Warner Bros. Discovery, Inc. — Director's Dealing 2012

May 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery Communications, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2012-04-27

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-27	Series A Common Stock	M	21509	$20.33	Acquired	29327	Direct
2012-04-27	Series A Common Stock	D	21509	$56.87	Disposed	7818	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-04-27	DAP Unit	$20.33	M	21509	Disposed	2012-04-15	Series A Common Stock (21509)	Direct

Footnotes

F1: The DAP Units in respect of these shares of stock vested and became payable on April 15, 2012. Under the terms of the DAP, however, the amounts payable in respect of the vested units are calculated based on the average closing prices for the 10 trading days preceding and including the vesting date and the 10 trading days after the vesting date. The DAP Units are cash-settled awards.

F2: These DAP Units vest in four annual installments beginning April 15, 2009. On vesting, the DAP Units are automatically settled in cash.