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Did David Zaslav’s Grand Vision Fail? As WBD and Other Media Giants Move Pieces Around, They Can’t Outrun the Cable Math
David Zaslav is undoing the Discovery-WarnerMedia merger, as Warner Bros. Discovery can't outrun the math of the declining cable TV business.
A new company will house CNN, TNT, TBS, Discovery, Food Network, HGTV and a raft of other channels with roots in linear cable in addition to Discovery+ and Bleacher Report. Monday’s news drove a 7% spike out of the gate after closing at $9.82 on Friday — but since then, the price has drifted down and erased those gains, with the stock in negative territory. Long-term, it’s a melting ice cube as advertising revenue and affiliate fees shrink in the coming years along with the subscriber base for traditional cable.
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