Company: WBD
Filing Date: 2025-12-08
Form Type: DFAN14A
Source: 0001193125-25-311455
Chunk: 13

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-08
Form: DFAN14A
Chunk 13
---
 global subscribers. And you have a significant linear portfolio with significant synergies that will be highly cash flow generative. And when you look at that from a returns perspective, it’s incredibly attractive to — obviously, to all shareholders. And from that standpoint, I think that’s why our partners obviously are here, is when you look at the returns, this is a good thing for our business. It’s obviously why we’re advocating for it so strongly here today. And that’s — I think that’s the lens that they’re incredibly sophisticated investors. They’ll look at it through the lens all investors do, which is how do they maximize value. And one of the things that we always look at as the largest investor in this business is we are shoulder to shoulder with shareholders looking to maximize value for everybody involved in our company. Operator The final question goes to Peter Supino of Wolfe Research. Unknown Analyst This is Logan [ Angress ] on for Peter. Just one question for me. While it’s clear you want the entire asset, it seems a lot of the $6 billion synergy target is probably coming from the linear network side. I’m curious, in a world where your offer for all of Warner Bros. Discovery doesn’t work out, would you be interested in acquiring just the global linear networks stub? Or is it all or nothing when it comes to your Warner Bros. Discovery offer? David Ellison Chairman & CEO Look, Peter, (sic) [ Logan ], I appreciate the question. Look, we put forth — what we’re interested in is the proposal we put forth, which was to acquire 100% of Warner Bros. Discovery at $30 a share in cash. Kevin Creighton EVP of Corporate Finance & Investor Relations All right. With that, thank you, Nadia, and thank you all for joining.

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PARAMOUNT SKYDANCE CORPORATION M&A CALL DEC 08, 2025 David Ellison Chairman & CEO Thank you. Andrew M. Gordon Chief Strategy Officer, COO & Director Thank you. Operator Thank you. This now concludes today’s call. Thank you all for joining, and you may now disconnect your lines.

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PARAMOUNT SKY