Steven Miron and Steven Newhouse are resigning from the Warner Bros. Discovery board. The resignations come as they disclose an antitrust probe from the Department of Justice looking at whether their board memberships violate antitrust laws.
“Messrs. Miron and Newhouse informed WBD that, without admitting any violation, and in light of the changing dynamics of competition in the entertainment industry, they elected to resign rather than to contest the matter,” the company said in a statement. Warner Bros. Discovery adopted a resolution to keep the board of directors at 11 members rather than appoint replacements.
Miron and Newhouse were two of the six designees selected by Discovery Inc. for the WBD board when Warner Bros. and Discovery merged in April 2022. Miron was a member of the Discovery board since 2008 as CEO of Advance/Newhouse Partnership and senior executive officer of media investment firm Advance. Steven Newhouse was also a Discovery director dating back to 2008 and serves as copresident of Advance.
“From our investment in the Discovery Channel in the earliest days of cable, through Bob Miron’s service as Discovery’s Board Chair and Steve and my service on this board, and with the enormous efforts of John Malone and David Zaslav, we are proud to have played a role in the building of this great company and remain a large stockholder,” Newhouse said. “We are disappointed to leave the Board, but wish to do the right thing for WBD.”
“On behalf of our Board and WBD’s leadership team, I want to thank Steve Miron and Steven Newhouse for their extraordinary service and longstanding commitment to Discovery and Warner Bros. Discovery,” the company’s CEO David Zaslav said. “Both Steve and Steven have been a great source of wise counsel and tremendous industry insight over the years, and they played an integral role in getting this new company up and running and on a path to long-term growth. We are enormously grateful for their steadfast support and wish them the very best.”
Samuel A. Di Piazza, Jr., WBD’s board chair, said: “On behalf of the entire WBD Board of Directors, I would like to express my gratitude to Steve Miron and Steven Newhouse for their service on behalf of WBD’s stockholders and their many contributions to the deliberations and work of the Board. We will miss having them as colleagues in the Board room and wish them all the best in their future endeavors.”
TheWrap’s Mike Roe contributed to this story.
