares)* |  |  |  |  |  |  |  |
| **June 3, 2024** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |
| Net earnings |  |  |  |  |  |  |  |  |
| Other comprehensive income |  |  |  |  |  |  |  |  |
| **June 30, 2024** | 1000 | $1 | $— | $— | $(1) | $— | $— | $— |

---

See notes to consolidated financial statements.

------

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS**

**1) BASIS OF PRESENTATION** 

*Description of Business*—New Pluto Global, Inc., a Delaware corporation, was formed on June 3, 2024 for purposes of consummating the Transactions described below and is a wholly-owned, direct subsidiary of Paramount Global ("Paramount"), a Delaware corporation. New Pluto Global, Inc. is referred to herein as "New Paramount" or the "Company". The Company has three wholly-owned direct subsidiaries, Pluto Merger Sub, Inc. and Pluto Merger Sub II, Inc., both of which are Delaware corporations, and Sparrow Merger Sub, LLC, a California limited liability company. The Company has not commenced operations, has no assets or liabilities, and has not engaged in any significant activities other than those related to its formation from its incorporation on June 3, 2024 through June 30, 2025.

On February 13, 2025, the United States Securities and Exchange Commission (the "SEC") declared effective the Registration Statement on Form S-4, as amended, of the Company to register shares of its common stock, par value $0.001 per share, that will be issued in connection with a transaction agreement (the "Transaction Agreement") that the Company and Paramount entered into on July 7, 2024 with Skydance Media, LLC, a California limited liability company ("Skydance"), and other parties, pursuant to which Paramount and Skydance will become subsidiaries of New Paramount (the transactions contemplated by the Transaction Agreement, the "Transactions"). Immediately following the completion of the Transactions, New Paramount will be renamed Paramount Skydance Corporation.

Concurrent with the execution of the Transaction Agreement, certain affiliates of existing investors of Skydance (the "NAI Equity Investors"), including entities controlled by members of the Ellison Family, and affiliates of RedBird Capital Partners, entered into an agreement with National Amusements, Inc. ("NAI"), the controlling stockholder of Paramount, to purchase all of the outstanding equity interests of NAI (the "NAI Transaction"). In addition, the NAI Equity Investors and certain other affiliates of investors of Skydance will make an investment of up to $6.0 billion into New Paramount in exchange for up to 400 million newly issued shares of Class B Common Stock of New Paramount ("New Paramount Class B Common Stock"), subject to ratable reduction, for a purchase price of $15.00 per share, and the NAI Equity Investors will also receive warrants to purchase 200 million shares of New Paramount Class B Common Stock at an initial exercise price of $30.50 per share (subject to customary anti-dilution adjustments), which expire five years after issuance. Up to $4.5 billion of the proceeds from this investment will be used to fund the cash-stock election discussed below and a minimum of $1.5 billion of cash (less a subscription discount of 1.875%) will remain at New Paramount. If the cash-stock elections are undersubscribed, up to an additional $1.5 billion (less a subscription discount of 1.875%) of the unused portion of the $4.5 billion will also remain at New Paramount.

The Transactions will also include: (1) a transaction pursuant to which existing Skydance investors will receive 317 million shares of New Paramount Class B Common Stock, and (2) a cash-stock election pursuant to which (a) shares of Paramount's Class A Common Stock held by stockholders other than NAI will be converted, at the stockholders' election, into the right to receive either $23.00 in cash or 1.5333 shares of New Paramount Class B Common Stock, and (b) shares of Paramount's Class B Common Stock held by stockholders other than NAI, the NAI Equity Investors and certain other affiliates of investors of Skydance referred to above will be converted, at the stockholders' election, into the right to receive either $15.00 in cash (subject to proration) or one share of New Paramount Class B Common Stock. The shares that are settled in cash will cease to exist after the completion of the Transactions.

At the closing of the Transactions, Paramount's voting Class A Common Stock and non-voting Class B Common Stock (currently listed and traded on The Nasdaq Stock Market LLC under the symbols "PARAA" and "PARA," respectively) will cease to be listed. Following the closing of the Transactions shares of New Paramount Class B

------

**NEW PLUTO GLOBAL, INC. AND SUBSIDIARIES**

**NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)**

Common Stock, par value $0.001 are expected to begin trading on the Nasdaq Stock Market LLC under the ticker symbol "PSKY". New Paramount Class A common stock will not be listed for trading on a stock exchange. New Paramount Class B Common Stock will not have any voting rights while shares of New Paramount Class A Common Stock (the "New Paramount Class A Common Stock" together with New Paramount Class B Common Stock, the "New Paramount Common Stock") will be entitled to one vote per share with respect to all matters on which the holders of New Paramount Common Stock are entitled to vote. Following the Transactions, NAI and its applicable subsidiaries will hold 100% of the New Paramount Class A Common Stock.

The Transactions are expected to close on August 7, 2025, subject to customary closing conditions. Consummation of the foregoing transactions is also subject to the contemporaneous consummation of each other transaction described above. In the event of a termination of the Transaction Agreement under certain specified circumstances, Paramount will be required to pay Skydance a termination fee in the amount of $400 million.

