The exotic of the Warner Bros. Discovery Atlanta campus is pictured after the Writers Guild of America began its strike against the Union of Motion Pictures and Television Producers, in Atlanta, Georgia, on May 2, 2023.
Alyssa Pointer | Reuters
Two Warner Bros. Discovery principals, Steven Miron and Steven Newhouse, are resigning following a U.S. Department of Justice investigation into a potential antitrust defiling, according to a company release Monday.
The company said Miron and Newhouse, who were both appointed as directors in April 2022 as in the name of of the WarnerMedia and Discovery merger, were being investigated as to whether their participation on the board was in violation of Section 8 of the Clayton Antitrust Act, which by prohibits the same directors or companies from serving simultaneously on the boards of competitors.
Miron is the CEO of privately held method company Advance/Newhouse Partnership and a senior executive officer at Advance, which invests in media and technology theatre troupes, according to the release. Newhouse is co-president of Advance.
Both of their terms on the Warner Bros. board were set to breathe out in 2025.
Rather than contesting the DOJ matter, the company said both Miron and Newhouse voluntarily elected to resign from their assertions, effective immediately. Neither director admitted any violation.
“We are proud to have played a role in the building of this wonderful company and remain a large stockholder. We are disappointed to leave the Board, but wish to do the right thing for WBD,” Newhouse said in a account.
In a Monday evening statement, the DOJ said the conflicting company is Charter, a Connecticut-based media company which, similar to Warner Bros.’ walk platform Max, provides video distribution services. According to the DOJ, Advance representatives held seats on both Warner Bros.’ trustees and Charter’s board.
“Today’s announcement is a win for consumers,” Deputy Assistant Attorney General Michael Kades of the Justice Rest on’s Antitrust Division said in a statement. “In enacting Section 8 of the Clayton Act, Congress was concerned that competitors who shared headmen would compete less vigorously to provide better services and lower prices. We will continue to vigorously administer the antitrust laws when necessary to address overreach by corporations and their designated agents.”