Warner Bros Discovery (WBD) has reported financial results for the quarter and year ended December 31st 2022. David Zaslav, Hollywoods new mogul. In May, I published anownership indexof the top 176 U.S. media organizations. Discovery Chief Executive Officer David Zaslav s total compensation fell more than 17% in 2020, And when asked about the future of cable, the former protector of the cable bundle acknowledged that the medium is declining, but believes it will still stick around a lot longer than people think.. Last November, Zaslav told Deadline that he would take a hands-on approach at CNN and other WarnerMedia properties. This time, the bulk of Zaslavs compensation came from stock awards ($12.5 million) and non-equity incentive plan compensation ($21.8 million). During the Evans era, the sources of corporate infighting were often esoteric. Discovery CEO David Zaslav praised CNN on Friday and said news is going to be really critical to the future of the soon to be combined Warner Bros. "David Zaslav: "The future of cable is that it's declining" but says "It offers a unique proposition to advertisers. both parties caucus processes. stretch its balance sheet, bet-tentially having little incentive tential of that. day in the state. The answer would soon come. The COVID-19 virus had accelerated cord-cutting that's causing cable TV channels to lose subscribers. Last week,Discovery reportedit had reached 20 million paying streaming subscribers worldwide by the end of September. Discovery CEO David Zaslav said Friday on CNBC that he had nothing to do with Jeff Zuckers CNN exit. While Evans principal scenario was to package the chemistry between filmmakers and top stars, Zaslavs social objectives may be more corporately focused. The Cook Political Report marks six Republican-held Senate seats in Colorado, Georgia, Iowa, Maine, Montana and North Carolina as toss ups. David Zaslav, who led the merger with CNN and Discovery, donated over $240,000. Frederick Smith, who runs the billion dollar Sinclair media empire that once offered to do anything for Trump, must not have meant with cash, donating $6,800 to the GOP and $5,800 to Democratic Sen. ChuckSchumer. Running WarnerMedia's top-tier assets like HBO and spending big on movies and shows is a far different game from the unscripted business that's Discovery's bread and butter. I dont see how this ends well. The development comes as the presumptive Democratic nominee has expanded his lead in the polls over President Donald Trump. Did Elon Musk, one of the biggest donors to Wikipedia, reallygive only $40,000 to political leaders and causesin 2020-21? Zucker and Trump were friends in the 2000s as they teamed up on the wildly popular NBC reality show "The Apprentice," but they became bitter political enemies as Trump took over the Republican Party beginning in 2015 and romped to the White House. Overall, I think wed be better off if we just had news networks, but we dont.. The Discovery-WarnerMedia merger is expected to close in mid-2022. There will once again be parties and stars and perhaps arguments. Get the best insights and analysis delivered to your inbox, 2,276 groups organized as super PACs have reported, Your California Privacy Rights/Privacy Policy. And even as Zaslav prepped the launch of streaming service Discovery+, which now has 15 million subscribers, he had thoughts about whether to suggest bundling Discovery with Disney, according to a person familiar with talks. Holiday Haunt. Craig Newmark has donated close to $100 million to journalism schools, content moderation research, new digital media outletsand journalists, as have Reid Hoffman, co-founder of LinkedIn, and big foundations like the Knight Foundation, Heritage Foundation, Open Markets Instituteand Pierre Omidyars Democracy Fund. In another coup, in 2008, Zaslav convinced Winfrey to go into business with him and create a cable channel together. Discovery Chief Executive Officer David Zaslavs total compensation fell more than 17% in 2020, topping out at $37.7 million. I do. Following this, he graduated from Boston University School of Law with a JD with honors in 1985 and started his career as an attorney with LeBoeuf, Lamb, Lieby and MacRae in New York. That may now stretch to nine months, since Zaslav, having negotiated the $43 billion Discovery-AT&T deal, has now expanded his domain to include Warner Bros, HBO and CNN. U.S. President Donald Trump gestures during a roadside stop in Bedminster, New Jersey, U.S., July 26, 2020. [50], In 2017, Zaslav was inducted into the Cable Hall of Fame. Anna Wintour, editor of Vogue, gave $6,000. Zaslav wondered how he would stack up against the likes of Netflix and Disney without more content and if he would be forced to sell if he couldn't get bigger to compete with those companies, with their seemingly bottomless pockets. