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In recent news, Warner Bros. Discovery is making headlines as two of its directors, Steven Miron and Steven Newhouse, are resigning following a U.S. Department of Justice investigation into a potential antitrust violation. This investigation stems from their participation on the board, which may have violated Section 8 of the Clayton Antitrust Act.
Both Miron and Newhouse were appointed as directors in April 2022 as part of the WarnerMedia and Discovery merger. Miron is the CEO of Advance/Newhouse Partnership, a media company, and Newhouse is co-president of Advance. Their terms on the Warner Bros. board were set to expire in 2025.
Instead of contesting the DOJ matter, both directors voluntarily elected to resign from their positions, effective immediately. Despite their resignation, neither Miron nor Newhouse admitted any violation.
The DOJ identified Charter, a Connecticut-based media company, as the conflicting company. It was revealed that Advance representatives held seats on both Warner Bros.’ board and Charter’s board, leading to concerns about competition and consumer choice.
Deputy Assistant Attorney General Michael Kades of the Justice Department’s Antitrust Division emphasized the importance of enforcing antitrust laws to ensure fair competition and protect consumer interests.
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