{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-309911","form_type":"8-K/A","ticker":"NFLX","cik":"0001065280","company_name":"NETFLIX INC","filed_at":"2025-12-05T23:59:59+00:00","discovered_at":"2026-05-14T18:02:38.699629+00:00","generated_at":"2026-05-16T14:11:25.582594+00:00","sec_items":["1.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"Netflix agrees to acquire Warner Bros. Discovery for cash and stock","bullets":["Each WBD share converted into cash (Per Share Cash Amount) and Netflix stock (Exchange Ratio).","WBD to spin off Spinco Business to its stockholders prior to closing.","Transaction includes a Holdco Reorganization intended to be tax-free under Section 368(a)(1)(F).","Deal requires WBD stockholder approval and regulatory clearances; termination fees apply.","Merger agreement dated December 4, 2025, with closing expected after conditions satisfied."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-309911","json":"https://secwatch.observer/filing/0001193125-25-309911.json","markdown":"https://secwatch.observer/filing/0001193125-25-309911.md","text":"https://secwatch.observer/filing/0001193125-25-309911.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1065280/000119312525309911/0001193125-25-309911-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1065280/000119312525309911/d45027d8ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T14:11:25.582594+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"873269e0d482d156770bed9a91306d4d8fbd65ec","claim":"NETFLIX INC entered into Agreement and Plan of Merger.","evidence_excerpt":"as Exhibit 2.1 to the Original 8-K. The Merger Agreement as filed hereto as Exhibit 2.1 supersedes the Merger Agreement filed as Exhibit 2.1 to the Original 8-K and is incorporated by reference into Item 1.01 of the Original 8-K","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1065280/000119312525309911/0001193125-25-309911-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}