Todd Spangler NY Digital Editor Steven Miron and Steven Newhouse resigned from the Warner Bros. Discovery board after the Justice Department informed them it was investigating “whether their service on the Board of Directors violated Section 8 of the Clayton Antitrust Act,” the company announced Monday.
Miron, CEO of media company Advance/Newhouse Partnership and a senior executive officer at the Newhouse family’s investment business Advance, and Newhouse, co-president of Advance, were both independent directors of Warner Bros.
Discovery. Their resignations are effective immediately. Following the receipt of Miron’s and Newhouse’s resignations, on April 1, the board adopted a resolution to reduce the size of the board from 13 to 11 directors.
According to the Justice Department, Section 8 of the Clayton Act, which “Congress made a per se violation of the antitrust laws,” prohibits directors and officers from serving simultaneously on the boards of competitors subject to limited exceptions.
Read more on variety.com