Warner Bros. Discovery, Inc. — Director's Dealing 2017

Aug 3, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Discovery Communications, Inc. (DISC)
CIK: 0001437107
Period of Report: 2017-08-01

Reporting Person: ADVANCE LONG-TERM MANAGEMENT TRUST (Director, 10% Owner)
Reporting Person: NEWHOUSE BROADCASTING CORP (Director, 10% Owner)
Reporting Person: ADVANCE PUBLICATIONS, INC (Director, 10% Owner)
Reporting Person: NEWHOUSE FAMILY HOLDINGS, L.P. (Director, 10% Owner)
Reporting Person: ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP (Director, 10% Owner)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-01	Series A Convertible Participating Preferred Stock	$	D	434070	Disposed		Series A Common Stock (434070)	Indirect
2017-08-01	Series A Convertible Participating Preferred Stock	$	D	434070	Disposed		Series C Common Stock (434070)	Indirect
2017-08-01	Series C Convertible Participating Preferred Stock	$	D	446162	Disposed		Series C Common Stock (892324)	Indirect

Footnotes

F1: Each share of Series A Convertible Participating Preferred Stock is convertible pursuant to its terms into one share of Series A Common Stock and one share of Series C Common Stock at any time (following a stock dividend that occurred on August 6, 2014).

F2: Shares released from the escrow account governed by the Escrow Agreement, dated September 17, 2008, by and among the Issuer, Advance/Newhouse Programming Partnership and JPMorgan Chase Bank to the Issuer in accordance to the terms of such Escrow Agreement. Prior to their release in accordance with the Escrow Agreement, such shares were deemed to be beneficially owned by each reporting person.

F3: Advance/Newhouse Programming Partnership is the record holder of the Series A Convertible Participating Preferred Stock and Series C Convertible Participating Preferred Stock and therefore a reporting person hereunder. The other reporting persons own such shares through subsidiaries. Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.

F4: Each share of Series C Convertible Participating Preferred Stock is convertible pursuant to its terms into two shares of Series C Common Stock at any time (following a stock dividend that occurred on August 6, 2014).

F5: Disposed to the Issuer in an exempt transaction.