{"filings":[{"id":529238,"accession_number":"0001437107-26-000059","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-05-19T21:17:56+00:00","items":["8.01","9.01"],"status":"ready","headline":"WBD subsidiaries seek noteholder consents to amend indentures tied to Paramount acquisition","event_type":"debt","confidence":"high","bullets":["Consent solicitations for 17 series of senior notes with aggregate principal ~$16.6B; consent fee $2.50 per $1,000.","Proposed amendments extend deadline for required exchange offers from Dec 2026 to Mar 2027, aligned with merger agreement.","Paramount funds consent payments regardless of deal closing; concurrent Paramount offers to purchase/exchange notes.","Expiration date for consents is May 26, 2026; payment expected May 29, 2026."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":92856,"accession_number":"0001437107-26-000055","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-05-06T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"WBD Q1 net loss $2.9B includes $2.8B Netflix termination fee; Adj EBITDA +5%","event_type":"earnings","confidence":"high","bullets":["Net loss available to WBD of $2.916B ($1.17 diluted EPS) vs $453M loss YoY; $2.8B Netflix termination fee.","Total revenues $8.893B, down 1% reported (3% ex-FX); Streaming rev +7% ex-FX, Studios +31%.","Adjusted EBITDA $2.203B (+5% reported); Free cash flow -$476M vs +$302M prior year.","Ended Q1 with 140M+ global streaming subs, ahead of guidance; on track for 150M by year-end 2026.","Leverage 3.4x net debt/EBITDA; $30.1B net debt; $3.3B cash; $4.0B revolver undrawn."],"consensus_eps_estimate":null,"consensus_eps_actual":-1.17,"consensus_revenue_estimate":null,"consensus_revenue_actual":8893000000.0,"consensus_period":"2026-Q1","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.8,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":92855,"accession_number":"0001437107-26-000048","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-04-30T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"WBD CFO Wiedenfels signs new employment agreement through April 2028","event_type":"leadership","confidence":"high","bullets":["New agreement effective July 11, 2026, extends term to April 28, 2028.","Base salary $2.5M; target bonus 175% of base; annual equity target $10M.","One-time RSU grant of $2M on August 17, 2026.","Severance: base salary continuation up to 24 months on termination without cause/for good reason.","Noncompete 12 months, nonsolicit 18 months post-employment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":92854,"accession_number":"0001193125-26-173660","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-04-23T23:59:59+00:00","items":["5.07"],"status":"ready","headline":"WBD shareholders approve merger with Paramount Skydance; reject advisory vote on executive compensation","event_type":"m_and_a","confidence":"high","bullets":["Special meeting votes: 1.74B shares for adoption of Merger Agreement, 16.3M against, 2.4M abstain.","Advisory vote on merger-related executive compensation failed: 1.44B against vs 308M for.","Merger with PSKY to close; WBD to become wholly owned subsidiary of PSKY.","Quorum of 70.3% of outstanding shares present at special meeting."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.85,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104044,"accession_number":"0001193125-26-108437","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-03-16T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"WBD enters tax reimbursement pact with CEO Zaslav for merger excise tax","event_type":"leadership","confidence":"high","bullets":["Agreement reimburses Zaslav for any Section 4999 excise tax on merger payments, placing him in same after-tax position.","Cost of reimbursement borne by surviving corporation post-merger; Compensation Committee approved.","If merger closes in 2027, tax advisors expect no reimbursement payment due to time reduction of exposure.","Agreement terminates automatically if Merger Agreement terminates; Zaslav commits to cooperate on mitigation strategies.","Potential exposure may be reduced via reasonable compensation for pre- or post-merger services, including non-compete."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104043,"accession_number":"0001437107-26-000018","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-02-27T23:59:59+00:00","items":["1.01","1.02","7.01","8.01","9.01"],"status":"ready","headline":"WBD to be acquired by Paramount Skydance for $31.00 per share in cash; prior Netflix merger terminated","event_type":"m_and_a","confidence":"high","bullets":["All-cash deal: $31.00 per share plus ticking consideration of $0.00277778/day after Sept 30, 2026 (max $0.25/90 days).","PIPE financing: Ellison parties commit up to $46.72B, RedBird $250M; no financing condition for closing.","Termination of prior Netflix merger (Jan 19, 2026); WBD pays a Netflix termination fee (undisclosed amount).","Company termination fee $3B if WBD accepts a superior proposal; regulatory termination fee $7B if antitrust blocks.","Closing conditional on WBD stockholder approval and regulatory clearances; boards unanimously approved."