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FORM			10-K

 

 

Title of Each Class			Trading Symbols			登録されている各取引所の名称
Series A Common Stock			WBD			ナスダック・グローバル・セレクト・マーケット
2030年満期 4.302% シニア・ノート			WBDI30			The Nasdaq Global Market
2033 年満期 4.693%シニア・ノート			WBDI33			The Nasdaq Global Market

登録者が証券法第405条に定義される著名な経験豊富な発行者である場合は、チェックマークで示してください。はい ✓ いいえ ×

登録者が本法第13条または第15条(d)に基づき報告書の提出を要しない場合は、チェックマークで示してください。はい ¨いいえ ý

登録者が（1）過去12か月間（または登録者が当該報告書を提出する必要があったより短い期間）において、1934年証券取引法第13条または第15条(d)に基づき提出が義務付けられているすべての報告書を提出したか、および（2）過去90日間において当該提出要件の対象となっていたかを、チェックマークで示してください。はい ✓ いいえ ×

登録者が過去12か月間（または登録者が当該ファイルの提出を義務付けられていたより短い期間）に、規則S-T第405条（本章§232.405）に基づき提出が義務付けられているすべてのインタラクティブデータファイルを電子的に提出したかどうかを、チェックマークで示してください。はい ✓いいえ ✗

登録者が大規模加速開示企業、加速開示企業、非加速開示企業、小規模報告会社または新興成長企業であるかどうかを、チェックマークで示してください。「大規模加速開示企業」、「加速開示企業」、「小規模報告会社」および「新興成長企業」の定義については、証券取引所法規則12b-2を参照してください。

Large accelerated filer

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Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

新興成長企業の場合、登録者が証券取引法第13条(a)に基づき提供される新規または改訂された財務会計基準への準拠について延長移行期間を利用しないことを選択した場合は、チェックマークで示してください。

登録者が、財務報告に係る内部統制の有効性に関する経営陣の評価について、サーベンス・オクスリー法第404条(b)項（15 U.S.C. 7262(b)）に基づく報告書及び宣誓供述書を、監査報告書を作成または発行した登録公認会計士事務所により提出したかどうかを、チェックマークで示してください。 ☒

証券が法第12条(b)に基づき登録されている場合、提出書類に含まれる登録者の財務諸表が、以前に発行された財務諸表の誤りの訂正を反映しているかどうかを、チェックマークで示してください。

該当する修正事項のうち、§240.10D-1(b)に基づき、当該回復期間中に登録企業の役員が受領したインセンティブ報酬の回収分析を必要とする修正再表示が含まれる場合は、チェックマークで明示すること。

登録者が（証券取引法第12b-2条に定義される）ペーパーカンパニーであるかどうかを、チェックマークで示してください。はい ☐いいえ ☐

登録者の非関連者が保有する議決権付普通株式及び議決権なし普通株式の合計時価総額は、当該株式の直近の売買価格を参照して算定したもので、登録者の直近の第二四半期（2025年6月30日）の最終営業日時点において、約280億ドルであった。

登録者の普通株式の各クラスの発行済株式総数は、2026年2月12日現在で以下の通りでした：

 

シリーズa普通株式、額面1株当たり0.01ドル			2,479,929,515

本10-K年次報告書第III部の第10項から第14項までに要求される特定の情報は、登録者が2026年定時株主総会向けに作成した確定代理人招集説明書（改正1934年証券取引法第14A規則に基づき証券取引委員会に提出されるもの）を参照することにより、ここに組み込まれる。

本10-K年次報告書に含まれる特定の記述は、1995年私的証券訴訟改革法の意味における将来予測に関する記述に該当します。これには、当社の事業、マーケティング及び運営戦略、買収事業の統合、新製品・新サービスの提供、財務見通し、ならびに予想される資金源及び資金使途に関する記述が含まれます。 「予想する」「想定する」「確信する」「継続する」「推定する」「期待する」「予測する」「将来」「意図する」「計画する」「潜在的な」「 「予測する」「計画する」「戦略」「目標」などの用語、および「～かもしれない」「～かもしれない」「～すべき」「～するだろう」「～するであろう」などの将来形または仮定法の動詞、ならびに将来の事業または財務実績に関する議論に関連して使用されるその他の類似の表現は、将来に関する記述であることを示しています。 将来に関する記述において、当社が将来の結果や事象に関する期待や確信を表明する場合、そのような期待や確信は誠実な意思に基づき、合理的な根拠があると信じられていますが、その期待や確信が結果として実現する保証はありません。実際の結果や事象が予想と大きく異なる可能性のある要因の一部（すべてではありません）を以下に列挙します：

•パラマウント・スカイダンス・コーポレーション（「PSKY」）との間で提案されている取引の完了。これにより、PSKYはワーナー・ブラザース・ディスカバリー・インク（「当社」）を、予定された条件および時期に基づき取得する（「PSKY合併」）。

•PSKY合併の終了を引き起こす可能性のあるいかなる事象、変更その他の状況の発生。これには、当社の株主がPSKY合併を承認しないリスク、およびPSKY合併に必要な規制当局の承認が得られないリスク、あるいは予期せぬ条件付きで承認されるリスクが含まれます。

