WBD head David Zaslav briefly addresses merger, DC Studios in Q2 earnings
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Source: Warner Bros. Discovery David Zaslav Warner Bros Discovery (WBD) CEO David Zaslav told analysts he expected the Paramount merger to close and said DC Studios “feels very good” despite the Supergirl misfire in a Q2 earnings call. “We’re confident this transaction will close,” Zaslav said on Thursday morning. “We’ve been trying to drive the value of the company to deliver to PSky [Paramount] and David [ Ellison ] the best company possible. The company is performing at a very high level [.]” Zaslav praised WBD’s 40,000-strong global workforce during the call with analysts. “The overall culture and the work ethic at this company has been inspiring,” he said, adding. “It has been challenging.” Early on Thursday, the UK antitrust watchdog cleared the merger. A number of WBD and Paramount staffers privately want the merger to fail, fearing the inevitable job losses that will come to duplicative roles. Zaslav stands to receive a golden parachute of more than $550m should Paramount either settle or win its antitrust trial against 12 US attorneys general and Writers Guild of America next spring. He can also walk away from the transaction if it has stalled by June 4 2027 and WBD would collect a $7bn termination fee. DC Studios Zaslav also said that he was not looking to tinker with the DC Studios strategy after June release Supergirl flopped on $126m at the worldwide box office...
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Overall revenues fell 11% to $8.7bn primarily due to the end of WBD’s decades-long broadcast arrangement with the NBA.