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":1.0,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104042,"accession_number":"0001437107-26-000011","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-02-26T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"WBD Q4 revenue falls 6% to $9.46B; net loss $252M; streaming adds 3.5M subs","event_type":"earnings","confidence":"high","bullets":["Q4 revenue $9.46B (down 6% YoY); net loss $252M vs loss $494M a year ago; adjusted EBITDA $2.22B (down 19%).","Global streaming subscribers grew to 131.6M (+3.5M QoQ); streaming revenue up 4% ex-FX to $2.79B.","Global Linear Networks revenue fell 13% ex-FX to $4.20B; Studios revenue down 14% ex-FX to $3.18B.","Free cash flow Q4 $1.38B (down 43% YoY) impacted by ~$600M separation/transaction costs; FY FCF $3.09B.","Net debt $29.0B with 3.3x leverage; repaid $1B bridge loan; facility maturity extended to June 2027."],"consensus_eps_estimate":null,"consensus_eps_actual":0.29,"consensus_revenue_estimate":null,"consensus_revenue_actual":37296000000.0,"consensus_period":"2025-FY","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104041,"accession_number":"0001193125-26-057173","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-02-18T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"WBD subsidiary extends bridge loan maturity to June 2027, tied to planned linear TV spin-off as part of Netflix merger","event_type":"debt","confidence":"high","bullets":["Bridge loan maturity extended to earlier of June 30, 2027 or completion of Linear Business spin-off.","Amendment removes non-consenting lenders and reallocates loans among extending lenders at par.","Merger Agreement with Netflix (Jan 19, 2026) defines spin-off of Linear Business (SpinCo) via Separation and Distribution Agreement.","Borrower Discovery Global Holdings (formerly WarnerMedia Holdings) remains borrower; Parent WBD guarantor.","No default or event of default occurred after giving effect to amendment."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104040,"accession_number":"0001193125-26-015949","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-01-20T23:59:59+00:00","items":["1.01","7.01","9.01"],"status":"ready","headline":"WBD-Netflix merger amended to all-cash $27.75/share; SpinCo net debt reduced to ~$17B","event_type":"m_and_a","confidence":"high","bullets":["Merger consideration changed to $27.75 per share entirely in cash, removing previous cash-and-stock mix.","SpinCo (Global Linear Networks) to carry net debt of $17.0B as of June 30, 2026, down $260M from original.","WBD stockholders receive one NewCo share, then SpinCo shares, then NewCo acquired by Netflix for cash.","Company termination fee unchanged at $2.8B; Netflix reverse termination fee $5.8B in cash.","Closing requires WBD stockholder vote, regulatory approvals, and completion of separation and distribution."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.9,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":104039,"accession_number":"0001437107-26-000003","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2026-01-07T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"CEO Zaslav gets 3.05M stock options (strike $28.51) plus 1.96M make-whole RSUs","event_type":"leadership","confidence":"high","bullets":["Follow-On Options of 3,052,734 shares granted Jan 2, 2026 at $28.51 exercise price.","Make-Whole RSUs of 1,963,465 shares granted Jan 5, 2026 to offset higher strike vs prior $10.16 options.","Both grants stem from June 2025 amended employment agreement; vesting terms match Signing Stock Options.","Compensation Committee chose RSUs as method to address lost economic value from stock price increase."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":120325,"accession_number":"0001193125-25-309873","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-12-05T23:59:59+00:00","items":["1.01","5.02","9.01"],"status":"ready","headline":"Warner Bros. Discovery agrees to be acquired by Netflix in cash-and-stock deal","event_type":"m_and_a","confidence":"high","bullets":["WBD stockholders to receive $23.25 cash per share plus Netflix shares at exchange ratio between 0.0376 and 0.0460.","Prior to merger, WBD will spin off its Global Linear Networks business into SpinCo via distribution to shareholders.","WBD must pay $2.8B termination fee if it accepts a superior proposal; Netflix must pay $5.8B if regulatory issues block deal.","Transaction expected to close by March 4, 2027, subject to regulatory approvals and WBD stockholder vote.","Boards of both companies unanimously approved the merger agreement."