Item 8.01. Other Events
On November 22, 2022, Discovery Communications, LLC ("DCL"), a wholly owned
subsidiary of Warner Bros. Discovery, Inc., issued notices for (i) the
redemption in full of all $191,979,000 aggregate principal amount outstanding of
its 3.250% Senior Notes due 2023 (CUSIP: 25470DAH2) (the "3.250% Notes"), in
accordance with the terms of the indenture governing the 3.250% Notes and (ii)
the redemption in full of all $795,865,000 aggregate principal amount
outstanding of its 2.950% Senior Notes due 2023 (the "2.950% Notes" and together
with the 3.250% Notes, the "Notes") (CUSIP: 25470DAQ2), in accordance with the
terms of the indenture governing the 2.950% Notes.
The Notes will be redeemed on December 22, 2022 (the "Redemption Date") at a
redemption price with respect to each Note equal to the greater of (i) 100% of
the principal amount of the Notes being redeemed and (ii) the sum of the present
values of the remaining scheduled payments of principal and interest thereon
(exclusive of interest accrued to the Redemption Date and assuming that the
2.950% Notes mature on February 20, 2023) discounted to the Redemption Date on a
semi-annual basis at a comparable treasury rate plus 20 basis points, plus
accrued and unpaid interest thereon to the Redemption Date.
On the Redemption Date, the applicable redemption prices will become due and
payable on the Notes and, unless DCL defaults in the payment of the applicable
redemption prices, interest on the Notes will cease to accrue on and after the
Redemption Date. The notices of redemption specifying the terms, conditions and
procedures for the redemption of the Notes are available through U.S. Bank Trust
Company, National Association, located at One Federal Street, 10th Floor,
Boston, Massachusetts, 02110, as paying agent for the Notes. The foregoing does
not constitute a notice of redemption for the Notes.
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Item 9.01. Financial Statements and Exhibits
Inline XBRL Instance Document - the instance document does not appear in the
101 Interactive Date File because its XBRL tags are embedded within the Inline XBRL
document
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit
101)
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