Following the closing of the Transactions, New Paramount intends to fully and unconditionally guarantee the senior and junior debt of Paramount. At June 30, 2025, Paramount's senior notes and debentures had an aggregate face value of $13.33 billion with maturity dates between 2026 and 2050, and its junior debt was comprised of $650 million junior subordinated debentures due 2057 and $1.0 billion junior subordinated debentures due 2062.

*Use of Estimates*—The preparation of financial statements in conformity with accounting principles generally accepted in the United States (U.S. GAAP) requires management to make estimates, judgments and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the applicable periods presented. Actual results may vary from these estimates under different assumptions or conditions.

**2) EQUITY** 

At June 30, 2025, the Company was authorized to issue 1,000 shares of common stock, par value $0.001 per share. At June 30, 2025, 1,000 shares of the Company's common stock were issued and outstanding. All such issued and outstanding shares were held by Paramount.

"Due from shareholder" on the Consolidated Balance Sheet represents a receivable from Paramount of $1 in connection with the issuance of the Company's common stock.

------

---

| | |
|:---|:---|
| **Item 2.** | **Management's Discussion and Analysis of Results of Operations and Financial Condition.** |

---

Management's discussion and analysis of the results of operations and financial condition of New Pluto Global Inc. should be read in conjunction with the consolidated financial statements and related notes in our Special Report on Form 10-K for the year ended December 31, 2024. References in this document to "New Paramount," the "Company," "we," "us" and "our" refer to New Pluto Global Inc.

On February 13, 2025, the United States Securities and Exchange Commission (the "SEC") declared effective the Registration Statement on Form S-4, as amended, of the Company to register shares of its common stock, par value $0.001 per share, that will be issued in connection with a transaction agreement (the "Transaction Agreement") that the Company and Paramount entered into on July 7, 2024 with Skydance Media, LLC, a California limited liability company ("Skydance"), and other parties, pursuant to which Paramount and Skydance will become subsidiaries of New Paramount (the transactions contemplated by the Transaction Agreement, the "Transactions"). New Paramount has not commenced operations, has no assets or liabilities, and has not engaged in any significant activities other than those related to its formation from its incorporation on June 3, 2024 through June 30, 2025. Immediately following the completion of the Transactions, New Paramount will be renamed Paramount Skydance Corporation.

Concurrent with the execution of the Transaction Agreement, certain affiliates of existing investors of Skydance (the "NAI Equity Investors"), including entities controlled by members of the Ellison Family, and affiliates of RedBird Capital Partners, entered into an agreement with National Amusements, Inc. ("NAI"), the controlling stockholder of Paramount, to purchase all of the outstanding equity interests of NAI (the "NAI Transaction"). In addition, the NAI Equity Investors and certain other affiliates of investors of Skydance will make an investment of up to $6.0 billion into New Paramount in exchange for up to 400 million newly issued shares of Class B Common Stock of New Paramount ("New Paramount Class B Common Stock"), subject to ratable reduction, for a purchase price of $15.00 per share, and the NAI Equity Investors will also receive warrants to purchase 200 million shares of New Paramount Class B Common Stock at an initial exercise price of $30.50 per share (subject to customary anti-dilution adjustments), which expire five years after issuance. Up to $4.5 billion of the proceeds from this investment will be used to fund the cash-stock election discussed below and a minimum of $1.5 billion of cash (less a subscription discount of 1.875%) will remain at New Paramount. If the cash-stock elections are undersubscribed, up to an additional $1.5 billion (less a subscription discount of 1.875%) of the unused portion of the $4.5 billion will also remain at New Paramount.

The Transactions will also include: (1) a transaction pursuant to which existing Skydance investors will receive 317 million shares of New Paramount Class B Common Stock, and (2) a cash-stock election pursuant to which (a) shares of Paramount's Class A Common Stock held by stockholders other than NAI will be converted, at the stockholders' election, into the right to receive either $23.00 in cash or 1.5333 shares of New Paramount Class B Common Stock, and (b) shares of Paramount's Class B Common Stock held by stockholders other than NAI, the NAI Equity Investors and certain other affiliates of investors of Skydance referred to above will be converted, at the stockholders' election, into the right to receive either $15.00 in cash (subject to proration) or one share of New Paramount Class B Common Stock. The shares that are settled in cash will cease to exist after the completion of the Transactions.

The Transactions are expected to close on August 7, 2025, subject to customary closing conditions. Consummation of the foregoing transactions is also subject to the contemporaneous consummation of each other transaction described above. In the event of a termination of the Transaction Agreement under certain specified circumstances, Paramount will be required to pay Skydance a termination fee in the amount of $400 million.

------

**Management's Discussion and Analysis of**

**Results of Operations and Financial Condition (Continued)**

Following the closing of the Transactions, New Paramount intends to fully and unconditionally guarantee the senior and junior debt of Paramount. At June 30, 2025, Paramount's senior notes and debentures had an aggregate face value of $13.33 billion with maturity dates between 2026 and 2050, and its junior debt was comprised of $650 million junior subordinated debentures due 2057 and $1.0 billion junior subordinated debentures due 2062.

