Company: WBD
Filing Date: 2025-12-09
Form Type: 425
Source: 0001193125-25-311838
Chunk: 5

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-12-09
Form: 425
Chunk 5
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 might be streaming. And these things trade off pretty broadly. I would say it’s very important that what the President has been interested in, in this deal has been to what extent does it protect and create jobs in America. And he understands what we do, which is that we drive a ton of great work in America. Our original productions have employed 140,000 people to 2020 to 2024. Our economic contribution to the U.S. economy in that production is about $125 billion. We are producing in all 50 states. We’ve used 500 independent production companies to make content for us, about roughly 1,000 original projects. And beyond just the jobs, we’re also producing — we’re also investing in the entertainment ecosystem. We’re spending $1 billion building a studio in New Jersey right now, built on the old Fort Monmouth military base, it’s been empty for about 13 years, and it’s revitalizing the economy all over that area. We’ve got 11 films in production right now in New Jersey. We have a fully running studio we built in New Mexico. It’s been a great job center and great jobs training center. We’ve got many of our shows that we’re shooting there. So we continue to invest in this. And again, I think the President’s interest in this are the same as ours, which is to create and protect jobs. In this merger that — in the offer that Paramount was talking about today, the Ellisons were talking about $6 billion of synergies, where do you think synergies come from? Cutting jobs. So we’re not cutting jobs. We’re making jobs. John Christopher Hodulik UBS Investment Bank, Research Division Makes sense. So up until this deal, the company and the strategy has been very simple and straightforward, do all these benefits outweigh the increasing complexity you’re going to experience by putting these 2 companies together? Theodore A. Sarandos Co-CEO,President & Director

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NETFLIX, INC. COMPANY CONFERENCE PRESENTATION - PRELIMINARY COPY DEC 08, 2025 Look, I think we built this company on a very simple proposition. We actually had 1 SKU for the longest time, right... Gregory K. Peters Co-CEO,President & Director One model. . Theodore A. Sarandos Co-CEO,President & Director One model. And that helped us build a really strong foundation. And the idea of that was you built a