Discovery chief Zaslav makes his mark, naming new Warner Bros. Discovery leadership
Discovery (DISCA
-4.7%) has announced its leadership team for Warner Bros. Discovery (WBDWV) ahead of the imminent close of the $43 billion media merger with WarnerMedia (T
-1.4%), confirming that much of the legacy leadership is changing out.
The announcements come from Discovery CEO (and upcoming WBD CEO) David Zaslav, who notes "Todayâs announcement combines a strong team of professional managers in a simpler organizational structure, with fewer layers, more accountability and a singular strategic focus as a global pure-play content company."
Zaslav, notably not a fan of heavily layered management, has listed several executives who report directly to him.
Discovery's Bruce Campbell takes on a new role as WBD's chief revenue and strategy officer, with oversight of a wide portfolio including U.S. advertising sales, distribution revenue and content licensing, global corporate development and strategy, global streaming platform agreements, and legal affairs.
As previously reported, JB Perrette (formerly CEO of Discovery Streaming and International) will take charge of the new company's streaming, as CEO/President of Global Streaming and Interactive Entertainment. David Haddad, president of Warner Bros. Games, will report to Perrette.
Gunnar Wiedenfels will continue as chief financial officer. And Adria Alpert Romm will keep a role as chief people and culture officer.
Kathleen Finch takes over as chairman/chief content officer, U.S. Networks Group, rolling up the company's more than 40 American networks. Chris Licht was recently named to take over CNN Global after the departure of Jeff Zucker.
There are some key retentions from WarnerMedia. Casey Bloys, key to HBO programming, will continue to be chief content officer of HBO and HBO Max. Channing Dungey will stay as chairman of the Warner Bros. Television Group. Toby Emmerich will remain chairman of Warner Bros. Pictures Group. And Gerhard Zeiler stays on to serve as president, International (taking on a big new global portfolio from Discovery).
Notably, one important vacancy the company is looking to fill is CEO for Warner Bros. Discovery Sports, a key post that will report to Zaslav.
AT&T and Discovery are on the record as expecting the deal to be completed by mid-April, but buzz that had centered on a Monday close is now amping up for wrapping it before Friday's close of business.
On Tuesday, telecom analyst Craig Moffett adopted a Neutral stance in valuing what will be left behind at AT&T after its media exit.