Warner Bros. Discovery seeks consent for note indenture amendments

Warner Bros. Discovery, Inc.'s subsidiaries, Discovery Communications, LLC and Discovery Global Holdings, Inc., have commenced consent solicitations from holders of certain outstanding notes. The proposed amendments to the indentures governing these notes aim to extend the deadline for an offer of junior lien secured notes to March 4, 2027, and specify terms contingent on the proposed acquisition of WBD by Paramount Skydance Corporation. Concurrently, Paramount has launched separate tender and exchange offers for some WBD notes. Holders who provide consent will receive a cash payment of $2.50 or 2.50 per $1,000/ 1,000 principal amount, which Paramount will fund.