Warner Bros. Discovery reported second-quarter 2026 results on August 6, 2026, showing total revenues of $8.7 billion, an 11% decline from the prior year period. Net income attributable to shareholders fell 91% to $149 million, while Adjusted EBITDA decreased 4% to $1.9 billion. The company generated $572 million in free cash flow and ended the quarter with $3.4 billion in net debt and a leverage ratio of 3.4x. During the quarter, Warner Bros. Discovery fully repaid its $15 billion bridge loan facility by issuing a $13 billion Term Loan B and a €1.7 billion Term Loan B. The filing also discusses the ongoing proposed merger with Paramount Skydance Corporation. Warner Bros. Discovery operates in the global media and entertainment industry, creating and distributing content across television, film, streaming, and gaming platforms.