secwatch.observer — SEC 8-K summary
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Issuer:     Warner Bros. Discovery, Inc. (WBD)
CIK:        0001437107
Form:       8-K
Filed at:   2023-08-03T23:59:59+00:00
Accession:  0001437107-23-000141
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

WBD Q2 2023: net loss $1.24B, Adj EBITDA $2.15B (+23% ex-FX), launched $2.7B debt tender
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- Net loss $(1,240)M includes $1.66B amortization; Adjusted EBITDA $2,149M (+23% ex-FX vs pro forma).
- Total revenues $10.36B, down 4% ex-FX; DTC sub count fell 1.8M to 95.8M.
- DTC Adjusted EBITDA improved to $(3)M from $(558)M YoY on pro forma basis; Max launched in U.S. May 23.
- Repaid $1.6B debt in Q2; gross debt $47.8B; net leverage 4.6x; launched tender offer for up to $2.7B.
- Increased synergy target to >$5B; expect leverage below 4.0x by year-end and 2.5-3.0x by end 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000141/0001437107-23-000141-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1437107/000143710723000141/disca-20230803.htm
  HTML page:      https://secwatch.observer/filing/0001437107-23-000141

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