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Yahoo
7 days ago
- Entertainment
- Yahoo
David Zaslav Is the Good Guy? Why He Might Have Saved Turner Classic Movies
We've made no secret of our quibbles with David Zaslav's oversight of Turner Classic Movies. In June 2023, I wrote a critical op-ed ('Dear David Zaslav: Gutting TCM Will Not Help You Win Filmmakers Back to Warner Bros.') right after the Warner Bros. Discovery CEO presided over layoffs amounting to 80 percent of the staff. So it might come as some surprise that I'm now feeling bullish about the news that Zaslav and Warner Bros. co-heads Mike DeLuca and Pam Abdy will retain creative control over TCM as Warner Bros. Discovery prepares to split into two companies. (This arrangement was first reported by Variety and confirmed by IndieWire.) One will be the Studios and Streaming group, a business that oversees film and TV production, with Zaslav retained as CEO. The other is the Global Networks group, home to the present company's entire suite of linear TV channels, with new CEO Gunnar Wiedenfels, currently WBD's CFO, in charge. This group carries most of WBD's $38 billion in debt. CNN, TNT, and the entire portfolio of networks owned by WBD will go here. More from IndieWire Mark Frost: It's 'Hard to Imagine' Making a Fourth Season of 'Twin Peaks' Without David Lynch The Opening Title Sequence That Makes 'Smoke' Burn with Mystery Except for Turner Classic Movies. TCM will serve as a kind of bridge between the two new companies, with distribution and operations handled by Global Networks, while creative direction will be steered by DeLuca and Abdy at Studios and Streaming, as they are doing now. It's the only network to have such an arrangement. Not only does that make sense, it's good news. If Zaslav spun off TCM along with all the other channels, it could destroy the equilibrium the network achieved over the past couple years. Further, a source at WBD confirms to IndieWire that TCM will continue to have its operations based in Atlanta and that 'things at TCM are basically staying exactly as they are today.' The TCM layoffs were regrettable but not unusual: Many media companies are finding them necessary to survive. And Zaslav appears to be not only invested in the brand's future but may be willing to correct some mistakes. Longtime head of programming Charlie Tabesh, beloved by the network's fans for his thoughtful and eclectic lineups at the core of the brand's identity, was hired back in that role almost immediately in the summer of 2023. Some months later, longtime VP of enterprises and strategic partnerships Genevieve McGillicuddy returned to oversee the TCM Classic Film Festival, an event which she started and grew into one of Hollywood's most beloved annual gatherings. Zaslav listened, probably with help from DeLuca and Abdy. And almost certainly because Steven Spielberg, Martin Scorsese, and Paul Thomas Anderson beseeched him to recognize the network's value and offered to come onboard as creative advisors. Today, TCM is an essential platform for today's leading filmmakers to share, on camera, their favorite films from the network's lineup. Beyond Spielberg, Scorsese, and Anderson, there was Guillermo del Toro (who waxed rhapsodic about Alfred Hitchcock's 'Suspicion' and John Ford's 'The Quiet Man'), Francis Ford Coppola (talking about 'The Magnificent Ambersons'), and Ron Howard (sharing how much his small-screen father Andy Griffith's heel turn in 'A Face in the Crowd' means to him). These have been vital ways to connect the dots between cinema past and present. Most TCM initiatives continue under Zaslav's leadership: The wine program, the publishing line (of which this writer was once an author), the cheeky intros by hosts Ben Mankiewicz, Alicia Malone, Dave Karger, Jacqueline Stewart, and noir czar Eddie Muller. The bespoke montages, assembled to promote the monthly lineup, continue with flair. Now there's also an expanded presence for TCM on the once-again-renamed HBO Max. Earlier this year, New York City hosted a day-long pop-up version of the TCM Classic Film Festival. The flagship festival continues unabated with extraordinary opening-night galas the past two years headlined by talent from 'Pulp Fiction' and 'The Empire Strikes Back' — showcasing that the idea of classic film encompasses more than black-and-white gems. There have been hiccups. Being short-staffed undoubtedly resulted in a few instances of