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":1.0,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":120324,"accession_number":"0001193125-25-308759","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-12-05T23:59:59+00:00","items":["7.01","8.01","9.01"],"status":"ready","headline":"Netflix to acquire Warner Bros. for $82.7B enterprise value; WBD to separate Discovery Global first","event_type":"m_and_a","confidence":"high","bullets":["Deal consideration: $23.25 cash + $4.50 in Netflix stock per WBD share, total $27.75/share; stock subject to collar between $97.91 and $119.67 VWAP.","Enterprise value $82.7B (equity $72.0B). Expected to close in 12-18 months, after WBD spins off Discovery Global (Q3 2026).","Cost synergies expected at least $2-3B annually by year three; deal accretive to GAAP EPS by year two.","Gunnar Wiedenfels to become CEO of Discovery Global, the standalone company holding CNN, TNT Sports, Discovery+.","Transaction approved by both boards; subject to regulatory approvals, WBD shareholder vote, and separation completion."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":1.0,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":120323,"accession_number":"0001437107-25-000219","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-11-13T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Warner Bros. Discovery amends CEO Zaslav's employment agreement amid strategic review","event_type":"leadership","confidence":"high","bullets":["Board initiated a strategic review of alternatives after unsolicited interest, considering full-company or separate transactions for Warner Bros. and Discovery Global.","Amendment treats a Reverse Spinoff (spinning off Discovery Global) identically to the original Separation for Zaslav's stock options.","If WBD enters a Qualifying Change-in-Control agreement before Dec 31, 2026, Zaslav's signing options remain outstanding and vest eligible.","Employment term extended to Dec 31, 2030 if a Qualifying CIC Agreement is signed before the outside date, securing Zaslav's leadership.","Internal restructuring transactions necessary for strategic alternatives will not trigger accelerated vesting or change-in-control definitions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":120322,"accession_number":"0001437107-25-000213","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-11-06T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"Warner Bros. Discovery Q3 net loss $148M; revenue down 6% YoY but streaming subs up to 128M","event_type":"earnings","confidence":"high","bullets":["Revenue $9.045B, down 6% YoY; net loss $148M vs income $135M.","Adjusted EBITDA $2.47B, up 2% ex-FX; streaming subscribers 128.0M (+2.3M QoQ).","Studios revenue +23% ex-FX to $3.32B, Adj EBITDA $695M (vs $308M).","Free cash flow $701M; repaid $1.2B debt including $1B bridge loan.","Guidance: Studios to exceed $2.4B Adj EBITDA, Streaming at least $1.3B for 2025."],"consensus_eps_estimate":null,"consensus_eps_actual":0.39,"consensus_revenue_estimate":null,"consensus_revenue_actual":27836000000.0,"consensus_period":"2025-Q3","consensus_source":"xbrl_only","sentiment":"negative","materiality_score":0.85,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":136904,"accession_number":"0001437107-25-000189","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-08-07T23:59:59+00:00","items":["2.02","7.01","9.01"],"status":"ready","headline":"WBD Q2 net income $1.58B; adj. EBITDA +9% to $1.95B; streaming subs 125.7M","event_type":"earnings","confidence":"high","bullets":["Revenue $9.812B (+1% YoY); content rev +17% to $2.471B; Studios rev +55% to $3.801B.","Streaming segment Adj. EBITDA $293M vs. -$107M; global streaming subs 125.7M (+3.4M QoQ).","Net income $1.58B includes $2.958B pre-tax gain on debt extinguishment; diluted EPS $0.63.","Free cash flow $702M (down 28% YoY); gross debt reduced $2.7B to $35.6B; net leverage 3.3x.","Studios segment on track for at least $2.4B full-year Adj. EBITDA; 2025 guidance reaffirmed."],"consensus_eps_estimate":null,"consensus_eps_actual":0.45,"consensus_revenue_estimate":null,"consensus_revenue_actual":18791000000.0,"consensus_period":"2025-Q2","consensus_source":"xbrl_only","sentiment":"positive","materiality_score":0.75,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":136903,"accession_number":"0001437107-25-000180","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-07-31T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"WBD outlines post-separation exec roles for Campbell & Perrette with $2.3M base, $9.5M 2025 equity","event_type":"leadership","confidence":"high","bullets":["Campbell to become COO of Warner Bros. post-split; current salary $2.946M, new salary $2.3M, equity target $11.6M/year.","Perrette to become President & CEO, Global Streaming & Games of Warner Bros.; salary $2.3M, annual equity target $10.6M.","2025 equity grants increased to $9.5M for both; incremental $1M awards on Aug 15, 2025.","Current agreements extended to 2028; separation must close by Dec 31, 2026, or new agreements void.","Both executives have 12-month non-compete; severance up to 24 months base plus bonus."