David Jaslow on joining Discovery WarnerMedia: We want to become an information leader in the world

WarnerMedia and Discovery are creating a new media concern, Which should be a global leader in entertainment and information, and a leader in the streaming platform market. WarnerMedia includes HBO, CNN, Cartoon Network, Warner Bros. And the HBO Max operating system. The invention includes the Discovery Channel, Discovery + Platform, HGTV, Eurosport, Animal Planet and TVN.

– Our cargo includes the best CNN and CNN international stations. They have a strong leadership position, and they are number one in the United States here. As around the world. We connect with CNN, Discovery’s news initiatives, TVN in Poland and other news channels around the world – said David Jaslov, current chairman of Discovery and future leader of Integrated Concern.

He added: – We have created companies with their own value. People direct them in the morning to see what is important, what is happening and what has happened in politics. Now it is even more important because the world is full of different content that can be accessed in different ways. This deal only makes sense if it is the best.

– Our purpose is news, sports, entertainment, documentation. This is a task in Europe. Now we return to the message. We have a new mission: we want to integrate everything we have in Europe with CNN and become a global information leader, emphasized David Jaslov.

Created from a merger of Discovery and Warnermedia, the company produces and displays high-budget films, animation, games and non-fiction shows among others. Thanks to the link, he will be able to invest more in his own products. It will also focus on information using the strong news brands of the merging companies. Thanks to having CNN and European stations and Discovery information programs in one company, the company will become a global information leader.

The integrated companies are set to compete with giants like Netflix and Disney. According to the Financial Times, the value of the new concern is estimated at $ 150 billion.

AT&T, the owner of WarnerMedia, has a 71 percent stake in the company. Shares in the new company, and Discovery shareholders – 29 percent. David Jaslow, currently the CEO of Discovery, is the new chairman of the company. The transaction must be approved by the relevant regulators, which is expected to take one year.

Following the merger, the company is expected to reach $ 52 billion in revenue by 2023 and the operating EPIDTA about $ 14 billion. The new company is expected to deliver at least $ 3 billion in expected cost synergies annually. The new concern is that it does not plan to sell any of its assets, including TVN.

In 2012-2015 the invention took 100 percent. Eurosport shares, and at the beginning of 2018, the then-owner of the TVN group, Scripps Networks Interactive, bought for $ 14.6 billion, for $ 8.4 billion in cash, and the rest – in its shares.

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