 A Message From Porter & Company In December President Trump will take the stage and shock the world. Standing before the leaders of the most powerful nations on earth, at his own resort in Miami, I believe he’s set to unveil something that will impact every dollar you have saved and invested. The original agenda for the G20 Summit was development finance and climate change. That’s been scrapped. Instead, my research indicates Trump could unveil a radical monetary reset that no one has prepared you for. I've been tracking this story for months. And the deeper I investigate, the more convinced I become that what happens in that room could draw a brutal dividing line – between those who understand what's happening to their money, and those who do not. Which means between now and December, there is a window. A chance to get ahead of what could be the most consequential change to our money in half a century. It wasn't voted on. It wasn't debated in the Senate. And most Americans have no idea it's even taking place but… President Trump is replacing the U.S. dollar. Not with crypto. Not with a digital currency. Something far bigger than that – and it's already been signed and sealed in the back rooms of D.C., ready to be issued by the U.S. Treasury. Bypassing every legal and political channel under the guise of "national security," Trump has enacted this total money reset using a landmark executive order (14241). Whether you’re a Democrat or Republican, whether you support this new money or not, it doesn't matter. Soon, every U.S. citizen will be forced to use Trump's New Dollar to fill their gas tank, buy groceries, and pay medical bills. Which is why I've produced a critical new documentary laying out exactly what Trump's New Dollar means for your savings, your investments, and your family's financial future. Detailing three important steps you can take today to prepare – including the name of a core band of assets connected to Trump’s initiative that could surge as a result. As you’ll see in my briefing, the last time America reset its money like this – under Richard Nixon’s presidency in the 1970s – it created one of the greatest wealth divides in the history of our nation. On one side, it minted an average of 1,300 new millionaires a day for over half a century. And on the other… the folks left behind, drowning in debt, with no idea how to use America’s new money to create wealth. As Trump rolls out his new dollar, the question is: Which side will you be on? 
Good investing, Porter Stansberry PS. If you’re wondering what Trump’s new money will look like, when it will be issued, what it means for your investments – all of those questions are answered in my briefing.
Today's Exclusive Article
Paramount Skydance Clears a Major Warner Bros. Discovery Hurdle—Here's What Comes NextAuthor: Jeffrey Neal Johnson. Published: 9/22/2026. 
Key Points
- Paramount Skydance has settled the state antitrust challenge and a separate Writers Guild lawsuit that had been holding up its Warner Bros. Discovery acquisition.
- Warner Bros. Discovery surged to within cents of the $31 cash offer after the settlement, while Paramount Skydance closed lower despite heavy trading.
- Regulatory uncertainty has faded, but Paramount Skydance still faces substantial leverage, integration demands and binding production commitments after closing.
- Special Report: I've seen this movie before (last time: 17,556%)
When state regulators intervened in July 2026 to block Paramount Skydance's acquisition of Warner Bros. Discovery, investors expected a lengthy courtroom fight. Instead, a multistate antitrust settlement announced on Sept. 21 removed the main legal barrier facing the approximately $111 billion transaction. Markets responded immediately. Warner Bros. Discovery (NASDAQ: WBD) moved toward its 52-week high, while Paramount Skydance (NASDAQ: PSKY) attracted heavy trading volume. For investors tracking the entertainment sector, the core question is no longer whether regulators will halt the combination outright. Attention has shifted to what Paramount Skydance conceded to reach an agreement, how the combined business plans to manage its balance sheet leverage, and whether current market prices leave room for future returns. Understanding those factors begins with the regulatory clearance and the substantial commercial scale it unlocks. Greenlighting a $66 Billion Media Script
