Company: WBD
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437107-25-000096
Chunk: 46

Company: Warner Bros. Discovery, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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 the “Defendants”) in the U.S. District Court for the Southern District of New York alleging claims under federal and New York antitrust laws.On January 6, 2025, Disney announced that it had entered into a definitive agreement to combine certain of Hulu Live TV’s assets with Fubo (the “Fubo Transaction”) and provide Fubo a senior unsecured term loan of up to $145 million in January 2026 (the “Fubo Loan”). If Disney funds the Fubo Loan prior to the consummation of the Fubo Transaction, the Company and Fox will participate in a portion of the Fubo Loan by providing loans to Disney with substantially the same economic terms as the Fubo Loan. A $130 million termination fee will be payable by Disney to Fubo if the transaction is terminated under certain circumstances. The Company and Fox have agreed to reimburse a portion of the termination fee to Disney if it becomes payable. In addition, the Defendants reached a settlement with Fubo related to Fubo’s antitrust claims and collectively paid $220 million to Fubo in January 2025, of which the Company’s share was $55 million.On January 10, 2025, the Defendants announced their decision to discontinue the Venu Sports joint venture and not launch its streaming service effective immediately. Discovery FamilyHasbro Inc. (“Hasbro”) had the right to put the entirety of its remaining 40% interest in Discovery Family to the Company. Hasbro did not exercise the right by the election period expiration date of March 31, 2025. As of March 31, 2025, Hasbro’s noncontrolling interest was reclassified from redeemable noncontrolling interest to noncontrolling interest outside of stockholders’ equity on the Company’s consolidated balance sheets.Accumulated Other Comprehensive LossThe table below presents the changes in the components of accumulated other comprehensive loss, net of taxes (in millions).Three Months Ended March 31, 2025Currency Translation DerivativesPension Plan and SERP LiabilityAccumulated Other Comprehensive LossBeginning balance$(1,008)$15 $(74)$(1,067)Other comprehensive income (loss) before reclassifications231 9 — 240 Reclassifications from accumulated other comprehensive loss to net income— (13)— (13)Other comprehensive income (loss)231 (4)— 227 Ending balance$(777)$11 $(74)$(840)

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WARNER BROS.