WBD Terminates Agreement, Incurs New Debt

Ticker: WBD · Form: 8-K · Filed: 2024-10-09T00:00:00.000Z

Sentiment: neutral

Topics: debt-issuance, agreement-termination, financial-obligation

Related Tickers: WBD

TL;DR

WBD just terminated a deal and took on new debt. Watch closely.

AI Summary

Warner Bros. Discovery, Inc. announced on October 4, 2024, the termination of a material definitive agreement and the creation of a direct financial obligation. The company also filed financial statements and exhibits related to these events.

Why It Matters

This filing indicates a significant change in Warner Bros. Discovery's contractual and financial obligations, potentially impacting its future operations and financial structure.

Risk Assessment

Risk Level: medium — The termination of a material agreement and the creation of new financial obligations suggest potential strategic shifts or financial pressures for the company.

Key Numbers

Key Players & Entities

FAQ

What was the material definitive agreement that was terminated?

The filing does not specify the details of the terminated material definitive agreement.

What is the nature of the new direct financial obligation?

The filing indicates the creation of a direct financial obligation, specifically mentioning Senior Notes due in 2030 with interest rates of 4.302% and 4.693%.

What is the total amount of the new financial obligation?

The filing does not explicitly state the total dollar amount of the new financial obligation, but it references specific senior notes.

Why was the material definitive agreement terminated?

The filing does not provide a reason for the termination of the material definitive agreement.

What are the implications of these events for Warner Bros. Discovery's financial health?

The filing suggests a change in the company's financial structure due to the termination of an agreement and the incurrence of new debt, but specific implications require further analysis.

From the Filing

0001437107-24-000177.txt : 20241009 0001437107-24-000177.hdr.sgml : 20241009 20241009162850 ACCESSION NUMBER: 0001437107-24-000177 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 186 CONFORMED PERIOD OF REPORT: 20241004 ITEM INFORMATION: Entry into a Material Definitive Agreement ITEM INFORMATION: Termination of a Material Definitive Agreement ITEM INFORMATION: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241009 DATE AS OF CHANGE: 20241009 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Warner Bros. Discovery, Inc. CENTRAL INDEX KEY: 0001437107 STANDARD INDUSTRIAL CLASSIFICATION: CABLE & OTHER PAY TELEVISION SERVICES [4841] ORGANIZATION NAME: 06 Technology IRS NUMBER: 352333914 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-34177 FILM NUMBER: 241363061 BUSINESS ADDRESS: STREET 1: 230 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10003 BUSINESS PHONE: 212-548-5555 MAIL ADDRESS: STREET 1: 230 PARK AVENUE SOUTH CITY: NEW YORK STATE: NY ZIP: 10003 FORMER COMPANY: FORMER CONFORMED NAME: Discovery, Inc. DATE OF NAME CHANGE: 20180306 FORMER COMPANY: FORMER CONFORMED NAME: Discovery Communications, Inc. DATE OF NAME CHANGE: 20080606 8-K 1 disca-20241004.htm 8-K disca-20241004 0001437107 false 0001437107 2024-10-04 2024-10-04 0001437107 us-gaap:CommonClassAMember 2024-10-04 2024-10-04 0001437107 disca:SeniorNotesDue20304.302Member 2024-10-04 2024-10-04 0001437107 disca:SeniorNotesDue20304.693Member 2024-10-04 2024-10-04 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported):  October 4, 2024 Warner Bros. Discovery, Inc. (Exact name of registrant as specified in its charter) Commission File Number:   001-34177 Delaware 35-2333914 (State or other jurisdiction of incorporation) (IRS Employer Identification No.) 230 Park Avenue South New York , New York 10003 (Address of principal executive offices, including zip code) 212 - 548-5555 (Registrant's telephone number, including area code) (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: [ ☐ ]   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ☐ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ☐ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ☐ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Series A Common Stock WBD Nasdaq Global Select Market 4.302% Senior Notes due 2030 WBDI30 Nasdaq Global Market 4.693% Senior Notes due 2033 WBDI33 Nasdaq Global Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 1.01 Entry into a Material Definitive Agreement On October 4, 2024, Discovery Communications, LLC (“DCL”) entered int

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