Daniel E. Sanchez will join Warner Bros. Discovery's Board of Directors, effective Oct. 1, and stand for election by the Company's stockholders at the 2025 Annual Meeting of Stockholders, the company announced on Wednesday.

Warner Bros. Discovery has named attorney Daniel E. Sanchez, the nephew of John Malone, to its board, effective Oct. 1. The board had voted at its last meeting to expand to 12 directors. Sanchez will stand for election at the 2025 annual shareholders meeting next summer. WBD said he was added as an independent director.

Attorneys who reached a $125 million settlement for investors who challenged Discovery Inc.'s merger with AT&T Inc.'s WarnerMedia unit now seek $24.5 million to cover legal fees.

Warner Bros. Discovery faces declining earnings and challenges with debt amid reduced TV viewership and loss of NBA rights, impacting profitability. See more here.

Malone is a major shareholder in a number of media-related companies, including the Liberty companies (which control SiriusXM, Formula 1, the Atlanta Braves and other properties) as well as Charter Communications. He is also a mentor to WBD CEO David Zaslav.