8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): September 3, 2019

THE WALT DISNEY COMPANY

(Exact name of registrant as specified in its charter)


Delaware	001-38842	83-0940635
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

500 South Buena Vista Street Burbank, California		91521
(Address of principal executive offices)		(Zip Code)

(818) 560-1000

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	DIS	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01.

Other Events.

On September 3, 2019, The Walt Disney Company (the “Company”) entered into an Underwriting Agreement with Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, with respect to the offer and sale of $500,000,000 aggregate principal amount of its Floating Rate Notes due 2021 (the “2021 Floating Rate Notes”), $500,000,000 aggregate principal amount of its Floating Rate Notes due 2022 (the “2022 Floating Rate Notes”), $500,000,000 aggregate principal amount of its 1.650% Notes due 2022 (the “2022 Fixed Rate Notes”), $1,500,000,000 aggregate principal amount of its 1.750% Notes due 2024 (the “2024 Fixed Rate Notes”), $2,000,000,000 aggregate principal amount of its 2.000% Notes due 2029 (the “2029 Fixed Rate Notes”) and $2,000,000,000 aggregate principal amount of its 2.750% Notes due 2049 (the “2049 Fixed Rate Notes” and, collectively with the 2021 Floating Rate Notes, the 2022 Floating Rate Notes, the 2022 Fixed Rate Notes, the 2024 Fixed Rate Notes and the 2029 Fixed Rate Notes, the “Notes”).

The Notes will be issued pursuant to that certain Indenture, dated as of March 20, 2019, between the Company, TWDC Enterprises 18 Corp., as guarantor, and Citibank, N.A., as Trustee. The Notes have been registered under the Securities Act of 1933, as amended (the “Act”) pursuant to a Registration Statement on Form S-3 (No. 333-233595) previously filed with the Securities and Exchange Commission (the “Commission”) under the Act.

Copies of the Underwriting Agreement, the officer’s certificates of the Company establishing the terms of the Notes, the forms of Notes and the opinion of Cravath, Swaine & Moore LLP as to the validity of the Notes and related guarantees are filed as exhibits hereto and incorporated herein by reference. The Company is filing this Current Report on Form 8-K so as to file with the Commission certain items that are to be incorporated by reference into its Registration Statement.


	1.1			Underwriting Agreement, dated September 3, 2019, among The Walt Disney Company, TWDC Enterprises 18 Corp. and Citigroup Global Markets Inc. and J.P. Morgan Securities LLC, as representatives of the several underwriters named therein.

	4.1			Indenture (incorporated by reference from Exhibit 4.1 to The Walt Disney Company’s Current Report on Form 8-K filed on March 20, 2019).

	4.2			Officer’s Certificate, dated as of September 6, 2019, establishing the 2021 Floating Rate Notes and their terms.

	4.3			Officer’s Certificate, dated as of September 6, 2019, establishing the 2022 Floating Rate Notes and their terms.

	4.4			Officer’s Certificate, dated as of September 6, 2019, establishing the 2022 Fixed Rate Notes and their terms.

	4.5			Officer’s Certificate, dated as of September 6, 2019, establishing the 2024 Fixed Rate Notes and their terms.

	4.6			Officer’s Certificate, dated as of September 6, 2019, establishing the 2029 Fixed Rate Notes and their terms.

	4.7			Officer’s Certificate, dated as of September 6, 2019, establishing the 2049 Fixed Rate Notes and their terms.

	4.8			Form of 2021 Floating Rate Notes (included as Exhibit A to Exhibit 4.2).

	4.9			Form of 2022 Floating Rate Notes (included as Exhibit A to Exhibit 4.3).

	4.10			Form of 2022 Fixed Rate Notes (included as Exhibit A to Exhibit 4.4).

	4.11			Form of 2024 Fixed Rate Notes (included as Exhibit A to Exhibit 4.5).

	4.12			Form of 2029 Fixed Rate Notes (included as Exhibit A to Exhibit 4.6).

	4.13			Form of 2049 Fixed Rate Notes (included as Exhibit A to Exhibit 4.7).

	5.1			Opinion of Cravath, Swaine & Moore LLP.

	23.1			Consent of Cravath, Swaine & Moore LLP (included as part of Exhibit 5.1).

	104			Cover Page Interactive Data File (embedded within the Inline XBRL Document)


THE WALT DISNEY COMPANY

By:		/s/ Jolene E. Negre
Name:		Jolene E. Negre
Title:		Associate General Counsel and Assistant Secretary