Warner Bros. Discovery Board Members Resign Amid Antitrust Probe
Originally Published 1 year ago — by Hollywood Reporter
Two members of the Newhouse family, Steven Newhouse and Steve Miron, have resigned from the board of Warner Bros. Discovery due to inquiries from the U.S. Department of Justice regarding potential violations of antitrust laws. The resignations come as a response to the investigation into whether their service on the board violated Section 8 of the Clayton Antitrust Act, which addresses corporate directors serving on the boards of competitors. The Newhouse family collectively owns about 8.1 percent of WBD’s outstanding shares and has large stakes in other companies such as Charter, Reddit, Conde Nast, and The Ironman Group.