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All That Zas: Warner Bros. Discovery CEO’s Tough Tactics Have Many Partners Zigging
Warner Bros. Discovery CEO David Zaslav has employed tough cost cutting tactics, leading to frayed relationships with the NBA, advertisers and more
Last week, WBD disclosed that it wrote off $9.1 billion in value for its collection of cable channels — a nod to the harsh reality that the days of double-digit annual growth in affiliate fees and advertising are not coming back. In a call with investors last week, WBD CEO David Zaslav attributed the declines to “a generational disruption impacting our industry,” noting that “even two years ago, market valuations and prevailing conditions for legacy media companies were quite different than they are today.” Zaslav and his key lieutenants have focused tightly on WBD’s balance sheet, which is filled with $37 billion in debt that was loaded on the company’s shoulders when Discovery Communications merged with AT&T’s WarnerMedia in April 2022.
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