U.S. COMPANY FILING
Warner Bros. Discovery, Inc. — Form 10-K filed 2026-02-27
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Warner Bros. Discovery reported FY2025 revenue of $37.3B, down 5% YoY, and net income of $727M, a turnaround from a net loss of $11.3B in 2024. Streaming segment Adjusted EBITDA surged to $1.37B from $677M, while Global Linear Networks declined 21%. The company completed $17.7B debt tender offers, recording a $2.9B gain. It also announced a merger with Paramount Skydance, facing risks from linear declines and credit downgrades.
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