Company: WBD
Filing Date: 2025-06-16
Form Type: 8-K
Source: 0001437107-25-000151
Chunk: 2

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-16
Form: 8-K
Item: Item 1.01
Chunk 2
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-related events and the cessation of guarantees), (c) eliminate any restrictions on the applicable Offeror or guarantor parties from consolidating with or merging into any other person or conveying, transferring or leasing all or any of its properties and assets to any person and any obligation to repurchase the applicable notes upon a change of control and (d) add (I) limitations on our ability to repurchase or exchange certain

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of the notes issued by DCL and WMH that remain outstanding following the consummation of the Tender Offers, (II) provisions for the establishment of amended notes that benefit from an additional covenant and (III) non-boycott provisions that will make it impermissible for holders of the applicable notes or beneficial owners of the applicable notes, as applicable, and any affiliates of the foregoing persons (other than specified screened affiliates) to enter into or become subject to or bound by any boycott agreement with respect to new debt issuances for cash by WBD and its subsidiaries until the maturity of the applicable series of notes.

The TWI Supplemental Indenture, if it becomes operative, will, among other things, (a) eliminate substantially all of the restrictive covenants with respect to the 8.30% Discount Debentures due 2036 and 6.85% Debentures due 2026, (b) eliminate certain of the events which may lead to an “ Event of Default” in the indenture governing such debentures (other than for the failure to pay principal or interest and insolvency-related events), (c) eliminate any restrictions on the applicable Offeror or guarantor parties to the base indenture from consolidating with or merging into any other person or conveying, transferring or leasing all or any of its properties and assets to any person, (d) eliminate any guarantees of such debentures and (e) amend the defeasance provisions in indenture governing such debentures to permit the defeasance and discharge of the applicable debentures without the provision of a tax opinion or any tax ruling.

The foregoing description of the Supplemental Indentures does not purport to be complete, is subject to and is qualified in its entirety by reference to the copies of the Supplemental Indentures attached hereto as Exhibits 4.1, 4.2, 4.3 and 4.4, which are incorporated herein by reference.

Item 3.03. Material Modification to Rights of Security Holders