Discovery Communications, Inc. (NASDAQ:DISCA) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

M. LaVoy Robison tendered his resignation from the Board of Directors (the “Board”) of Discovery Communications, Inc. (the “Company”), effective on May 17, 2017. Mr. Robison was a Class II common stock director, the Chairman of the Company’s Audit Committee and a member of the Company’s Nominating and Corporate Governance Committee.

On May 17, 2017, the Board of the Company, by a duly adopted resolution, filled the vacancy created by Mr. Robison’s resignation by appointing Daniel E. Sanchez to the Board, to be effective as of May 17, 2017. Mr. Sanchez will serve as a Class II Director, where his initial term will expire at the Company’s 2019 annual meeting of stockholders. The Board determined, after considering all of the facts and circumstances, that Mr. Sanchez is an “independent director” as defined by the NASDAQ listing rules.

Since January 2007, Mr. Sanchez has engaged in the private practice of law, representing individual and business clients in a variety of non-litigation areas. In 2012, Mr. Sanchez earned his master’s degree in tax law (LL.M.), and currently focuses his practice on the area of tax planning. He was a full member of the Board of Ethics of the City of Stamford, CT, which he was appointed to by the mayor in 2012. He served as a director of Starz from January 2013 until December 2016, when it merged with Lions Gate Entertainment Corporation. Mr. Sanchez is the nephew of our director John Malone.

Mr. Sanchez will bring a unique legal perspective to the Company’s Board, focused in particular on tax law. Mr. Sanchez’s perspective and expertise will assist the Board in developing strategies that would take into consideration a wide range of issues resulting from the application and evolution of tax laws and regulations.

No arrangements exist between the Company and Mr. Sanchez or any other person to which he was selected as a director. There are no transactions in which Mr. Sanchez has an interest requiring disclosure under Item 404(a) of SEC Regulation S-K.

Mr. Sanchez will be compensated for his service on the Company’s Board to the existing compensation program for non-employee directors set forth in the Company’s proxy statement dated April 5, 2017 for the Company’s 2017 annual meeting of stockholders.

About Discovery Communications, Inc. (NASDAQ:DISCA)
Discovery Communications, Inc., (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments are U.S. Networks, which consists principally of domestic television networks and Websites; International Networks, which consists primarily of international television networks and Websites; Education and Other, which consists principally of curriculum-based product and service offerings, and production studios, and Corporate and Inter-segment Eliminations. It distributes customized content in the United States, and over 220 other countries and territories in over 40 languages. The Company’s global portfolio of networks includes television brands, such as Discovery Channel, TLC, Animal Planet, Investigation Discovery, Science and Velocity (known as Turbo outside of the United States). Discovery Communications, Inc. (NASDAQ:DISCA) Recent Trading Information
Discovery Communications, Inc. (NASDAQ:DISCA) closed its last trading session down -0.47 at 25.11 with 3,577,495 shares trading hands.