Warner Bros.’ Discovery Merger $125 Million Settlement Approved

The Delaware Chancery Court signed off Thursday on a $125 million cash settlement for investors who challenged Discovery Inc.‘s $43 billion merger with AT&T Inc.‘s WarnerMedia unit.

“I thought this was a great settlement,” Vice Chancellor J. Travis Laster said in a brief bench ruling in Wilmington, Del.

The class action settlement calls for Advance/Newhouse partnerships owned by the billionaire Newhouse family—a major shareholder in the Discovery Channel’s operator—to pay $100 million of the settlement while ex-Discovery Chairman Robert Miron and his son must cover the remaining $25 million.

It’s the second-largest pretrial class action settlement in Chancery Court history, according to ...