<SEC-DOCUMENT>0001387131-19-004440.txt : 20190614
<SEC-HEADER>0001387131-19-004440.hdr.sgml : 20190614
<ACCEPTANCE-DATETIME>20190614123556
ACCESSION NUMBER:		0001387131-19-004440
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190613
FILED AS OF DATE:		20190614
DATE AS OF CHANGE:		20190614

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ADVANCE LONG-TERM MANAGEMENT TRUST
		CENTRAL INDEX KEY:			0001455381
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34177
		FILM NUMBER:		19898095

	BUSINESS ADDRESS:	
		STREET 1:		FOUR TIMES SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-381-7000

	MAIL ADDRESS:	
		STREET 1:		FOUR TIMES SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEWHOUSE BROADCASTING CORP
		CENTRAL INDEX KEY:			0000914545
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34177
		FILM NUMBER:		19898096

	BUSINESS ADDRESS:	
		STREET 1:		5015 CAMPUSWOOD DRIVE
		CITY:			SYRACUSE
		STATE:			NY
		ZIP:			13057
		BUSINESS PHONE:		212-692-4400

	MAIL ADDRESS:	
		STREET 1:		C/O SABIN BERMANT & GOULD
		STREET 2:		350 MADISON AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ADVANCE PUBLICATIONS, INC
		CENTRAL INDEX KEY:			0000914546
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34177
		FILM NUMBER:		19898097

	BUSINESS ADDRESS:	
		STREET 1:		950 FINGERBOARD ROAD
		CITY:			STATEN ISLAND
		STATE:			NY
		ZIP:			10305
		BUSINESS PHONE:		7189811234

	MAIL ADDRESS:	
		STREET 1:		950 FINGERBOARD ROAD
		CITY:			STATEN ISLAND
		STATE:			NY
		ZIP:			10305

	FORMER NAME:	
		FORMER CONFORMED NAME:	ADVANCE PUBLICATIONS INC
		DATE OF NAME CHANGE:	19931108

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			NEWHOUSE FAMILY HOLDINGS, L.P.
		CENTRAL INDEX KEY:			0001455383
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34177
		FILM NUMBER:		19898098

	BUSINESS ADDRESS:	
		STREET 1:		FOUR TIMES SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036
		BUSINESS PHONE:		212-381-7000

	MAIL ADDRESS:	
		STREET 1:		FOUR TIMES SQUARE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10036

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			ADVANCE/NEWHOUSE PROGRAMMING PARTNERSHIP
		CENTRAL INDEX KEY:			0001455382
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34177
		FILM NUMBER:		19898099

	BUSINESS ADDRESS:	
		STREET 1:		5000 CAMPUSWOOD DRIVE
		CITY:			E. SYRACUSE
		STATE:			NY
		ZIP:			13057
		BUSINESS PHONE:		315-438-4100

	MAIL ADDRESS:	
		STREET 1:		5000 CAMPUSWOOD DRIVE
		CITY:			E. SYRACUSE
		STATE:			NY
		ZIP:			13057

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Discovery, Inc.
		CENTRAL INDEX KEY:			0001437107
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				352333914
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1 DISCOVERY PLACE
		CITY:			SILVER SPRING
		STATE:			MD
		ZIP:			20910
		BUSINESS PHONE:		(240) 662-2000