•PSKY合併の条件のいずれかを適時に満たさないこと、またはPSKY合併を適時または有利な条件で完了しないこと、もしくは全く完了しないこと；

•PSKY合併の発表、係争中または完了が、当社の継続的な事業運営またはWBD普通株式の市場価格に及ぼす影響；

•PSKY合併に関連する予期せぬ費用、実行リスク、および運営上の課題（継続的な事業運営から経営陣の時間が割かれることによる混乱に関連するリスクを含む）

•当社が事業を展開する業界における既存または新規の競合他社からの競争圧力の増大；

•マクロ経済状況、業界動向、消費者行動の変化、または加入者数の予想外の減少により、国内外のテレビ広告支出が減少した場合；

•米国政府による関税の賦課（当社業界に直接的または間接的に適用される関税を含む）および外国政府による報復関税；

•製品・サービス開発および市場受容に関連する不確実性（新規テレビ・通信技術向け番組開発・提供、ならびに当社ストリーミングサービスの成功を含む）

•海外の初公開コンテンツおよび既存コンテンツライブラリに対する市場需要；

•ネガティブな評判や、当社ブランド、評判、またはタレントへの損害；

•ストリーミング加入者目標の達成；

•販売代理店やその他のビジネスパートナーとの意見の相違；

•流通顧客と制作スタジオの継続的な統合；

•業界動向（スポーツ番組、長編映画、テレビ番組、テレビコマーシャル制作のタイミングおよび支出を含む）

•業界全体のストライキの可能性または期間（例：2023年の全米脚本家組合（WGA）および全米映画俳優組合・全米テレビ・ラジオ芸術家連盟（SAG-AFTRA）のストライキ）、選手ロックアウト、その他主要なエンターテインメント業界組合、アスリート、または当社のスポーツ番組、テレビ番組、長編映画、インタラクティブエンターテインメントの開発・制作に関わる者への影響SAG-AFTRA）のストライキなど）、主要なエンターテインメント業界組合、アスリート、または当社のスポーツ番組、テレビ番組、長編映画、インタラクティブエンターテインメント（例：ゲーム）の開発・制作に関与する者で、団体交渉協定の対象となる者に対するプレイヤーロックアウトその他の労働争議の影響；

•財務予測の作成に使用される見積り及び仮定に伴う固有の不確実性；

•当社の負債水準（ワーナーメディア事業の買収に関連して発生した多額の負債を含む）および将来の債務契約遵守状況；

•有利な条件で、かつ適時に、あるいは全く資金調達または借り換えを獲得・実行することに関連する課題；

•当社の企業信用格付けまたは債務固有の信用格付け、あるいは見通しの変更；

•法令及び政府規制（米国政府その他の国際政府、連邦通信委員会及び国際的な類似機関の規制、並びにデータプライバシー規制を含むがこれらに限定されない）の変更、またはこれらへの遵守の失敗もしくは不能；

•法的手続きまたは紛争（当社によるワーナーメディア事業の買収またはPSKY合併に関連するものを除く）の不利な結果、または規制手続きによる不利な結果；

•脅威または実際のサイバー攻撃およびサイバーセキュリティ侵害；

•当社コンテンツの盗用、および当該コンテンツの無断複製、配布、展示；ならびに

•一般的な経済・事業環境、外国為替レートの変動、パンデミックなどの世界的出来事、当社事業・運営拠点が所在する地域に影響を及ぼす自然災害、ならびに当社が事業を展開する市場における政治的不安定性または混乱。

将来に関する記述は、様々なリスクや不確実性の影響を受け、これらは時間の経過とともに変化します。これらの記述は、記述が行われた時点における経営陣の期待と仮定に基づいており、将来の結果を保証するものではありません。

これらのリスクは、当社貸借対照表に計上されている資産（のれんその他の無形資産を含む）の回収可能性に影響を及ぼす可能性があります。 経営陣の予想や前提、および当社が行う将来に関する記述の継続的な妥当性は、確実に見通すことはできず、米国および世界経済・規制環境に影響を与える広範な要因、当社固有の要因、ならびに本10-K年次報告書内の項目1A「リスク要因」および項目7「経営陣による財務状況および経営成績の分析」を含むその他の箇所で記載されているその他の要因により変更される可能性があります。 「経営陣による財務状況及び経営成績の分析」に記載される事項を含む。

実際の成果および結果は、本セクションおよび本10-K年次報告書内の他の箇所で論じられている要因、または当社のその他のSEC提出書類で開示されている要因により、当社の将来に関する記述で表明されている内容や過去の財務実績と大きく異なる可能性があります。 これらの将来に関する記述およびリスク、不確実性その他の要因は、本10-K年次報告書の日付時点でのみ有効であり、当社は、本報告書に含まれるいかなる将来に関する記述についても、当社の当該見通しに関する変更、または当該記述の根拠となる事象・状況・環境の変化を反映させるための更新・修正情報を提供する義務または約束を明示的に否認します。

•PSKY合併の完了は、多くの条件を満たすことを前提としており、それらの条件の多くは当事者の制御範囲外です。これらの条件が満たされない、または免除されない場合、PSKY合併は予定された期間内に完了しない、あるいは全く完了しない可能性があります。

None.

Age: 66

Executive Officer since 2007

Age: 48

Executive Officer since 2017

Age: 51

Age: 58

Executive Officer since 2008

Age: 56

Age: 62

Executive Officer since 2019

Age: 54

Executive Officer since 2014

Age: 70

Executive Officer since 2022

NM - Not meaningful