{"schema_version":"secwatch.filing_event.v1","accession":"0001437107-26-000018","form_type":"8-K","ticker":"WBD","cik":"0001437107","company_name":"Warner Bros. Discovery, Inc.","filed_at":"2026-02-27T23:59:59+00:00","discovered_at":"2026-05-14T18:02:35.082535+00:00","generated_at":"2026-05-15T23:01:47.000617+00:00","sec_items":["1.01","1.02","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":1.0,"calibrated_materiality_score":1.0,"confidence":"high","headline":"WBD to be acquired by Paramount Skydance for $31.00 per share in cash; prior Netflix merger terminated","bullets":["All-cash deal: $31.00 per share plus ticking consideration of $0.00277778/day after Sept 30, 2026 (max $0.25/90 days).","PIPE financing: Ellison parties commit up to $46.72B, RedBird $250M; no financing condition for closing.","Termination of prior Netflix merger (Jan 19, 2026); WBD pays a Netflix termination fee (undisclosed amount).","Company termination fee $3B if WBD accepts a superior proposal; regulatory termination fee $7B if antitrust blocks.","Closing conditional on WBD stockholder approval and regulatory clearances; boards unanimously approved."],"urls":{"canonical":"https://secwatch.observer/filing/0001437107-26-000018","json":"https://secwatch.observer/filing/0001437107-26-000018.json","markdown":"https://secwatch.observer/filing/0001437107-26-000018.md","text":"https://secwatch.observer/filing/0001437107-26-000018.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1437107/000143710726000018/0001437107-26-000018-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1437107/000143710726000018/disca-20260227.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-15T23:01:47.000617+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":[{"claim_id":"f824fb7ec88510c1593020ec75a3db7e68b533de","claim":"Warner Bros. Discovery, Inc. entered into Agreement and Plan of Merger with Paramount Skydance Corporation (effective 2026-02-27).","evidence_excerpt":"On February 27, 2026, Warner Bros. Discovery, Inc., a Delaware corporation (“WBD”), Paramount Skydance Corporation, a Delaware corporation (“PSKY”), and Prince Sub Inc., a Delaware corporation and wholly owned subsidiary of PSKY (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”)","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1437107/000143710726000018/0001437107-26-000018-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"Paramount Skydance Corporation"},{"label":"Effective","value":"2026-02-27"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}