---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-415055"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2026-10-06T14:03:07+00:00"
generated_at: "2026-10-12T16:28:35.568532+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# Skydance closes $78B acquisition of Warner Bros. Discovery; WBD holders get $31.0167/share cash

## Summary
- Skydance (f/k/a Paramount Skydance) closed its $78B acquisition of WBD on Oct 6, 2026; each WBD share converted into $31.01666668 cash, including $0.00277778/day ticking consideration.
- WBD became a wholly owned subsidiary of SKYD; aggregate merger consideration ~$78B, funded by equity and debt financing. WBD notified Nasdaq to halt trading and delist; Form 25/15 to follow.
- CEO David Zaslav separated from WBD on Oct 6, 2026; CFO Gunnar Wiedenfels, Bruce Campbell and Priya Aiyar separate Oct 16. Board including Zaslav, Levin and Noto ceased at closing.
- Transaction bonuses: WBD approved up to $38.7M cash program; Wiedenfels gets $2,142,401, Campbell $2,946,000 and Perrette $2,850,000, vested at closing and payable within 60 days.
- WBD ratified defective corporate acts: 396,804 RSUs granted after the Plan's May 20, 2025 expiration and 120,000 shares issued; statutory notice gives stockholders 120 days to challenge.

## SEC filing metadata
- accession: 0001193125-26-415055
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2026-10-06T14:03:07+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.03, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/d200872d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-415055
- JSON: https://secwatch.observer/filing/0001193125-26-415055.json
- Plain text: https://secwatch.observer/filing/0001193125-26-415055.txt

## Key facts
- Executive change
  Lori Locke departed as other_named_officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Debra L. Lee departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Anton J. Levy departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Paula A. Price departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Samuel A. Di Piazza, Jr. departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Geoffrey Y. Yang departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Daniel E. Sanchez departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  David M. Zaslav departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  David M. Zaslav departed as Chief Executive Officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Chief Executive Officer
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Anthony J. Noto departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Richard W. Fisher departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Gunnar Wiedenfels departed as other_named_officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Jean-Briac Perrette departed as other_named_officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Priya Aiyar departed as other_named_officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Paul A. Gould departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Joseph M. Levin departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Bruce L. Campbell departed as other_named_officer at Warner Bros. Discovery, Inc..
  - Action: ceased
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of David M. Zaslav, Gunnar Wiedenfels, Priya Aiyar, Bruce L. Campbell, Jean-Briac Perrette and Lori Locke ceased to be an officer of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Fazal Merchant departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
- Executive change
  Kenneth W. Lowe departed as Director at Warner Bros. Discovery, Inc..
  - Action: ceased
  - Role: Director
  source text: In accordance with the terms of the Merger Agreement, as a result of the Merger, each of Samuel A. Di Piazza, Jr., David M. Zaslav, Richard W. Fisher, Paul A. Gould, Debra L. Lee, Joseph M. Levin, Anton J. Levy, Kenneth W. Lowe, Fazal Merchant, Anthony J. Noto, Paula A. Price, Daniel E. Sanchez and Geoffrey Y. Yang ceased to be a director of WBD as of the Effective Time.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.