Discovery chief David Zaslav, whose sizable corner of the media business is getting a lot bigger, said he had previously looked at the idea of creating a “global HBO,” but all the best series were taken.
“We couldn’t have come together with the old Time Warner. … It’s a great brand but there is nothing in the suitcase. Now the suitcase is full,” he said during a call with Wall Street analysts to dissect the combination of his company with AT&T-owned WarnerMedia.
The landscape-altering deal comes as both companies are in the midst of major course-correction aimed at countering secular declines in linear viewership and advertising spending. As AT&T grapples with high debt ($169 billion as of March 31) and the massive cost of spectrum to roll out 5G, CEO John Stankey is divesting the Time Warner assets just three years after closing the purchase. The deal completion came...
“We couldn’t have come together with the old Time Warner. … It’s a great brand but there is nothing in the suitcase. Now the suitcase is full,” he said during a call with Wall Street analysts to dissect the combination of his company with AT&T-owned WarnerMedia.
The landscape-altering deal comes as both companies are in the midst of major course-correction aimed at countering secular declines in linear viewership and advertising spending. As AT&T grapples with high debt ($169 billion as of March 31) and the massive cost of spectrum to roll out 5G, CEO John Stankey is divesting the Time Warner assets just three years after closing the purchase. The deal completion came...
- 5/17/2021
- by Jill Goldsmith and Dade Hayes
- Deadline Film + TV
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