FORWARD-LOOKINGSTATEMENTS
Certainstatementsandinformationinthisearningsreleasemayconstitute“forward-lookingstatements”
withinthemeaningofthePrivateSecuritiesLitigationReformActof1995,includingstatementsregardingfinancial
performance,earningsexpectations,expecteddriversandguidance,includingfutureoperatingincome,adjusted
EPS,freecashflow,capitalallocation,includingsharerepurchases,plansfordirect-to-consumerprofitabilityand
timing;valueof,andopportunitiesforgrowthbasedon,ourintellectualproperty,contentofferings,businesses
andassets;businessplans;plans,expectations,strategicprioritiesandinitiatives,consumersentiment,behavior
ordemandanddriversofgrowthandprofitabilityandotherstatementsthatarenothistoricalinnature.Any
informationthatisnothistoricalinnatureincludedinthisearningsreleaseissubjecttochange.Thesestatements
aremadeonthebasisofmanagement’sviewsandassumptionsregardingfutureeventsandbusinessperformance
asofthetimethestatementsaremade.Managementdoesnotundertakeanyobligationtoupdatethese
statements.
Actualresultsmaydiffermateriallyfromthoseexpressedorimplied.Suchdifferencesmayresultfrom
actionstakenbytheCompany,includingrestructuringorstrategicinitiatives(includingcapitalinvestments,asset
acquisitionsordispositions,neworexpandedbusinesslinesorcessationofcertainoperations),ourexecutionof
ourbusinessplans(includingthecontentwecreateandIPweinvestin,ourpricingdecisions,ourcoststructure
andourmanagementandotherpersonneldecisions),ourabilitytoquicklyexecuteoncostrationalizationwhile
preservingrevenue,thediscoveryofadditionalinformationorotherbusinessdecisions,aswellasfrom
developmentsbeyondtheCompany’scontrol,including:
• theoccurrenceofsubsequentevents;
• deteriorationindomesticandglobaleconomicconditionsorfailureofconditionstoimproveas
anticipated;
• deteriorationinorpressuresfromcompetitiveconditions,includingcompetitiontocreateoracquire
content,competitionfortalentandcompetitionforadvertisingrevenue;
• consumerpreferencesandacceptanceofourcontent,offerings,pricingmodelandpriceincreases,and
correspondingsubscriberadditionsandchurn,andthemarketforadvertisingsalesonourDTCservices
andlinearnetworks;
• healthconcernsandtheirimpactonourbusinessesandproductions;
• international,politicalormilitarydevelopments;
• regulatoryandlegaldevelopments;
• technologicaldevelopments;
• labormarketsandactivities,includingworkstoppages;
• adverseweatherconditionsornaturaldisasters;and
• availabilityofcontent.
Suchdevelopmentsmayfurtheraffectentertainment,travelandleisurebusinessesgenerallyandmay,
amongotherthings,affect(orfurtheraffect,asapplicable):
• ouroperations,businessplansorprofitability,includingdirect-to-consumerprofitability;
• demandforourproductsandservices;
• theperformanceoftheCompany’scontent;
• ourabilitytocreateorobtaindesirablecontentatorunderthevalueweassignthecontent;
• theadvertisingmarketforprogramming;
• incometaxexpense;and
• performanceofsomeorallCompanybusinesseseitherdirectlyorthroughtheirimpactonthosewho
distributeourproducts.
AdditionalfactorsaresetforthintheCompany’sAnnualReportonForm10-Kfortheyearended
September30,2023,includingunderthecaptions“RiskFactors,”“Management’sDiscussionandAnalysisof
FinancialConditionandResultsofOperations,”and“Business,”quarterlyreportsonForm10-Q,includingunder
thecaptions“RiskFactors”and“Management’sDiscussionandAnalysisofFinancialConditionandResultsof
Operations,”andsubsequentfilingswiththeSecuritiesandExchangeCommission.
Theterms“Company,”“we,”and“our”areusedinthisreporttorefercollectivelytotheparentcompanyand
thesubsidiariesthroughwhichourvariousbusinessesareactuallyconducted.
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