Discovery Executives Resign As DOJ Investigates Anti-Trust Violations

( – Warner Bros. Discovery is having a bit of a shake-up. Two bigwigs, Steven Miron and Steven Newhouse, have said their goodbyes to the Board of Directors. It’s all thanks to a heads-up from the Department of Justice, who’ve got their eyes peeled for potential anti-trust hiccups.

The board had to do some resizing, going from 13 members down to 11 after the two Steves stepped down. What got them in hot water? Well, it seems they were double-dipping, serving on both Warner Bros. Discovery and Charter Communications’ boards. The Justice Department doesn’t take too kindly to that as it can cause a conflict of interest.

See, Charter and Warner Bros. Discovery are in the same game, selling video services to folks. The DOJ’s all about fair play, making sure competition stays lively and prices stay fair. They’ve got this rule, Section 8 of the Clayton Act, which basically says no sharing directors with the competition. And they mean it.

Warner Bros. Discovery kept it classy though. Miron and Newhouse didn’t stick around to fight the DOJ. Nope, they bowed out gracefully, saying they’d rather not stir the pot. “We’re out,” they said, leaving without admitting to any wrongdoing.

Over at the Justice Department, they’re feeling pretty good about this. Deputy Assistant Attorney General Michael Kades sees it as a victory for the little guy. He remarked that it’s all about keeping the playing field even.

Warner Bros. Discovery’s CEO, David Zaslav, gave Miron and Newhouse a tip of the hat for their service. He thanked them for everything, praising their industry smarts and commitment to the company’s success.

And Samuel Di Piazza Jr., chair of the board chimed in too, saying they’d miss the two Steves in the boardroom. He also thanked them for their hard work, wishing them well on their next adventure.

So, it’s a bit of a bittersweet moment for Warner Bros. Discovery. They’re saying goodbye to two veterans but also showing they’re all about playing by the rules. As for Miron and Newhouse, well, it’s onto the next chapter for them.

Copyright 2024,