In accordance with section First.4 of Additional Provision Eleven (hereinafter, AP 11th) of Law
22/2015, of July 20, on Auditing Accounts (hereinafter, LAA), the Spanish subsidiaries of Warner
Bros. Discovery, Inc. (hereinafter, Warner Bros. Discovery), are required to publish and make
accessible a report regarding corporate tax or taxes of similar nature consolidated at the level of
the ultimate parent company (EU public country by country report), given that:
- The following Spanish subsidiaries are entities subject to Spanish law, considered
medium or large sized, according to the thresholds set out in Article 3 of the LAA:
- WARNER BROS ENTERTAINMENT ESPAÑA, S.L.
- DISCOVERY NETWORKS, S.L.
- TURNER BROADCASTING SYSTEMS ESPAÑA, S.L.U.
- HOME BOX OFFICE SPAIN VENTURES, S.L.
- WARNER BROS INTERNATIONAL TELEVISION PRODUCTION ESPAÑA, S.L.
- Warner Bros. Discovery is the ultimate parent company, not governed by the law of
an EU Member State. The net consolidated annual turnover of the group at the end of
the fiscal year exceeded a total of 750,000,000 euros in each of the last two
consecutive fiscal years according to its consolidated financial statements.
To comply with this obligation, the Spanish subsidiaries have requested Warner Bros. Discovery
to provide all the information required by the AP 11th of the LAA. The report includes data only
for the Spanish operations of the group, as the group’s ultimate parent company, Warner Bros.
Discovery, has not made available the data regarding the group’s worldwide operations.
Publication of the Spanish only data is provided initially due to the accelerated 6-month reporting
timetable in Spain. The Group will publish its full EU Public CbC report in another EU Member
State, which will include the relevant information as prescribed under the Directive
2021/2101/EU, which amended Directive 2013/34/EU as regards disclosure of income tax
information by certain undertakings and branches, by December 31, 2026 (i.e., 12 months after
the balance sheet date). This report will also be published on UPE’s website, accessible to anyone
free of charge.
This report has been approved by the directors of the above-mentioned Spanish Subsidiaries and
has been filed with the Madrid Trade Register by 30 June 2026 by each of them, as established in
the AP 11th Law 22/2015.
Section 1: General Information
| Field |
Value |
| Ultimate Parent |
Warner Bros. Discovery, Inc. |
| Registered Office |
USA |
| Financial Year |
01.01.2025 – 31.12.2025 |
| Reporting Currency |
EUR |
| Tax Reporting Basis |
Yes |
Section 2: Country Overview
| Country |
Revenue |
Profit Before Tax |
Tax Paid |
Tax Accrual |
Accumulated Earnings |
Employees |
| Spain |
445,666,035 |
28,897,005 |
8,178,474 |
20,327,711 |
80,422,012 |
288 |
Section 3: Subsidiaries
| Name |
Activity |
| Discovery Networks, S.L. |
Sales, marketing and distribution support |
| Latin American Golf, S.L.U. |
Sports rights distribution support |
| Turner Broadcasting Systems España, S.L.U. |
Sales, marketing and distribution support |
| Home Box Office Spain Ventures, S.L. |
Administrative and support services |
| Warner Bros Entertainment España, S.L. |
Sales, marketing and distribution support |
| Warner Bros International Television Production España, S.L. |
TV production support services |
Section 4: Omitted Information
None.
Section 5: Explanation
The difference between cash taxes paid and accrued was driven by a corporate tax refund related to prior years received by Discovery Networks S.L.