Two members of the board at Warner Bros Discovery (WBD) are stepping down following the revelation of a U.S. Department of Justice antitrust probe.
Steven Miron and Steven Newhouse announced their resignations on Monday, the same day that news reports surfaced about a DOJ probe over alleged violations of the Clayton Antitrust Act.
The investigation focused on whether Miron and Newhouse accepted board positions with WBD while working for a competitor. Both work in executive roles for Advanced Publications, a major shareholder in Charter Communications, which offers premium movie networks and streaming services like Max for sale.
The resignations are likely to resolve the antitrust probe.
“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,” David Zaslav, the CEO of WBD, said in a statement. “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.”
“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,” Samuel Di Piazza, the Chairman of the Board at WBD, said in a statement. “We will miss having them as colleagues in the Board room and wish them all the best in their future endeavours.”
