Warner Bros. Discovery said Monday that Steven A. Miron and Steven O. Newhouse have both notified the company’s board that they have resigned as directors after the U.S. Department of Justice informed them it was investigating whether their service violated Section 8 of the Clayton Antitrust Act on overlapping boards — specifically involving Charter Communications. The section prohibits directors and officers from serving simultaneously on the boards of competitors, subject to limited exceptions. Newhouse is co-president of Advance and Miron is CEO of Advance/Newhouse Partnership, privately held by the Newhouse family. The family owns about 8% of Wbd stock through its previous holding in Discovery. Miron is also a director of Charter, as is another Newhouse family member, Michael Newhouse. \"Charter, through its Spectrum cable service, and Wbd, including through its Max streaming subscription services, both provide video distribution services to customers.\"\n\nSee full article at Deadline Film + TV\n4/1/2024 by Jill Goldsmith

Steven O. Newhouse, Steven A. Miron Resign From Warner Bros. Discovery Board Amid DOJ Probe

Steven A. Miron and Steven O. Newhouse have resigned from the board of Warner Bros. Discovery following a U.S. Department of Justice investigation into potential violations of Section 8 of the Clayton Antitrust Act. The probe focuses on their simultaneous service on the boards of Warner Bros. Discovery and Charter Communications, which are competitors in the video distribution sector. Both individuals are connected to the Newhouse family, which holds approximately 8% of WBD stock through its prior ownership in Discovery. Miron is also a director at Charter, as is Michael Newhouse, another family member. The resignation comes amid scrutiny over overlapping board memberships between competitors.