Warner Bros. Discovery, Inc. — Director's Dealing 2011

May 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery Communications, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2011-04-28

Reporting Person: Colan Thomas (EVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-28	Series A Common Stock	M	2097	$32.39	Acquired	8846	Direct
2011-04-28	Series A Common Stock	M	7098	$15.34	Acquired	15944	Direct
2011-04-28	Series A Common Stock	S	9195	$43.77	Disposed	6749	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-28	Employee Stock Options (right to acquire)	$15.34	M	7098	Disposed	2012-06-10	Series A Common Stock (7098)	Direct
2011-04-28	Employee Stock Options (right to acquire)	$32.39	M	2097	Disposed	2017-03-15	Series A Common Stock (2097)	Direct

Footnotes

F1: Pursuant to a plan entered into in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.

F2: This stock option vested 33% on both of March 10, 2010 and March 10, 2011 and the vesting of the remaining 34% will take place on March 10, 2012.

F3: This option vests in four equal annual installments beginning March 15, 2011.