Highest-materiality recent filing
WBD subsidiaries seek noteholder consents to amend indentures tied to Paramount acquisition
Consent solicitations for 17 series of senior notes with aggregate principal ~$16.6B; consent fee $2.50 per $1,000.
WBD Q1 net loss $2.9B includes $2.8B Netflix termination fee; Adj EBITDA +5%
Net loss available to WBD of $2.916B ($1.17 diluted EPS) vs $453M loss YoY; $2.8B Netflix termination fee.
Special meeting votes: 1.74B shares for adoption of Merger Agreement, 16.3M against, 2.4M abstain.
WBD enters tax reimbursement pact with CEO Zaslav for merger excise tax
Agreement reimburses Zaslav for any Section 4999 excise tax on merger payments, placing him in same after-tax position.
All-cash deal: $31.00 per share plus ticking consideration of $0.00277778/day after Sept 30, 2026 (max $0.25/90 days).
WBD Q4 revenue falls 6% to $9.46B; net loss $252M; streaming adds 3.5M subs
Q4 revenue $9.46B (down 6% YoY); net loss $252M vs loss $494M a year ago; adjusted EBITDA $2.22B (down 19%).
Bridge loan maturity extended to earlier of June 30, 2027 or completion of Linear Business spin-off.
WBD-Netflix merger amended to all-cash $27.75/share; SpinCo net debt reduced to ~$17B
Merger consideration changed to $27.75 per share entirely in cash, removing previous cash-and-stock mix.
CEO Zaslav gets 3.05M stock options (strike $28.51) plus 1.96M make-whole RSUs
Follow-On Options of 3,052,734 shares granted Jan 2, 2026 at $28.51 exercise price.
Netflix to acquire Warner Bros. for $82.7B enterprise value; WBD to separate Discovery Global first
Deal consideration: $23.25 cash + $4.50 in Netflix stock per WBD share, total $27.75/share; stock subject to collar between $97.91 and $119.67 VWAP.
Warner Bros. Discovery agrees to be acquired by Netflix in cash-and-stock deal
WBD stockholders to receive $23.25 cash per share plus Netflix shares at exchange ratio between 0.0376 and 0.0460.
Warner Bros. Discovery amends CEO Zaslav's employment agreement amid strategic review
Board initiated a strategic review of alternatives after unsolicited interest, considering full-company or separate transactions for Warner Bros. and Discovery Global.
Warner Bros. Discovery Q3 net loss $148M; revenue down 6% YoY but streaming subs up to 128M
Revenue $9.045B, down 6% YoY; net loss $148M vs income $135M.
WBD Q2 net income $1.58B; adj. EBITDA +9% to $1.95B; streaming subs 125.7M
Revenue $9.812B (+1% YoY); content rev +17% to $2.471B; Studios rev +55% to $3.801B.
WBD outlines post-separation exec roles for Campbell & Perrette with $2.3M base, $9.5M 2025 equity
Campbell to become COO of Warner Bros. post-split; current salary $2.946M, new salary $2.3M, equity target $11.6M/year.
WBD subsidiary enters $17B bridge loan to fund tender offers, spinoff of Streaming & Studios
WarnerMedia Holdings signed $17.0B bridge loan on June 26, 2025, drawn June 30.
Pool 1 Notes tendered exceeded $3.75B cap; proration expected for WMH 3.755% 2027 notes.
WBD CEO Zaslav gets 20.9M stock options tied to separation; Wiedenfels set as CEO of Global Networks
Zaslav receives 20,898,776 performance- and time-based stock options; 92% forfeitable if separation not completed by Dec 31, 2026.
Warner Bros. Discovery enters new CEO/CFO employment agreements tied to planned separation
CEO Zaslav receives signing options for 20.9M shares at $10.16; 92% forfeit if separation not closed by Dec 31, 2026.
Warner Bros. Discovery to split into two public companies; launches $14.6B debt tender
Separation into Streaming & Studios (HBO, WB, DC) and Global Networks (CNN, TNT, Discovery); tax-free, closing by mid-2026.
WBD shareholders reject say-on-pay; approve special-meeting right for 20% holders
Say-on-pay failed with 1.06B votes against vs 724M for (non-binding advisory).
the terms and conditions of his employment as the CEO of Global Networks after the Separation.
Mr. Zaslav is anticipated to become the CEO of Streaming & Studios.
Max materiality 1.00 · Median 0.65 · Most common event leadership