------

---

| | |
|:---|:---|
| **Item 4.** | **Controls and Procedures.** |

---

Our principal executive officer and principal financial officer have concluded that, as of the end of the period covered by this report, our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) of the Securities Exchange Act of 1934, as amended) were effective, based on the evaluation of these controls and procedures required by Rule 13a-15(b) or 15d-15(b) of the Securities Exchange Act of 1934, as amended.

No change in our internal control over financial reporting occurred during our last fiscal quarter that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

**PART II – OTHER INFORMATION**

---

| | |
|:---|:---|
| **Item 1A.** | **Risk Factors.** |

---

During the period covered by this report, the Company did not conduct any significant activities other than those related to its formation and the matters contemplated by the Transactions. See "Cautionary Statement Regarding Forward-Looking Statements" and "Risk Factors" in the Company's Registration Statement on Form S-4 (File No. 333-282985) filed with and declared effective by the Securities and Exchange Commission on February 13, 2025, which is incorporated by <u>[reference herein](https://www.sec.gov/Archives/edgar/data/2041610/000119312525025303/d813356ds4a.htm)</u>.

------

---

| | |
|:---|:---|
| **Item 6.** | **Exhibits.** |

---

---

| | | |
|:---|:---|:---|
| **Exhibit No.** | **Exhibit No.** | **Description of Document** |
| (31) |  | **Rule 13a-14(a)/15d-14(a) Certifications** |
|  | (a) | Certification of the principal executive officer of New Pluto Global, Inc. pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (<u>[filed herewith](newpluto_ex31a-063025.htm)</u>). |
|  | (b) | Certification of the principal financial officer of New Pluto Global, Inc. pursuant to Rule 13a-14(a) or 15d-14(a), as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (<u>[filed herewith](newpluto_ex31b-063025.htm)</u>). |
| (32) |  | **Section 1350 Certifications** |
|  | (a) | Certification of the principal executive officer of New Pluto Global, Inc. furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (<u>[furnished herewith](newpluto_ex32a-063025.htm)</u>). |
|  | (b) | Certification of the principal financial officer of New Pluto Global, Inc. furnished pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (<u>[furnished herewith](newpluto_ex32b-063025.htm)</u>). |
| (101) |  | **Interactive Data File** |
|  |  | 101. INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.<br>101. SCH XBRL Taxonomy Extension Schema.<br>101. CAL XBRL Taxonomy Extension Calculation Linkbase.<br>101. DEF XBRL Taxonomy Extension Definition Linkbase.<br>101. LAB XBRL Taxonomy Extension Label Linkbase.<br>101. PRE XBRL Taxonomy Extension Presentation Linkbase. |
| (104) |  | **Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).** |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | |
|:---|:---|
| | **NEW PLUTO GLOBAL, INC.**<br>(Registrant) |
| Date: August 1, 2025 | /s/ Andrew Warren |
| | Andrew Warren<br>*Executive Vice President,*<br>*Interim Chief Financial Officer* |
| Date: August 1, 2025 | /s/ Katherine Gill-Charest |
| | Katherine Gill-Charest<br>*Chief Accounting Officer* |

---

## Ex-31.A

**Exhibit 31(a)**

**CERTIFICATION**

I, Christopher D. McCarthy, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this Quarterly Report on Form 10-Q of New Pluto Global, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Intentionally omitted

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 1, 2025

---

| |
|:---|
| /s/ Christopher D. McCarthy |
| Christopher D. McCarthy |
| President and Chief Executive Officer, Showtime/MTV Entertainment Studios and Paramount Media Networks |

---

## Ex-31.B

**Exhibit 31(b)**

**CERTIFICATION**

I, Andrew Warren, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.I have reviewed this Quarterly Report on Form 10-Q of New Pluto Global, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Intentionally omitted

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: August 1, 2025

---

| |
|:---|
| /s/ Andrew Warren |
| Andrew Warren |
| Executive Vice President,<br>Interim Chief Financial Officer |

---

## Ex-32.A

**Exhibit 32(a)**

**Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

In connection with the Quarterly Report of New Pluto Global, Inc. (the "Company") on Form 10-Q for the period ended June 30, 2025 as filed with the Securities and Exchange Commission (the "Report"), I, Christopher D. McCarthy, principal executive officer of the Company, certify that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| |
|:---|
| /s/ Christopher D. McCarthy |
| Christopher D. McCarthy |
| President and Chief Executive Officer, Showtime/MTV Entertainment Studios and Paramount Media Networks |
| August 1, 2025 |

---

## Ex-32.B

**Exhibit 32(b)**

**Certification Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

In connection with the Quarterly Report of New Pluto Global, Inc. (the "Company") on Form 10-Q for the period ended June 30, 2025 as filed with the Securities and Exchange Commission (the "Report"), I, Andrew Warren, principal financial officer of the Company, certify that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.the Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| |
|:---|
| /s/ Andrew Warren |
| Andrew Warren |
| Executive Vice President,<br>Interim Chief Financial Officer |
| August 1, 2025 |

---

<br>