Company: WBD
Filing Date: 2025-06-09
Form Type: 8-K
Source: 0001437107-25-000138
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Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-06-09
Form: 8-K
Item: Item 8.01
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Item 8.01. Other Events.

Separation Transaction

On June 9, 2025, Warner Bros. Discovery, Inc. (the “ Company”) issued a press release announcing its plans to separate the Company, in a tax-free transaction, into two publicly traded companies (such two publicly traded companies, the “ WBD Companies”) (the “ Separation Transaction”). A copy of the Company’s press release announcing the Separation Transaction is attached to this Current Report on Form 8-K as Exhibit 99.1 and is incorporated herein by reference.

Tender Offers and Consent Solicitations

On June 9, 2025, the Company issued a press release announcing that its wholly‑owned subsidiaries, Discovery Communications, LLC (“ DCL”), WarnerMedia Holdings, Inc. (“ WMH”), Warner Media, LLC (“ WML”) and Historic TW, Inc. (“ TWI” and, together with DCL, WMH and WML, the “ Offerors”), have commenced offers to purchase (the “ Tender Offers”) substantially all of their outstanding notes and debentures for an aggregate purchase price of up to approximately $14.6 billion, subject to the Pool Tender Caps and Pool Tender SubCaps as described in the press release. In conjunction with the Tender Offers, DCL, WMH and TWI have also commenced solicitations of consents (the “ Consent Solicitations”) from holders of substantially all of their outstanding notes and debentures to adopt certain proposed amendments to the indentures governing such notes and debentures. The terms and conditions of the Tender Offers and the Consent Solicitations are set forth in the Offerors’ Offer to Purchase and Consent Solicitation Statement, dated June 9, 2025 (the “ Offer to Purchase and Consent Solicitation Statement”), that will be sent to registered holders of the applicable notes and debentures and be posted online at www. dfking. com/WBD. The information contained on this website is not intended to form a part of, or be incorporated by reference into, this Current Report on Form 8-K.

A copy of the Company’s press release announcing the Tender Offers and the Consent Solicitations is attached to this Current Report on Form 8-K as Exhibit 99.2 and is incorporated herein by reference.

This Current Report on Form 8-K (including the exhibits attached hereto) is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Tender Offers and the Consent Solicitations are being made only by,