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Simply log into Settings & Account and select "Cancel" on the right-hand side. Fifty years ago, Evans had to worry about filling seats in Westwood, not expanding the subscriber list in Belarus. And maybe, those legendary parties might start again. organisation Only 14.5% of the 412 owners, executives, board members and investors had given to individual candidates, traditional PACs or super PACs from January 2020 to August 2021, as trackedby the FEC. Zucker, who joined CNN in 2013 and led the network through the rise of Donald Trump to the presidency, abruptly resigned this week over a secret relationship he had with a colleague, CNN chief marketing officer Allison Gollust, which he did not disclose to the company as required. [40] Some of those projects were "practically finished" or in the late stages of post-production, including Batgirl and Scoob! His corporate boss, Charles Bluhdorn, facing him in his screening room, shouted that public companies could not dabble in porn. He then decided to re-run the films. Safra Catz, the CEO of Oracle, gave $125,000 in May to the Trump Victory committee, a joint fundraising operation between the Trump campaign and the Republican National Committee. analyse how our Sites are used. Same goes for Jason Kilars future, we presume. But we dont. Pre-pandemic, David Zaslav's end-of-summer parties in the Hamptons were a legendary networking event for anyone in media. Why? If only houses could talk: This one, however, is a battered shadow of its proud Regency past, its interior walls torn apart, trucks parked on its tennis court. The issue is that not enough of his All Rights Reserved. "Who do they want managing the economy: Trump (Mnuchin, Powell, Kudlow) or Biden (Bernie, Warren and AOC)?," Bailey said. Sprecher also gave at least $106,500 to the National Republican Senatorial Committee, the official campaign arm of Republicans running for Senate seats. Other notable S&P 500 CEO contributions to Republican led groups in the second quarter include Robert Bradway, the chief executive of biopharmaceutical company Amgen; Daniel Amos, the CEO of insurance giant Aflac; and Gregory Brown, the CEO of Motorola Solutions. Why would they go anywhere else? "He's masterful at presenting himself as an aw-shucks guy from Rockland County, but underneath in the middle of a deal he's more aggressive than one of the great whites on 'Shark Week,'" said a friend. It's now available in every corner of the globe. The merger between WarnerMedia and Discovery is reportedly set to be completed early in the spring. The lack of transparency in super PAC donations loomed as we scoured the FEC database. [46] He is chair of the Auschwitz: The Past Is Present Committee which promotes awareness of the Holocaust. Discovery CEO David Zaslav was confronted on Friday about the future of CNN, the liberal network he is set to oversee once a looming merger is official, but Not long ago when he dropped by his new home he ordered some changes: Michael Smith, All rights reserved. The CEOs of some of the biggest companies in the United States have started ramping up their donations to Republican causes as concern grows about Joe Biden's plan to raise the corporate tax rate. Powered and implemented by FactSet Digital Solutions. A Discovery spokesperson told the Post that Zaslav didnt finish his thought, adding that he uses the phrase to organize his conversations around Discoverys business. Spurred by the rapid proliferation of social media platforms, with questionable content,and a formerpresident who pummeled our free press repeatedly, its no wonder Americans are left wary and our information ecosystem is in shambles. Zaslav is expected to name Zuckers permanent replacement when the merger closes. Susan Wojcicki, a major donor to Wikipedia and CEO of YouTube,donated only $8,000through Google Netpac. AT&T CEO John Stankey, who oversees WarnerMedia, has been focused on the merger with Discovery, and is thought to be disinterested in any aspect of the CNN operation. Definitely to the left, Kernen said. You can still enjoy your subscription until the end of your current billing period. David Zaslav, Discovery's CEO, will lead the combined Discovery-WarnerMedia. For now, a trio of CNN executives will assume Zuckers responsibilities at the network. But not disclosing a consensual relationship rarely results in the defenestration of a network president. Legal Statement. Usually you ditch people. They are doing that, and there's still time," Eberhart said. The public reason given was that Zucker didn't disclose a sexual relationship with CNN executive Allison Gollust, which immediately raised eyebrows as their relationship was widely known. The results were surprising. "I, and we as a company, we are a fighter for news. And now, the former lawyer for Discovery founder John Hendricks is the new king of media, set to oversee $20 billion in content spend, topping Netflix's $17 billion. Got a confidential news tip? Zaslav also received $16,800 for a car allowance, $501 for home office expenses, $16,930 for personal security services, and $355,355 for private plane use. Afsaneh Beschloss, NPR Board of Directors, gave $614,300. During Thursdays meeting, Zaslav warned that staff reductions were likely as he continued to remove layers of management and combines jobs. Discovery CEO David Zaslav was confronted on Friday about the future of CNN, the liberal network he is set to oversee once a looming merger is official, but claimed the ousting of now-former CNN boss Jeff Zucker had nothing to do with rumors the network could shift to a nonpartisan approach. