David Zaslav: Hollywood reformer or wrecking ball? [Los Angeles Times (CA)]
Warner Bros. Discovery, Inc. - Series A (WBD)
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Source: Los Angeles Times
Two years later, Zaslav embarked on a grander renovation. His cable programming company Discovery took control of the legendary Warner Bros. film and TV studio in Burbank, plus HBO, CNN, TBS and TNT. Zaslav had run Discovery for 16 years, but now he was finally in the major leagues. He proudly plunged into the self-styled role of Warner Bros. Discovery's Superman, brimming with ambition to bring back the luster to the century-old studio — and to Hollywood itself. But he's been dodging kryptonite ever since. Just as the April 2022 merger closed, the streaming bubble burst. The $43-billion buyout of previous owner AT&T created a mountain of debt, prompting Zaslav and his team to lay off thousands of employees and scour for cuts. More than $1 billion in programming was canceled, including the nearly completed $90-million “Batgirl” movie, axed for a tax deduction. Then last year's historic labor strikes brought film and TV production to a virtual halt, further disrupting Warner Bro
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