One of the most significant corporate transactions in the movie and entertainment industry during 2021 was the announced merger between WarnerMedia and Discovery. While regulatory approval for the $43B deal is not expected until mid-2022, the merger is expected to close and will leave the combined Warner Bros. Discovery free to make its own destiny in entertainment.
Discovery’s David Zaslav will oversee the new company, and has announced an audacious goal of attracting at least 200M streaming customers over the next five years. Zaslav recognizes that content is king, and plans to invest billions to create a constant flow of new movies and series by leveraging all the company’s production resources, which include Warner Bros., Discovery, HBO, CNN, TNT, TBS among others.
“Nothing is entitled,” says Zaslav. “You don’t get to keep anything because of what you did yesterday. It’s just a reminder of how hard you have to fight every day to create products that consumers want and nourish but to stay relevant.”