Warner Bros. Discovery Director Anton J. Levy Disposes of Shares in Merger Acquisition

Transaction Summary

On October 6, 2026, Warner Bros. Discovery, Inc. (WBD) Director Anton J. Levy disposed of 585,000 shares of Series A Common Stock at a cash merger consideration price of $31.0167 per share, yielding gross proceeds of approximately $18.14 million. Following the transaction, Levy's directly held shares fell to zero.

In addition, 33,067 deferred stock units (DSUs) reported in Table II were cancelled and converted into the right to receive cash equal to $31.0167 per unit (approximately $1.03 million) under the terms of the merger agreement.

Merger Context

The disposition was not an open-market sale but rather occurred automatically pursuant to the Agreement and Plan of Merger dated February 27, 2026, between Warner Bros. Discovery, Inc., Paramount Skydance Corporation, and Prince Sub Inc., whereby WBD survived as a wholly owned subsidiary of Paramount.

Significance and Takeaways

Because this transaction represents the closing of an acquisition/merger where all outstanding shares are acquired for cash consideration, it has Low trading significance as an indicator of insider sentiment or forward operational performance.