WBD Warner Bros. Discovery
8-K Current Report
Filed: February 27, 2026
Communication Services
Cable & Other Pay Television ServicesWarner Bros. Discovery (WBD) 8-K current report filed with SEC EDGAR on February 27, 2026. This page provides AI-powered analysis of reported events and material disclosures, including results of operations, corporate governance changes, agreements, and other triggering events as disclosed under Form 8-K item codes.
Reported 8-K Items4 items
- Item 1.01: Entry into a Material Definitive Agreement
- Item 1.02: Termination of a Material Definitive Agreement
- Item 7.01: Regulation FD Disclosure
- Item 8.01: Other Events
AI Filing Analysis8-K
Item 1.01 · Entry into a Material Definitive Agreement
- • WBD shareholders receive $31.00/share cash (plus up to ~$0.25/share ticking fee if close slips past Sept 30, 2026), merging into Paramount Skydance (PSKY)
- • Deal fully financed: Larry Ellison committing up to $46.72B via PIPE; RedBird adding $250M; no financing condition — closes certain once regulatory hurdles cleared
Item 1.02 · Termination of a Material Definitive Agreement
- • WBD terminated its merger agreement with Netflix on Feb 27, 2026, after board deemed a competing bid from PSKY a "Superior Proposal"
- • Netflix termination fee: $2.8B cash, paid by PSKY on WBD's behalf — on top of separate merger consideration owed to WBD shareholders
Item 7.01 · Regulation FD Disclosure
- • WBD and Paramount Sky (PSKY) announced a merger agreement on Feb 27, 2026 via joint press release
- • Prior Netflix merger agreement with WBD has been terminated — major strategic pivot away from Netflix deal
Item 8.01 · Other Events
- • WBD abandoning previously announced June 9, 2025 tax-free separation into two public companies — merger with PSKY (Paramount) is the new strategic path
- • Separation cancellation is a closing condition for the WBD-PSKY merger, signaling the deal is advancing toward completion
Other Warner Bros. Discovery 8-K Filings
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