---
schema_version: "secwatch.filing_event.v1"
accession: "0001437107-25-000138"
form_type: "8-K"
ticker: "WBD"
cik: "0001437107"
company_name: "Warner Bros. Discovery, Inc."
filed_at: "2025-06-09T23:59:59+00:00"
generated_at: "2026-05-19T16:59:16.158235+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Warner Bros. Discovery to split into two public companies; launches $14.6B debt tender

## Summary
- Separation into Streaming & Studios (HBO, WB, DC) and Global Networks (CNN, TNT, Discovery); tax-free, closing by mid-2026.
- David Zaslav to lead Streaming & Studios; Gunnar Wiedenfels to lead Global Networks.
- Tender offers up to $14.6B for outstanding notes; consent solicitations to amend indentures; expires July 9, 2025.
- Bridge loan of $17.5B committed by J.P. Morgan to finance tender offers; may increase to $20B.
- Global Networks will retain up to 20% stake in Streaming & Studios for tax-efficient monetization to reduce debt.

## SEC filing metadata
- accession: 0001437107-25-000138
- form_type: 8-K
- ticker: WBD
- cik: 0001437107
- company_name: Warner Bros. Discovery, Inc.
- filed_at: 2025-06-09T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000138/0001437107-25-000138-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1437107/000143710725000138/disca-20250609.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437107-25-000138
- JSON: https://secwatch.observer/filing/0001437107-25-000138.json
- Plain text: https://secwatch.observer/filing/0001437107-25-000138.txt

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