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":136902,"accession_number":"0001437107-25-000177","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-07-28T23:59:59+00:00","items":["5.02"],"status":"ready","headline":"Warner Bros. Discovery names Fraser Woodford CFO and Brian Rauch CAO, effective on Separation close","event_type":"leadership","confidence":"high","bullets":["Fraser Woodford, current EVP Treasury, appointed CFO upon closing of tax-free Separation; Gunnar Wiedenfels to become CEO.","Brian Rauch, current EVP Global Business Services, appointed CAO upon Separation close, succeeding Lori Locke.","Compensation terms for Woodford and Rauch not yet determined; 8-K will be amended within four business days.","Appointments are contingent on completion of the previously announced Separation into Warner Bros. and Discovery Global."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.55,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154144,"accession_number":"0001437107-25-000161","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-26T23:59:59+00:00","items":["1.01","2.03","9.01"],"status":"ready","headline":"WBD subsidiary enters $17B bridge loan to fund tender offers, spinoff of Streaming & Studios","event_type":"debt","confidence":"high","bullets":["WarnerMedia Holdings signed $17.0B bridge loan on June 26, 2025, drawn June 30.","Interest at SOFR + 3.00%-4.00% per annum depending on period.","Loan matures in 18 months or upon completion of Separation Transaction (spinoff of Streaming & Studios).","Proceeds to settle tender offers, repay 364-day term loan, pay fees, general corporate purposes.","RCF amended to $4B with alignment to bridge loan covenants; secured by substantially all personal property."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154143,"accession_number":"0001437107-25-000159","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-24T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Warner Bros. Discovery reports early tender results for notes; many series oversubscribed, proration to apply","event_type":"debt","confidence":"high","bullets":["Pool 1 Notes tendered exceeded $3.75B cap; proration expected for WMH 3.755% 2027 notes.","Pool 2 Notes (€1.35B tendered) exceed €800M cap; both series subject to proration.","Pool 3 Notes tendered exceeded $1B cap and $300M subcap for 3.950% 2028 notes; proration applies.","Requisite consents obtained for indenture amendments; supplemental indentures effective immediately.","Tender offers expire July 9, 2025; early tender premium of $50 per $1,000 for most series."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.6,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154134,"accession_number":"0001437107-25-000157","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K/A","filed_at":"2025-06-17T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"WBD CEO Zaslav gets 20.9M stock options tied to separation; Wiedenfels set as CEO of Global Networks","event_type":"leadership","confidence":"high","bullets":["Zaslav receives 20,898,776 performance- and time-based stock options; 92% forfeitable if separation not completed by Dec 31, 2026.","Post-separation, Zaslav's base salary drops to $3M, bonus target to $6M; annual equity target $15.5M in first year then $7.5M.","Wiedenfels employment agreement contingent on separation; he becomes CEO of Global Networks with $2.5M salary, 350% bonus target, $16M annual equity target.","Performance-vesting options in three tranches: WBD stock prices $12.19, $15.24, $16.76 achieved over 30 consecutive days.","Single-trigger change-in-control severance eliminated for Zaslav effective immediately; replaced with double-trigger provision."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.85,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154142,"accession_number":"0001437107-25-000153","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-16T23:59:59+00:00","items":["5.02","9.01"],"status":"ready","headline":"Warner Bros. Discovery enters new CEO/CFO employment agreements tied to planned separation","event_type":"leadership","confidence":"high","bullets":["CEO Zaslav receives signing options for 20.9M shares at $10.16; 92% forfeit if separation not closed by Dec 31, 2026.","Post-separation, Zaslav's base salary $3M, target bonus $6M, initial annual equity target $15.5M.","CFO Wiedenfels to become CEO of Global Networks post-separation; base $2.5M, target bonus 350%, annual equity $16M.","Single-trigger change-in-control severance for Zaslav eliminated; replaced with double-trigger effective June 12, 2026.","Options vest based on WBD stock price targets: 120% ($12.19), 150% ($15.24), 165% ($16.76) over 30 consecutive days."