	MAIL ADDRESS:	
		STREET 1:		1 DISCOVERY PLACE
		CITY:			SILVER SPRING
		STATE:			MD
		ZIP:			20910

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Discovery Communications, Inc.
		DATE OF NAME CHANGE:	20080606
</SEC-HEADER>
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            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>EAST SYRACUSE</rptOwnerCity>
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            <rptOwnerCik>0001455383</rptOwnerCik>
            <rptOwnerName>NEWHOUSE FAMILY HOLDINGS, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE WORLD TRADE CENTER</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10007</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <reportingOwner>
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        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6350 COURT STREET</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>E. SYRACUSE</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>13057-1211</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
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    <nonDerivativeTable>
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                <value>Series C Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2019-06-13</value>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>12500017</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
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                    <value>12507224</value>
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            <ownershipNature>
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                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Series C-1 Convertible Participating Preferred Stock</value>
            </securityTitle>
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                <footnoteId id="F3"/>
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            <transactionDate>
                <value>2019-06-13</value>
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                <equitySwapInvolved>0</equitySwapInvolved>
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                    <footnoteId id="F1"/>
                    <footnoteId id="F3"/>
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                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
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            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
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                    <value>12500017</value>
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                <sharesOwnedFollowingTransaction>
                    <value>4099296.50</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>See Footnote</value>
                    <footnoteId id="F2"/>
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            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Call option (obligation to sell)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>31.3036</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2019-06-13</value>
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                    <value>D</value>
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                <footnoteId id="F4"/>
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                <underlyingSecurityTitle>
                    <value>Series C Common Stock</value>
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                    <value>12500000</value>
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            <securityTitle>
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                    <value>A</value>
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                <footnoteId id="F4"/>
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                <footnoteId id="F4"/>
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                <underlyingSecurityTitle>
                    <value>Series C Common Stock</value>
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                    <value>12500000</value>
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                    <value>12500000</value>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                    <value>See Footnote</value>
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    <footnotes>
        <footnote id="F1">On June 13, 2019, Advance/Newhouse Programming Partnership (&quot;A/NPP&quot;) converted 645,502 shares of Discovery, Inc.'s Series C-1 Convertible Participating Preferred Stock (&quot;Preferred Shares&quot;) into 12,500,017 shares of Discovery, Inc.'s Series C Common Stock (&quot;Common Shares&quot;).</footnote>
        <footnote id="F2">A/NPP is the record holder of the Preferred Shares, Common Shares and the call options and put options described above. The other reporting persons may be deemed to beneficially own Preferred Shares, Common Shares and the call options and put options held by A/NPP due to their control of A/NPP. Each reporting person disclaims beneficial ownership except to the extent of its pecuniary interest.</footnote>
        <footnote id="F3">Each Preferred Share is convertible pursuant to its terms into 19.3648 Common Shares at any time.</footnote>
        <footnote id="F4">On June 13, 2019, A/NPP established a credit facility backed by an equity collar transaction and an aggregate of 12,500,000 Common Shares to provide financial flexibility to support its ongoing estate planning and its investment program and for other general corporate purposes. A/NPP entered into a Share Collar Transaction (the &quot;Transaction&quot;) with an unaffiliated bank, pursuant to which A/NPP wrote European call options and purchased European put options over an aggregate of 12,500,000 Common Shares. The Transaction will be settled in cash unless A/NPP elects physical settlement.</footnote>
        <footnote id="F5">The Transaction expires evenly over a series of expiration dates from May 17, 2021 to June 28, 2021, inclusive.</footnote>
        <footnote id="F6">On the relevant expiration date, the call option will automatically be exercised (and the put option will expire unexercised) if the volume weighted average price of the Common Shares on the relevant expiration date (the &quot;Reference Price&quot;) is greater than or equal to the call option strike price; the put option will automatically be exercised (and the call option will expire unexercised) if the Reference Price is less than or equal to the put option strike price; and the call option and the put option will each expire unexercised if the Reference Price is greater than the put option strike price but less than the call option strike price.</footnote>
        <footnote id="F7">The Transaction is a &quot;zero-cost collar&quot;, in which no premium was exchanged for either the call option or the put option.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Advance/Newhouse Programming Partnership By: /s/ Oren Klein, CFO</signatureName>
        <signatureDate>2019-06-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newhouse Family Holdings, LP By: Advance Long Term Management Trust, as General Partner By: /s/ Michael A. Newhouse, Trustee</signatureName>
        <signatureDate>2019-06-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Advance Publications, Inc., By: /s/ Oren Klein, CFO</signatureName>
        <signatureDate>2019-06-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Newhouse Broadcasting Corporation, By: /s/ Oren Klein, CFO</signatureName>
        <signatureDate>2019-06-14</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Advanced Long-Term Management Trust, By: /s/ Michael A. Newhouse, Trustee</signatureName>
        <signatureDate>2019-06-14</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</SEC-DOCUMENT>
