Benzinga recently shared that Rep. Nancy Pelosi (D-Calif.) disclosed the sale of her Warner Bros. Discovery shares after the media company was acquired by Paramount Skydance, which is now Skydance Corp (NYSE:SKYD). She’s not the only Congress member who cashed out from the merger.
• What’s next for SKYD stock?
Congress Members Report Sale of WBD Stock
Three members of Congress recently disclosed the sale of their Warner Bros. Discovery stock (former ticker, WBD), with Benzinga Government Trades tracking the transactions.
The trades were all made on Oct. 7 by the following Congress members:
- David Kustoff (R-Tenn.) sold $1,000 to $15,000
- Gil Cisneros (D-Calif.) sold $1,000 to $15,000
- Julie Johnson (D-Texas) sold $1,000 to $15,000
The trades follow Pelosi reporting the sale of $50,000 to $100,000 in Warner Bros. Discovery stock.
Warner Bros. Discovery finalized the merger on Oct. 6 and existing shareholders received $31.0167 in cash for each WBD share they owned.
Data from Quiver Quantitative shows that Pelosi and her husband Paul Pelosi previously acquired 2,419 Warner Bros. Discovery shares in 2022 as part of a spinoff from AT&T (NYSE:T) at the time.
The same can be said for Kustoff, who acquired the Warner Bros. Discovery shares as part of the AT&T spinoff.
Cisneros previously disclosed buying Warner Bros. Discovery stock in November 2025 and January 2026, which could mean a profit based on the previous trading ranges for the stock in those months.
Johnson has no disclosed trades of Warner Bros. Discovery outside the sale, so it is unknown when she acquired the shares.
No One Buying New Media Company
Members of Congress have 45 days to report their stock transactions, which means there’s still time to see if anyone bought shares of the newly merged Skydance Corporation.
As of now, there are no active buys of SKYD stock by members of Congress.
This means that the Congress members who owned WBD stock took their cash and didn’t buy into the new company.
Those investors are likely happy that the merger was done as an all-cash transaction.
Skydance stock traded at $9.50 on Oct. 7 and shares are down 20% since then, closing Thursday at $7.59.
Image via Shutterstock
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