Warner Bros. Discovery Announces Commencement of Cash Tender Offer for an Aggregate Tender Cap of up to $1,750,000,000 for

3.900% Senior Notes due 2024 issued by Discovery Communications, LLC
3.900% Senior Notes due 2024 issued by Scripps Networks Interactive, Inc.
4.000% Senior Notes due 2055 issued by Discovery Communications, LLC 
4.650% Senior Notes due 2050 issued by Discovery Communications, LLC
4.950% Senior Notes due 2042 issued by Discovery Communications, LLC
4.875% Senior Notes due 2043 issued by Discovery Communications, LLC
5.200% Senior Notes due 2047 issued by Discovery Communications, LLC
5.300% Senior Notes due 2049 issued by Discovery Communications, LLC
4.650% Global Notes due 2044 issued by Warner Media, LLC
4.850% Global Notes due 2045 issued by Warner Media, LLC
4.900% Global Notes due 2042 issued by Warner Media, LLC
5.350% Global Notes due 2043 issued by Warner Media, LLC
5.050% Senior Notes due 2042 issued by WarnerMedia Holdings, Inc.

NEW YORK, May 9, 2024 /PRNewswire/ -- Warner Bros. Discovery, Inc. ("Warner Bros. Discovery" or the "Company") today announced that, in connection with the Company's previously announced plan to reduce debt, its wholly-owned subsidiaries, Warner Media, LLC, Discovery Communications, LLC and WarnerMedia Holdings, Inc. (each, an "Issuer" and together, the "Issuers"), have commenced a cash tender offer (the "Tender Offer") to purchase up to $1,750,000,000 aggregate purchase price (excluding accrued and unpaid interest, the "Aggregate Tender Cap") of the outstanding notes described in the table below (together, the "Notes"), for the consideration and in the order of priority listed in the table below. Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase, dated May 9, 2024 (the "Offer to Purchase").

Issuer


Title of Security


Aggregate
Principal Amount Outstanding


CUSIP


Acceptance Priority
Level (1)


Reference U.S. Treasury Security


Bloomberg Reference
Page/ Screen(2)


Fixed Spread (basis points) (3)

Discovery Communications, LLC


3.900% Senior Notes due 2024


$483,810,000


25470DBC2


1


2.25% due November 15, 2024


FIT3


+25

Scripps Networks Interactive, Inc.


3.900% Senior Notes due 2024


$11,920,000


811065AC5


1


2.25% due November 15, 2024


FIT3


+25

Discovery Communications, LLC


4.000% Senior Notes due 2055



$1,643,454,000


25470DBL2

25470DBK4

U25478AH8


2


4.25% due February 15, 2054


FIT1


+195

Discovery Communications, LLC


4.650% Senior Notes due 2050


$959,344,000


25470DBH1


3


4.25% due February 15, 2054


FIT1


+198

Discovery Communications, LLC


4.950% Senior Notes due 2042


$284,940,000


25470DAG4


4


4.50% due February 15, 2044


FIT1


+237

Discovery Communications, LLC


4.875% Senior Notes due 2043


$514,735,000


25470DAJ8


5


4.50% due February 15, 2044


FIT1


+199

Discovery Communications, LLC


5.200% Senior Notes due 2047


$1,250,000,000


25470DAT6


6


4.50% due February 15, 2044


FIT1


+203

Discovery Communications, LLC


5.300% Senior Notes due 2049


$750,000,000


25470DBG3


7


4.25% due February 15, 2054


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