Warner Bros. Discovery, Inc. — Director's Dealing 2010

Apr 1, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery Communications, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2010-03-30

Reporting Person: Hollinger Mark G (Pres. & CEO, DNI)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-30	Series A Common Stock	M	74514	$13.79	Acquired	94534	Direct
2010-03-30	Series A Common Stock	M	269750	$14.53	Acquired	364284	Direct
2010-03-30	Series A Common Stock	D	344264	$32.36	Disposed	20020	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2010-03-30	Stock Appreciation Right	$13.79	M	74514	Disposed	2010-03-15	Series A Common Stock (74514)	Direct
2010-03-30	Stock Appreciation Right	$14.53	M	269750	Disposed	2010-03-15	Series A Common Stock (269750)	Direct

Footnotes

F1: This stock appreciation right may only be settled in cash.

F2: This stock appreciation right was automatically exercised on March 15, 2010. Under the terms of the grant, the ending value for the grant could not be determined until March 30, 2010.