Advance/Newhouse Programming Partnership - Apr 8, 2022 Form 4 Insider Report for Warner Bros. Discovery, Inc. (WBD)

Role: Director
Signature: ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP, By: /s/ Oren Klein, Its: Chief Financial Officer
Stock symbol: WBD
Transactions as of: Apr 8, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/12/2022, 06:53 PM
Next filing: Dec 15, 2023

Transactions Table

Type	Sym	Class	Transaction	Shares	Change %	Shares After	Date	Ownership	Footnotes
transaction	WBD	Series C common stock, par value $0.01 per share	Other	-91M	-100%	0	Apr 8, 2022	Direct	F1
transaction	WBD	Series A common stock, par value $0.01 per share	Other	-70.7M	-100%	0	Apr 8, 2022	Direct	F1
transaction	WBD	Series A common stock, par value $0.01 per share	Other	+194M		194M	Apr 8, 2022	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Pursuant to a reclassification exempt under Rule 16b-7, each share of Series C common stock, par value $0.01 per share and Series A common stock, par value $0.01 per share beneficially owned by Advance/Newhouse Programming Partnership, a New York Partnership ("ANP") was reclassified and converted into such number of shares of Series A common stock, par value $0.01 per share (the "Common Stock") of Warner Bros. Discovery, Inc. (the "Company"), as provided in amended and restated certificate of incorporation of the Company pursuant to the business combination of the Company with a segment of AT&T Inc. ("AT&T"), pursuant to which Magallanes, Inc., a wholly owned subsidiary of AT&T, which owned the WarnerMedia segment of AT&T, was merged with and into Drake Subsidiary, Inc. a wholly owned subsidiary of the Company.

Content

Pursuant to a reclassification exempt under Rule 16b-7, each share of Series C common stock, par value $0.01 per share and Series A common stock, par value $0.01 per share beneficially owned by Advance/Newhouse Programming Partnership, a New York Partnership ("ANP") was reclassified and converted into such number of shares of Series A common stock, par value $0.01 per share (the "Common Stock") of Warner Bros. Discovery, Inc. (the "Company"), as provided in amended and restated certificate of incorporation of the Company pursuant to the business combination of the Company with a segment of AT&T Inc. ("AT&T"), pursuant to which Magallanes, Inc., a wholly owned subsidiary of AT&T, which owned the WarnerMedia segment of AT&T, was merged with and into Drake Subsidiary, Inc. a wholly owned subsidiary of the Company.

Remarks:

Each of Newhouse Broadcasting Corporation and Advance Publications, Inc. may be deemed to beneficially own shares of Series A common stock, par value $0.01 per share of Warner Bros. Discovery, Inc. held by Advance/Newhouse Programming Partnership, a New York Partnership ("ANP") due to their control of ANP.