Netflix Inc.
Netflix Secures New Credit Facilities for Merger Financing
Summary
On December 19, 2025, Netflix, Inc. entered into a Senior Unsecured Revolving Credit Agreement and a Senior Unsecured Delayed Draw Term Loan Credit Agreement, collectively providing $15 billion in unsecured funding. The proceeds will be used to finance the cash portion of the purchase price under the Merger Agreement with Warner Bros. Discovery, Inc., pay related fees and expenses, and for general corporate purposes. The Revolving Credit Agreement provides for a $5 billion unsecured revolving credit facility, while the DDTL Credit Agreement includes a $10 billion unsecured term loan facility. Both agreements have customary covenants and events of default.
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About Netflix Inc.
Netflix Inc. is an American conglomerate in the entertainment industry focused on streaming services and production of television content and films. Its primary function is to offer a subscription-based streaming service that provides a wide array of films, documentaries, and television series across diverse genres. Since its inception as a DVD rental service by mail, Netflix has evolved to a dominant player in the digital streaming market, impacting sectors such as media, technology, and telecommunications. Notable for its original programming, including critically acclaimed series and films, Netflix has a significant influence on viewing habits and content consumption globally. Its innovation in content delivery and recommendation algorithms contribute to its market significance, often setting standards in content accessibility and viewing personalization. Additionally, Netflix operates internationally, offering content in multiple languages to a global audience, reflecting its role as a major force in the cultural and entertainment landscape.
Official SEC Documents
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