NEW
YORK, April 11, 2025 /PRNewswire/ -- Warner
Bros. Discovery, Inc. (the "Company") (Nasdaq: WBD) today announced
that Dr. John C. Malone has decided
not to stand for re-election to the Company's Board of Directors
and will be transitioning to the role of Chair Emeritus, effective
upon the expiration of his term at the 2025 Annual Meeting of
Stockholders ("Annual Meeting").
As Chair Emeritus, Dr. Malone will continue to regularly attend
Board meetings and provide strategic counsel and support to the
Board and management team.
"John possesses one of the most brilliant strategic minds our
industry has ever known. His exceptional insights and visionary
perspective on the global media landscape and its future have been
invaluable to me personally and pivotal in shaping the trajectory
and remarkable growth of Discovery and now at Warner Bros.
Discovery. Working alongside John has profoundly enriched our
ability to navigate complex challenges, seize transformative
opportunities, and create lasting value," said David Zaslav, President and Chief Executive
Officer of Warner Bros. Discovery. "As Chair Emeritus, John's
unparalleled counsel, deep expertise, and clarity of vision will
continue to shape our leadership team and Board's decisions as we
unlock the full potential of our business. The partnership and
friendship we've built over more than 30 years has been one of the
true joys of my career, and I'm looking forward to continuing this
journey with John in this new role."
"On behalf of the full Board, I would like to thank John for his
contributions to Warner Bros. Discovery," said Samuel A. Di Piazza, Jr., Chair of the Warner
Bros. Discovery Board of Directors. "John has been instrumental in
overseeing the development of Warner Bros. Discovery's strategy and
charting our course to navigate the current media landscape. We are
fortunate to have the enduring benefit of his unparalleled
expertise and insights as he assumes his new role of Chair
Emeritus."
"It has been a privilege to serve on the Warner Bros. Discovery
Board and work alongside David and his exceptional team to help
guide the company through an industry-defining merger and its
ongoing transformation. A constant through this journey has been my
long-standing partnership with David, built on deep trust and his
powerful combination of operational excellence and decisive
leadership," said Dr. Malone. "The Board and management team have
made incredible progress making the company more resilient, agile
and positioned for profitable growth. I am confident Warner Bros.
Discovery is on the right path and I look forward to remaining
actively involved, not only as a significant stockholder, but in
this important role helping to shape the growth trajectory as the
company evaluates important strategic and structural opportunities
ahead and as a fan of our world-class assets and the engaging
storytelling that set this company apart."
Warner Bros. Discovery intends to nominate Anton Levy for election by stockholders at the
Annual Meeting. With the addition of Mr. Levy and Dr. Malone's
decision not to stand for election, the Board will continue to be
comprised of 13 directors, 12 of whom will be independent,
following the Annual Meeting. Information about the Annual Meeting
is available in the Company's proxy statement, which is being filed
with the SEC.
About Warner Bros. Discovery
Warner Bros. Discovery is a leading global media and
entertainment company that creates and distributes the world's most
differentiated and complete portfolio of branded content across
television, film, streaming and gaming. Available in more than 220
countries and territories and 50 languages, Warner Bros. Discovery
inspires, informs and entertains audiences worldwide through its
iconic brands and products including: Discovery Channel, Max,
discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food
Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT,
TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science
Channel, Warner Bros. Motion Picture Group, Warner Bros. Television
Group, Warner Bros. Pictures Animation, Warner Bros. Games, New
Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies,
Discovery en Español, Hogar de HGTV and others. For more
information, please visit www.wbd.com.
Cautionary Statement Concerning Forward-Looking
Statements
Information set forth in this communication contains certain
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are based on current expectations,
forecasts, and assumptions that involve risks and uncertainties and
on information available to Warner Bros. Discovery as of the date
hereof. The Company's actual results could differ materially from
those stated or implied due to risks and uncertainties associated
with its business, which include the risk factors disclosed in the
Company's filings with the U.S. Securities and Exchange Commission,
including but not limited to the Company's most recent Annual
Report on Form 10-K and reports on Form 10-Q and Form 8-K.
Forward-looking statements include statements regarding the
Company's expectations, beliefs, intentions or strategies regarding
the future, and can be identified by forward-looking words such as
"anticipate," "believe," "could," "continue," "estimate," "expect,"
"intend," "may," "should," "will" and "would" or similar words.
Forward-looking statements include, without limitation, statements
regarding future financial and operating results, the Company's
plans, objectives, expectations and intentions, and other
statements that are not historical facts. Warner Bros. Discovery
expressly disclaims any obligation or undertaking to disseminate
any updates or revisions to any forward-looking statement contained
herein to reflect any change in the Company's expectations with
regard thereto or any change in events, conditions or circumstances
on which any such statement is based.
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SOURCE Warner Bros. Discovery, Inc.
