I'm trying to understand the breadth of his power, so here is what I've found so far:

> Under the deal, which is expected to close in mid-2022, AT&T would receive $43 billion in an all-stock transaction. AT&T shareholders would receive stock representing 71% of the new company; Discovery shareholders would own 29% of the company. The combined company would be run by Discovery President and CEO David Zaslav.

> Malone holds 26.5% of the voting power, the largest single shareholder, for Discovery. The combined directors and executive officers as a group, about 20 people, have 28.2% of the voting power. He has more than 1.1 million shares of Series A stock; nearly 6.2 million shares of Series B stock, which means he holds 95% of that stock class; and nearly 12.2 million shares of Series C stock, of which he holds 3.7%.


What exactly is his leverage here? If he only has 26.5% of the voting power is it just the threat of him selling shares and sabotaging their stock price or something?


https://archive.is/2021.06.21-180515/https://www.bizjournals.com/denver/news/2021/05/17/john-malone-discovery-warnermedia-merger.html