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. [42][43][44], Zaslav serves on the boards of Sirius XM, The Cable Center, Center for Communication, Grupo Televisa, Partnership for New York City, Syracuse University and USC Shoah Foundation. Sure, Henry Luce, the iconic publisher of Time, Fortuneand Life magazines, put his thumb on the scale. Farris Wilks, investor in the Daily Wire, gave $416,800 to Trump Victory and Club for Growth Action. Signup for Breaking News Alerts & Newsletters. Most importantly, they're already global. You may change or cancel your subscription or trial at any time online. Mutual Fund and ETF data provided by Refinitiv Lipper. The Discovery CEO also took aim at Fox News, describing the conservative outlet as much more of an advocacy network than a news network., I think overall wed probably be better off if we just had news networks in America, Zaslav said. Overall, the combined content spend of WarnerMedia and Discovery totaled $19 billion last year, more than Disney or even Netflix. Zaslav laughed but did not retract his comment. [35][36] Zaslav's executive compensation package includes an annual salary of $3 million with an annual $22 million bonus. As Trump and other Republicans slide in the polls, the idea that taxes could go up under a Democratic administration and Congress has forced wealthy GOP donors off the sidelines. Man, you werent kidding, Kernen said, also laughing. Powered and implemented by FactSet Digital Solutions. The Discovery Channel started in 1985 with a documentary about the frigid waters of the North Atlantic. He's unsentimental and quick to rotate executives if they are not performing, though his key aides have been with him for years. : Holiday Try full digital access and see why over 1 million readers subscribe to the FT, Purchase a Trial subscription for $1 for 4 weeks, You will be billed $69 per month after the trial ends, JPMorgan resists attempts to depose Jamie Dimon in Epstein lawsuits, Chipmakers receiving US federal funds barred from expanding in China for 10 years, UK salad shortages not down to Brexit, says Spain, Rising inflation in France and Spain fuels fears of more ECB rate increases, Bola Tinubu wins tightest Nigerian presidential election in decades, Londons most expensive house sale lined up after Saudi loan expires, Goldman Sachs raises prospect of selling parts of consumer business, Wall Street titans confront ESG backlash as new financial risk, Shell explored quitting Europe and moving to the US, Law firms warn of tougher fee negotiations and payment delays, Live news updates from February 28: Tesla to build Mexico factory, Goldman explores sale of fintech business, Live news: Eli Lilly cuts prices on insulin drugs by 70% as political pressure mounts, Generative AI is sowing the seeds of doubt in serious science, Wanted: one supertanker to stop environmental disaster in the Red Sea, The benefits of revealing neurodiversity in the workplace, Tim Peake: I do not see us having a problem getting to Mars, Holy smoke: the mystical power of palo santo, Anaximander Carlo Rovelli on the birth of critical thinking, Metaverse creator Neal Stephenson on the future of virtual reality, Smart data to help spot risk and opportunity, Lex, our agenda-setting business commentary (Premium only), Due Diligence, an exclusive M&A newsletter (Premium only). And John Malone, when you hear him, hes still a big part of your life, a big part of Discovery, if he said we need CNN to go back to reporting news". George Soros, a major donor to Wikipediawho funds many new digital media outlets through his Open Society Foundation (see our nonprofit U.S. Media Index), gave $3,679,800. Sign up for notifications from Insider! Billionaire Paul Singer, who claimed, post the CNN-Discovery merger, that his activism brought the deal about, balanced things out with his $1.7 million. Roy Bailey, a Texas businessman who is leading fundraising efforts for the Trump campaign and the Republican National Committee, explained that business leaders he speaks with says there is a concern that Biden will be influenced by more progressive leaders, such as as Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez if he became president. David Zaslav Sees Opportunity Amid Industry Turmoil as Moguls Convene in Sun Valley Warner Bros. Is it a good one? Yet, we know little about their political views or how that money is being spent. "Jeff is a good friend of mine, I cant speak to this issue, we dont own the company yet," Zaslav said. Read Next: Prime Video Delays Citadel Trailer Drop Following Greece Train Crash, Almost Famous Star Casey Likes Cast as Marty McFly in Back to the Future: The Musical, AMC Quarterly Earnings: Losses Widen, Revenues Fall Despite Avatar 2 Box Office Success, The Weeknd Sets First Lead Role in Film He Co-Wrote and Produced, Opposite Jenna Ortega and Barry Keoghan, Woody Harrelson Slams COVID Set Protocols as 'Nonsense,' Urges Hollywood to 'Stop' Forcing 'Vaccination': Thats 'Not a Free Country', Ant-Man and the Wasp: Quantumania Writer Surprised by Terrible Reviews: I Was in a Low Spot and Really Sad About It, Super Mario Bros. Movie Is Releasing Two Days Early, Michael B. Jordan Meets Reporter at 'Creed III' Premiere Who 'Teased Him all the Time' in High School: 'I Was the Corny Kid, Right? 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