Warner Bros. Discovery, Inc. — Director's Dealing 2016

May 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery Communications, Inc. (DISCA)
CIK: 0001437107
Period of Report: 2016-05-04

Reporting Person: ROBISON M LAVOY (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-04	Series A Common Stock	M	6013	$6.152	Acquired	24794	Direct
2016-05-04	Series A Common Stock	F	1392	$26.59	Disposed	23402	Direct
2016-05-04	Series C Common Stock	M	6013	$5.967	Acquired	24473	Direct
2016-05-04	Series C Common Stock	M	6013	$5.979	Acquired	30486	Direct
2016-05-04	Series C Common Stock	M	6013	$5.979	Acquired	36499	Direct
2016-05-04	Series C Common Stock	F	4110	$26.24	Disposed	32389	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-04	Director Stock Option (right to acquire)	$6.152	M	6013	Disposed	2016-05-04	Series A Common Stock (6013)	Direct
2016-05-04	Director Stock Option (right to acquire)	$5.967	M	6013	Disposed	2016-05-04	Series C Common Stock (6013)	Direct
2016-05-04	Director Stock Option (right to acquire)	$5.979	M	6013	Disposed	2016-05-04	Series C Common Stock (6013)	Direct
2016-05-04	Director Stock Option (right to acquire)	$5.979	M	6013	Disposed	2016-05-04	Series C Common Stock (6013)	Direct

Footnotes

F1: This option is fully vested and exercisable.