secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2023-02-23T23:59:59+00:00
Accession:  0001437107-23-000013
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Warner Bros. Discovery reports Q4 net loss of $2.1B; DTC subscribers up 1.1M
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- Q4 total revenues $11.0B, down 9% ex-FX vs prior year combined; net loss $(2.1)B.
- Full-year 2022 net loss $(7.4)B, includes $6.2B amortization and $3.8B restructuring.
- DTC subscribers reached 96.1M, up 1.1M QoQ; DTC Adjusted EBITDA loss improved to $(217)M.
- Gross debt $49.5B, net leverage 5.0x; voluntarily repaid $7.0B debt since merger.
- Studios revenue down 23% ex-FX; Networks down 6% ex-FX; DTC revenue up 6% ex-FX.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000013/0001437107-23-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000013/disca-20230223.htm
  HTML page:      https://secwatch.observer/filing/0001437107-23-000013

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