Warner Bros. Discovery, Inc.
Warner Bros. Discovery, Inc. Enters into a Bridge Loan Agreement
Summary
On June 26, 2025, Warner Bros. Discovery, Inc.'s subsidiary, WarnerMedia Holdings, Inc., entered into a Non-Investment Grade Leveraged Bridge Loan Agreement for an 18-month $17.0 billion term loan to finance the anticipated early settlement of previously-announced cash tender offers and consent solicitations, repayment of existing credit facilities, and for general corporate purposes. The loan is secured by a lien on substantially all of the personal property assets of Warner Bros. Discovery, Inc., WarnerMedia Holdings, Inc., and certain of its wholly-owned domestic subsidiaries. Concurrently, Warner Bros. Discovery, Inc. and its subsidiaries entered into an amendment to an existing multicurrency revolving credit agreement, reducing the commitments to $4 billion and providing for the early termination upon the consummation of a planned Separation Transaction. The amendment permits incurrence of debt and liens in connection with the bridge loan agreement and aligns the negative covenants with those in the bridge loan agreement.
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Exhibits (2)
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About Warner Bros. Discovery, Inc.
Warner Bros. Discovery, Inc. is a prominent global media and entertainment company known for its extensive portfolio of content and entertainment services. The company's primary function is to create and distribute varied media products, including films, television programming, and digital content. Among its notable features is ownership of Warner Bros. Pictures, a significant player in the film industry, and HBO, a well-regarded cable network known for producing acclaimed original series. Warner Bros. Discovery also operates Discovery Channel, adding to its diverse range of content catering to different audiences. The company impacts multiple sectors, including cinema, television broadcasting, and digital streaming services. Its role in the market is bolstered by an ability to reach a vast audience through a mix of traditional and innovative platforms, as well as its strategic focus on expanding its digital and streaming presence. This makes Warner Bros. Discovery a key entity in shaping the future of entertainment consumption worldwide.
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