Company: WBD
Filing Date: 2025-06-26
Form Type: 8-K
Source: 0001437107-25-000161
Chunk: 1

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-26
Form: 8-K
Item: Item 1.01
Chunk 1
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 of the consummation of the distribution by the Company of not less than 80% of the common equity interests of a subsidiary that owns the Streaming & Studios business of the Company and its subsidiaries as described in the Company’s press release dated June 9, 2025, announcing such transaction (the “ Separation Transaction”). There is no required amortization, and voluntary prepayments of borrowings under the Bridge Loan Facility are permissible without penalty, subject to certain conditions pertaining to required notice and minimum amounts of any such prepayments as described in the Bridge Loan Agreement. Borrowings under the Bridge Loan Facility are subject to mandatory prepayment upon certain debt incurrences, equity issuances or asset sales.

The Bridge Loan Agreement contains customary representations and warranties, as well as affirmative and negative covenants. Negative covenants include, among others, covenants that restrict the ability of the Company and its subsidiaries, without the approval of requisite lenders, to engage in mergers, consolidations and asset sales, incur debt and liens, enter into transactions with affiliates, pay dividends and certain other restricted payments and make certain restricted investments, in each case, as set forth in the Bridge Loan Agreement and subject to certain thresholds and exceptions. The Bridge Loan Agreement does not contain any financial maintenance covenant.

Upon the occurrence of certain significant corporate events or certain other customary events constituting an event of default under the Bridge Loan Agreement, all loans outstanding under the Bridge Loan Facility (including accrued interest and fees payable thereunder) may be declared immediately due and payable.

The foregoing description of the Bridge Loan Agreement and the Bridge Loan Facility does not purport to be complete and is qualified in its entirety by reference to the full and complete terms of the Bridge Loan Agreement, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.

Amendment No. 1 to Credit Agreement

On June 26, 2025, DCL, the Company and certain wholly-owned subsidiaries of the Company entered into Amendment No. 1 (the “ RCF Amendment”) to that certain multicurrency revolving credit agreement, dated as of October 4, 2024 (the “ RCF Credit Agreement”) among DCL, the Company, as facility guarantor, certain wholly-owned subsidiaries of the Company, as borrowers, Scripps Networks Interactive, Inc. and WMH, as subsidiary

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guarantors, the lenders from time to time party thereto and Bank of America, N. A., as administrative agent, swing line lender and L