secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2026-10-06T14:03:07+00:00
Accession:  0001193125-26-415055
Event type: m_and_a
Sentiment:  neutral
Materiality: 1.00
Item codes: 1.01, 1.02, 2.01, 2.03, 3.01, 3.03, 5.01, 5.03, 5.02, 8.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/0001193125-26-415055-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000119312526415055/d200872d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-415055

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer