Company: WBD
Filing Date: 2025-05-08
Form Type: SCHEDULE 13D/A
Source: 0000950170-25-067187
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Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: SCHEDULE 13D/A
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,000,000, Common Shares (prior to the Reverse Stock Split and as adjusted for any stock split, stock dividend, reverse stock split or similar event) in the aggregate, the Issuer will include two designees of MHR Fund Management on its slate of director nominees for election at each future annual meeting of the Issuer's shareholders and (3) for so long as funds affiliated with MHR Fund Management beneficially own at least 5,000,000, but less than 7,500,000, Common Shares (prior to the Reverse Stock Split and as adjusted for any stock split, stock dividend, reverse stock split or similar event) in the aggregate, the Issuer will include one designee of MHR Fund Management on its slate of director nominees for election at each future annual meeting of the Issuer's shareholders. Mark H. Rachesky, M.D., the Chairman of the Board, and Ms. Fine count as designees of MHR Fund Management.                                                                                                                                                                                                                                                          
 In addition, the Investor Rights Agreement provides that (1) for so long as Liberty Parent and WBD (together with certain of their affiliates) beneficially own at least 10,000,000 Common Shares (prior to the Reverse Stock Split and as adjusted for any stock split, stock dividend, reverse stock split or similar event) in the aggregate, the Issuer will include one designee of Liberty Parent and one designee of WBD on its slate of director nominees for election at each future annual meeting of the Issuer's shareholders and (2) for so long as Liberty Parent and WBD (together with certain of their affiliates) beneficially own at least 5,000,000, but less than 10,000,000, Common Shares (prior to the Reverse Stock Split and as adjusted for any stock split, stock dividend, reverse stock split or similar event) in the aggregate, the Issuer will include one designee of Liberty Parent and WBD, collectively, on its slate of director nominees for election at each future annual meeting of the Issuer's shareholders, selected by (a) Liberty Parent, if Liberty Parent (together with certain of its affiliates) individually exceeds such 5,000,000 Common Shares threshold but WBD (together with certain of its affiliates) does not, (b) WBD, if WBD (together with certain of its affiliates) individually exceeds such 5,000,000 Common Shares threshold but Liberty Parent (together with certain of its affiliates