The multistate settlement resolves litigation brought by state attorneys general alongside the Writers Guild. By finalizing the agreement ahead of the Sept. 30, 2026, deadline, Paramount Skydance avoids contractual ticking fees that could have penalized the buyer by hundreds of millions of dollars for closing delays. Beyond lifting the immediate legal cloud, the transaction creates an entertainment entity with roughly $66.06 billion in annual revenue. That figure combines Warner Bros. Discovery's approximately $37.30 billion business with Paramount Skydance's roughly $28.76 billion top line. In modern media, distribution reach is critical to survival. Combining the Max and Paramount+ streaming platforms addresses the industry's persistent challenge of fragmented direct-to-consumer (DTC) footprints. Consolidating subscriber bases could increase platform engagement, reduce churn, and provide a clearer path toward positive earnings before interest, taxes, depreciation, and amortization (EBITDA). Uniting both studio lots under a single corporate leadership team also gives Chief Executive Officer David Ellison substantial leverage over theatrical scheduling and global content licensing. Script Notes From Regulators: What the Concessions DemandRegulatory clearance required tangible concessions. State officials imposed several binding operational conditions designed to preserve regional employment and industry diversity:
Production Commitments: Paramount Skydance agreed to invest an additional $1.5 billion in domestic production over the next five years. The combined studio must release at least 30 movies theatrically per year, increasing to 32 titles by the third year. Missing these benchmarks would trigger the mandatory divestiture of Miramax Studios. Studio Footprint Protections: Paramount Skydance pledged to maintain active operations at both the Melrose Avenue lot in Hollywood and the Warner Bros. lot in Burbank for at least five years. Independent News Oversight: Independent editorial boards will oversee CBS News and CNN to protect journalistic integrity. Labor and Platform Guarantees: The agreement allocates $47.5 million to an industry worker fund and safeguards distribution for free, ad-supported streaming television platforms, specifically Pluto TV. While these terms restrict aggressive headcount reductions and prevent real estate sales, they preserve the underlying production engines. Rather than impairing long-term earnings capacity, the mandated production quotas ensure a reliable stream of intellectual property to support theatrical box office, home entertainment and streaming engagement. Re-Engineering Debt Across 2 StudiosManaging the capital structure remains the primary operational hurdle for the combined business. Paramount Skydance carries a debt-to-equity ratio of about 1.13, while Warner Bros. Discovery maintains a ratio of approximately 0.90. To address legacy liabilities, Paramount Skydance extended the expiration dates for its outstanding debt exchange and tender offers on Sept. 21, 2026. Debt tenders are a standard financial mechanism that allows an acquirer to retire or refinance existing bonds under defined terms. By extending these deadlines, management gains time to align maturities and covenants, reducing the risk of credit-rating downgrades or debt acceleration. Operating cash flow provides crucial support during this integration phase. Warner Bros. Discovery generates around $8.17 per share in cash flow, while Paramount Skydance produces approximately $12.87 per share. These cash streams offer a financial cushion to service the combined debt load while meeting the settlement's $1.5 billion domestic production mandate. Warner Nears Parity While Paramount Offers ValueFollowing the settlement, trading patterns revealed a clear split in how the market values each entity. Warner Bros. Discovery gained 10.79% on Sept. 21 to close at $30.80, with more than 234 million shares changing hands. That was more than 13 times its average daily volume of approximately 17.96 million shares. The stock reached an intraday high of about $30.92, near the upper end of Wall Street's price target range, which tops out at $32. This compressed arbitrage spread suggests institutional investors see a high likelihood of deal completion. Paramount Skydance tells a different story. Paramount Skydance’s stock price reached an intraday high of about $11.49 before closing lower at roughly $9.91, down 2.94% on the session. Paramount Skydance trades at a discount across several traditional metrics, including a price-to-sales multiple of roughly 0.39 and a price-to-book ratio of about 0.85. The company also offers a dividend yield of just over 2%. Elevated short interest and an analyst consensus rating of Reduce point to market skepticism about integration costs. Yet, with projected earnings growth near 39.3%, this valuation gap may reflect market caution rather than broken fundamentals. What the New Studio Powerhouse Means for PortfoliosThe remaining path to deal completion involves execution rather than regulatory resistance. Management must conclude the outstanding debt tenders, finalize administrative filings and coordinate distribution networks. Potential risks remain, including a macroeconomic slowdown in linear television advertising and the logistical challenges of unifying two corporate cultures. Market pricing suggests Warner Bros. Discovery shares have largely captured the transaction's direct financial benefits. For investors monitoring the sector, Paramount Skydance offers an interesting profile. Those watching long-term media consolidation may assess whether Paramount Skydance's discounted book value provides an attractive entry point as the combined studio unlocks operational scale. . |
