Warner Bros Discovery CEO David Zaslav Positions Merged Company As Fifth Broadcast Network, Skips Streaming Talk – Upfronts

Speaking to advertisers following its merger with WarnerBros Discovery in its first local square, CEO David Zaslav essentially heralded it as the fifth largest broadcaster in the United States and vowed to overcome any skepticism about its prospects.

“I am very confident in our ability to develop both creatively and financially,” he said. “Our amazing people and creative partners, these diverse perspectives and experiences are invaluable to our organization and our history.” He also focused on the company’s “world-class production and distribution capabilities” and the variety of movie and television tickets he brings to the table. “We only have the content that the public wants,” he said.

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A year ago this week, Zaslav recalled that Discovery and AT&T shocked the industry by announcing a Wall Street merger, which was secretly negotiated. “Against all odds,” Zaslav said of the deal. “But we are here and we cannot be happy. “We couldn’t be more excited about what we are doing and we are honored by what it stands for and the opportunity that awaits us.”

Zaslav dropped the names (as he usually does), shouting Discovery Talent at the Hulu Theater in Madison Square Garden. He also mentioned the original Warner Bros., which founded the same film studio nearly a century ago, as well as John Malone, Ted Turner and Steve Ross, who vowed to “realize the vision” they all had for the media business. . Another light he brought was more unexpected: Rupert Murdoch. Three decades ago, Zaslav recalls, Murdoch not only did extraordinary things and “broadened the landscape,” but launched the Fourth Broadcasting Network and fed it for NFL rights.

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Today, Zaslav says, Discovery has more access for viewers aged 25 to 54 than the top four goals. Larger audience between 25 and 54 years of age than any of the four broadcast networks.

It should be noted that Zaslav hasn’t said anything about streaming services on HBO Max or Discovery +, although both have received announcements since last year. Instead, he focused on the Warner Bros. legacy and the potential of a merger with Discovery, pinpointing CNN and confirming it wouldn’t allow it to outperform rival cable outlets in its subtle and biased approaches. Instead, he said: “We will support journalism … the facts and the truth. And advocate of disadvantaged news consumers and Americans who seek more accurate information and less shouting and conflict. “

In closing, he said: “This is truly a moment for us, both for the company and for our industry.”

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CEOs have traditionally made no announcements on the fronts, which are more of a sales and programming area, even though Disney CEO Bob Chapeck took the stage yesterday at the Disney event. He wasn’t surprised by the crowd of shoppers at the Hulu Theater in Madison Square Garden when they saw him pick up the microphone, but it was unusual to see a hard-working executive admit, “I’m a little nervous.” From day one of the $ 43 billion merger between WarnerMedia and Discovery, Zaslav informed those who had not worked for him in years that he intended to be the practical leader of the troops.

“This is a big day for me,” Zaslav said. “It’s a great day for us. This is a real moment, we come together as one company. “

The merger concluded last month, with AT&T taking over WarnerMedia in the transaction, remaining the majority shareholder but relinquishing control of the company to Zaslav and his superiors.

The company’s response to the advertising market, primarily to the destruction of cable network assets, will be one of many tests for the newly merged company. Like his mainstream media peers, he’s trying to maintain a steady income while also continuing to fund his streaming push. HBO Max, which will be at the center of the streaming effort, upped its advertising level in mid-2021, but the company hasn’t disclosed any subscriber numbers or revenue, describing the results as an incentive.

Meanwhile, uncertainty about how a pure gaming media company like Discovery views the move to streaming, as it seeks to squander billions in savings from the merged entity, weighs on investors. Shares of Warner Bros. Discovery fell 30% after the deal went official on April 8.