Discovery just made another round of layoffs in sports, after calling 2023 a 'rebuilding' year Though Zaslav has called 2023 a "rebuilding year for the company," it recently laid off staff from its sports division and rumors have swirled of more cuts to come. WBD also axed most of HBO Max's non-scripted division and TBS/TNT's scripted teams, and pulled back on CNN's originals. Buyouts and layoffs on ad sales teams followed. One of Zaslav's earliest and most dramatic moves was to shutter CNN's streaming service, CNN+, just weeks after it launched, eliminating hundreds of jobs. Waves of layoffs followed as he and his management team sought to find a promised $3 billion in "synergies," a figure they later increased to $4 billion. Once the deal closed, Zaslav and his team faced the gargantuan task of integrating two companies with 40,000 employees globally. Discovery overplayed its hand with hiked ad rates, insiders say, and advertisers are 'nervous' about layoffs that 'cut to the bone' Discovery CEO will tackle his top 3 challenges: streaming integration, rebuilding CNN, and finding a new leader for DC Comics ![]() Insiders describe an aggressive dealmaker and demanding boss. David Zaslav is about to shake up Hollywood as the new Discovery-WarnerMedia chief.Discovery's ad sales chief reveals how he'll tout flexible offerings and 6 new measurement deals to grab brand dollars from TV rivals Discovery as the company launches its new streamer, Max. We mapped out the 113 most powerful people at Warner Bros.The new team set out to evaluate every property in search of cost savings and ways to juice ad revenue and viewership across the organization. As part of the merger, top WarnerMedia leaders left, starting with WarnerMedia CEO Jason Kilar and including most of his deputies like WarnerMedia Studios and Networks Group CEO Ann Sarnoff and HBO Max General Manager Andy Forssell. Zaslav quickly assembled a team of Discovery vets who've been together for decades to help him integrate and lead the new company. New leadership to tackle integration challenges and synergies Here's everything to know to get caught up on the merger, challenges ahead, and how Zaslav plans to tackle them. Zaslav is facing strategy headaches at CNN, the task of launching a new streamer, and growing competition for top sports rights - all the while batting away rumors of a sale to Comcast and a stock price that fell more than 50% since the deal closed, before an uneven recovery since the beginning of the year. The company May 23 launched its new streamer, Max, part of its plan to justify the merger and compete with Netflix.īut the threat of a recession, inflation, a declining ad market, and toughening streaming market have made CEO Zaslav and his team's job of merging the companies - and slashing WBD's debt load of about $50 billion - significantly harder.Īs the company looks to wring $4 billion in synergies from its units, management has axed creative projects and headcount. film studio with Discovery's lifestyle and reality fare. Discovery, including vast swaths of cost-cutting to set the company up for growth in 2023 as it launches a new streaming service.ĪT&T's WarnerMedia merged with Discovery in 2022 in a $43 billion deal, creating a content behemoth combining Warners' HBO, CNN, and the famed Warner Bros. Click here for Morning Brew’s privacy policy.ĭavid Zaslav has spent the past year completely reorganizing Warner Bros. Layoffs and culture clashes as 40,000 employees combineĪ new content strategy that could tarnish crown jewel HBOĭC Comics, box-office strategy, sports rightsīy clicking “Sign Up,” you also agree to marketing emails from both Insider and Morning Brew and you accept Insider’s Terms and Privacy Policy. ![]() New leaders to tackle integration challenges, synergies
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