{"schema_version":"secwatch.filing_event.v1","accession":"0001437107-25-000028","form_type":"8-K","ticker":"WBD","cik":"0001437107","company_name":"Warner Bros. Discovery, Inc.","filed_at":"2025-02-27T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.625676+00:00","generated_at":"2026-05-26T01:29:45.246263+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.72,"calibrated_materiality_score":0.72,"confidence":"high","headline":"WBD Q4 revenue down 2%, net loss widens; DTC turns profitable with $409M EBITDA","bullets":["Q4 revenue $10.0B (-2% YoY); net loss $(494)M vs $(400)M; Adj. EBITDA $2.7B (+11% ex-FX).","DTC: revenue $2.65B (+6% ex-FX), Adj. EBITDA $409M vs $(55)M; global subs 116.9M (+6.4M QoQ).","Networks revenue -4% ex-FX, Adj. EBITDA -13% ex-FX; domestic linear subs down 9% YoY.","FY2024 net loss $11.3B includes $9.1B goodwill impairment; FCF $4.4B; net debt $34.6B (3.8x leverage).","2025 DTC Adj. EBITDA target ~$1.3B; Max to launch Australia, Germany, Italy, UK; Studios improvement expected."],"urls":{"canonical":"https://secwatch.observer/filing/0001437107-25-000028","json":"https://secwatch.observer/filing/0001437107-25-000028.json","markdown":"https://secwatch.observer/filing/0001437107-25-000028.md","text":"https://secwatch.observer/filing/0001437107-25-000028.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1437107/000143710725000028/0001437107-25-000028-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1437107/000143710725000028/disca-20250227.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T01:29:45.246263+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}