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Warner Bros. Discovery’s Zaslav Sees M&A ‘Opportunities’ in Next 2-3 Years: ‘There Are a Lot of Players That Are Losing a Lot of Money’

Warner Bros. Discovery will be "opportunistic" about seeking M&A deals in the next two or three years, president and CEO David Zaslav said.

Regarding Paramount Global — which has been in talks about a potential sale to Skydance Media and has been reviewing a joint bid from Sony Pictures-Apollo — Zaslav didn’t address WBD’s recent interest in exploring a merger with the company, but he commented, “Great storytelling heritage.” Zaslav met briefly late last year with Paramount’s then-CEO Bob Bakish to size up a potential merger but those talks didn’t continue. “Our job is to be very strategic about what content do we have… and making sure we have what we think creates real shareholder value.” He noted that WBD recently picked up college football rights sublicensed from ESPN. “So whether it’s Superman or Batman or Wonder Woman, our whole DC franchise that James Gunn is really driving, or whether it’s ‘Harry Potter’ or ‘Lord of the Rings’ or ‘Game of Thrones,’ we sit with content.”

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