Warner Bros Discovery, the company created by merging Discovery Inc. and WarnerMedia, and signed a new employment agreement through the end of 2027.
24.02.2022 - 18:51 / deadline.com
Discovery CEO David Zaslav dropped his usual quota of names during the company’s quarterly earnings call — John Malone, Jack Welch, Oprah — but one name didn’t come up: Jeff Zucker.
This month’s ouster of the former CNN boss, a personal friend of Zaslav’s, is an 11th-hour headache at the news network as Discovery nears the close of its $43 billion merger with WarnerMedia. The transaction is expected to take effect in April, around the same time streaming service CNN+ hits the market.
Zaslav was asked during the call about the overlap between CNN+ and Discovery’s streaming operations, which include news. The exec said that because the merger hasn’t closed, no firm plans have been made. He then went on to offer a full-throated endorsement of CNN.
As the Discovery conference call was happening, viewers were tracking Russia’s hours-old invasion of Ukraine, which Zaslav called “a proud moment” for the news network.
“I’ve been watching a lot of CNN,” he said. “This is where you see the difference between a news service that has real, meaningful resources globally, news-gathering resources — the biggest and largest group of global journalists of any media company, maybe with the exception of the BBC.
“Here we are waking up this morning with a war. CNN is going to multiple correspondents and journalists risking their lives in Ukraine, in Poland, in Russia, on the ground. And there’s no news organization in the world that looks like CNN, that can do what CNN does. It becomes very clear as you go around the world and you look at other news channels, where people are sitting behind desks and giving their opinion about what’s going on, there’s a news network with people on the ground with journalists in bulletproof vests and helmets that
Warner Bros Discovery, the company created by merging Discovery Inc. and WarnerMedia, and signed a new employment agreement through the end of 2027.
Discovery CEO David Zaslav’s total pay package came to more than $246 million for 2021 as the company prepares to close its merger with WarnerMedia.
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Discovery shareholders are set to OK the $43 billion merger with WarnerMedia on Friday, the last big step before AT&T completes the spinoff. Ahead of the deal’s expected close next month, a who’s-in/who’s-out parlor game is gaining intensity as CEO David Zaslav finalizes the leadership team.
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