Company: WBD
Filing Date: 2025-07-25
Form Type: SCHEDULE 13D
Source: 0000950170-25-098874
Chunk: 4

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-07-25
Form: SCHEDULE 13D
Chunk 4
---
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 The Shareholders' Agreement includes certain provisions relating to the governance of OSN Streaming and the Issuer, including that, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the Purchaser holds 15% or more, directly or indirectly, of the Ordinary Shares), the Purchaser will be entitled to appoint and remove one member to the board of directors of OSN Streaming. Additionally, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the Purchaser holds 7.5% or more, directly or indirectly, of the Ordinary Shares), the Purchaser will be entitled to appoint and remove (i) one additional member to the board of directors of OSN Streaming and (ii) one member to the board of directors of the Issuer (the "Board"). Further, prior to the Call Option Lapse Date (and, following the Call Option Lapse Date, for so long as the Purchaser holds 15% or more, directly or indirectly, of the Ordinary Shares), the Purchaser will be entitled to appoint and remove (i) one observer to attend any meeting of the Board and (iii) one additional observer to attend any meeting of the audit committee of the Issuer. OSN Streaming Holding, for so long as it holds a majority of the Ordinary Shares, will be entitled to appoint and remove all members of the board of directors of OSN Streaming (other than those appointed or removed by the Purchaser and any other investor who holds, directly or indirectly, 15% or more of the Ordinary Shares). The Shareholders' Agreement provides for customary reserved matters relating to the conduct of business OSN Streaming or the Group (including the Issuer), in each case requiring the Purchaser's prior consent prior to the Call Option Lapse Date, and following the Call Option Lapse Date for so long as it holds 7.5% or more, directly or indirectly, of the Ordinary Shares. Such reserved matters include, among others, that (a) OSN Streaming will not (i) sell or otherwise dispose of any Ordinary Shares held by OSN Streaming, (ii) grant any options, warrants or other rights to purchase or obtain any Ordinary Shares held by OSN Streaming, (iii) create or grant any Encumbrance on any Ordinary Shares held by OSN Streaming,