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.75,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154141,"accession_number":"0001437107-25-000151","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-16T23:59:59+00:00","items":["1.01","3.03","8.01","9.01"],"status":"ready","headline":"Warner Bros. Discovery units get required consents for debt indenture amendments in tender offers","event_type":"debt","confidence":"high","bullets":["Requisite consents received for all six pools; supplemental indentures executed but only operative upon settlement of offers.","Consent payments range $2.50 to $33.21 per $1,000/$1,000 principal; no separate payment for certain series like DCL 4.875% 2043.","Early settlement of tenders expected June 30, 2025; tender offers expire July 9, 2025 unless extended.","Amendments eliminate substantially all restrictive covenants and certain events of default, and add limitations on repurchases and non-boycott provisions."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154140,"accession_number":"0001437107-25-000144","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-11T23:59:59+00:00","items":["7.01"],"status":"ready","headline":"Warner Bros. Discovery plans early settlement June 30 for senior notes tender offers","event_type":"debt","confidence":"medium","bullets":["Early settlement date expected on June 30, 2025, assuming receipt of requisite consents and satisfaction of conditions.","Early tender deadline for notes is June 23, 2025 at 5:00 p.m. ET; consent expiration is June 13, 2025 at 5:00 p.m. ET.","Tender offers target 4.302% Senior Notes due 2030 (WBDI30) and 4.693% Senior Notes due 2033 (WBDI33).","Offers conducted by subsidiaries Discovery Communications, WarnerMedia Holdings, Warner Media, LLC, and Historic TW, Inc."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.3,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154139,"accession_number":"0001437107-25-000141","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-11T23:59:59+00:00","items":["7.01","9.01"],"status":"ready","headline":"WBD provides FAQ on debt tender offers; clarifies bridge allocation, anti-boycott language, and CODI tax impact","event_type":"debt","confidence":"high","bullets":["Bridge proceeds not used in tenders; upsize option up to $2.5bn upon mutual agreement with J.P. Morgan.","Proceeds from retained S&S stake sale will repay GN debt to preserve tax-free treatment; expects sale within 3-5 years.","Anti-boycott language only prohibits holder agreements not to buy new debt for cash; customary cooperation allowed.","CODI tax on discount realized: estimated $800m cash tax at 100% participation.","Post-spin securitization to split into two facilities; overall pool size ~$4.7bn unchanged."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"neutral","materiality_score":0.5,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154138,"accession_number":"0001437107-25-000138","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-09T23:59:59+00:00","items":["8.01","9.01"],"status":"ready","headline":"Warner Bros. Discovery to split into two public companies; launches $14.6B debt tender","event_type":"other_material","confidence":"high","bullets":["Separation into Streaming & Studios (HBO, WB, DC) and Global Networks (CNN, TNT, Discovery); tax-free, closing by mid-2026.","David Zaslav to lead Streaming & Studios; Gunnar Wiedenfels to lead Global Networks.","Tender offers up to $14.6B for outstanding notes; consent solicitations to amend indentures; expires July 9, 2025.","Bridge loan of $17.5B committed by J.P. Morgan to finance tender offers; may increase to $20B.","Global Networks will retain up to 20% stake in Streaming & Studios for tax-efficient monetization to reduce debt."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"positive","materiality_score":0.9,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null},{"id":154137,"accession_number":"0001437107-25-000102","cik":1437107,"company_name":"Warner Bros. Discovery, Inc.","ticker":"WBD","form_type":"8-K","filed_at":"2025-06-03T23:59:59+00:00","items":["5.02","5.03","5.07","9.01"],"status":"ready","headline":"WBD shareholders reject say-on-pay; approve special-meeting right for 20% holders","event_type":"other_material","confidence":"high","bullets":["Say-on-pay failed with 1.06B votes against vs 724M for (non-binding advisory).","Certificate amended: holders of 20%+ voting power with 1-year holding period can call special meetings.","ESPP share pool increased by 25M shares, total now 27,568,638; approved by shareholders.","All 13 director nominees elected; Anthony J. Noto received 527M withheld votes (29.4%).","PricewaterhouseCoopers ratified as auditor for FY 2025 with 2.06B votes for."],"consensus_eps_estimate":null,"consensus_eps_actual":null,"consensus_revenue_estimate":null,"consensus_revenue_actual":null,"consensus_period":null,"consensus_source":null,"sentiment":"negative","materiality_score":0.65,"daily_digest_date":null,"daily_digest_url":null,"daily_digest_rank":null}],"next_cursor":null}