Company: WBD
Filing Date: 2025-12-05
Form Type: 425
Source: 0001193125-25-309939
Chunk: 0

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-05
Form: 425
Chunk 0
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K/A CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): December 5, 2025 NETFLIX, INC. (Exact Name of Registrant as Specified in Charter)

| Delaware                     |     | 001-35727   |     | 77-0467272         |
| (State or Other Jurisdiction 
 of Incorporation)            |     | -Commission 
 File Number |     | -I.R.S. Employer   
 Identification No. |

121 Albright Way Los Gatos, California, 95032 (Address of principal executive offices) (Zip Code) (408) 540-3700 (Registrant’s telephone number, include area code) Not applicable (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-Kfiling is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

| ☒ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |

| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 
 CFR 240.14a-12)                                                        |

| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |

| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

Securities registered pursuant to Section 12(b) of the Act:

| Title of each class                      |     | Trading   
 symbol(s) |     | Name of each exchange       
 on which registered         |
| Common stock, par value $0.001 per share |     | NFLX      |     | NASDAQ Global Select Market |

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2of the Securities Exchange Act of 1934 (§240.12b-2of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has