the network airing different titles than were listed, most notably the 1932 Kay Francis vehicle 'Jewel Robbery' when the Barbara Stanwyck Western '40 Guns' was supposed to air instead. Still, that's nitpicking. Just two weekends ago, I found myself so compelled by their lineup that I watched an entire evening of TCM: 'Double Indemnity' and 'Chinatown' introduced by Mankiewicz in conversation with Nathan Lane at New York City's United Palace theater, followed by 'Sorry, Wrong Number' and Eddie Muller giving a rich, appreciative take that pinpointed that film's unique Lynchian mood. Zaslav's interest in TCM may not be entirely altruistic: After the day-and-date release strategy disaster of the Jason Kilar regime, the new Warner Bros. Discovery needed to telegraph that its leadership was invested in filmmaking and filmmakers. Bringing in filmmakers to be part of TCM was a savvy move. TCM is also great brand-burnishing, with the network built heavily off of the Warner Bros. library and classics like 'The Maltese Falcon' and 'Casablanca.' TCM is a shrine to Warner Bros.' glorious past and an ongoing snapshot of the rich history that Warners filmmakers could join today. The funny thing is, by all accounts, Zaslav is also genuinely sentimental about the network and said to even have it on at his office quite often. Best of IndieWire Guillermo del Toro's Favorite Movies: 56 Films the Director Wants You to See 'Song of the South': 14 Things to Know About Disney's Most Controversial Movie Nicolas Winding Refn's Favorite Films: 37 Movies the Director Wants You to See Solve the daily Crossword
Mint
23-06-2025
- Business
- Mint
Warner Bros Discovery restructuring may back India OTT plans—but faces challenges
Warner Bros Discovery's decision to split its streaming and studio business from its traditional TV networks may give a fresh push to its digital plans in India—but growing in the country's crowded and price-sensitive OTT market won't be easy. Under the restructuring, Global Networks will house entertainment, sports and news television brands such as CNN and Discovery, along with digital products including the discovery+ streaming platform. The newly formed Streaming & Studios entity will comprise Warner Bros. Motion Picture Group and DC Studios, which will continue releasing their films theatrically in India. David Zaslav, president and CEO of Warner Bros Discovery, said in a global release, 'By operating as two distinct and optimised companies, we are empowering these brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape." Also read: Why Warner boss Zaslav is having to split up the media empire he built 'This separation will invigorate each company by enabling them to leverage their strengths and specific financial profiles. This will also allow each company to pursue important investment opportunities and drive shareholder value," added CFO Gunnar Wiedenfels. India playbook challenges The separation could allow Warner Bros Discovery to invest more aggressively in OTT in India, especially in subscription-based models. However, the challenges are plenty. Currently, the company only runs the discovery+ streaming service in India, while syndicating most of its intellectual property (IP) to JioHotstar. Experts believe that the platform, now free from having to serve traditional TV audiences, could lean into bold, edgy content aimed at younger demographics. 'The digital business isn't big in India, and it will have to show revenue now," said Girish Dwibhashyam, streaming industry expert and former vice-president and chief operating officer of DocuBay, a documentary streaming service. 'The split could rejuvenate their investments in OTT but it would also bring down their negotiating power with Internet Service Providers (ISPs) and aggregators for distribution partnerships since it would no longer come under the same umbrella as broadcast," he added. While Warner Bros Discovery has dabbled in infotainment, science, and mythology in India, Dwibhashyam sees room for more daring content experiments. Given that they no longer have the baggage of producing the same programming for both TV and OTT, the company could explore edgier themes, he said. Also read: Online games and self-publishing platforms: movie producers tap new avenues for fresh plotlines Vinay V. Singh, managing director (USA), Primus Partners, added that the company could now double down on high-quality originals and global formats. 'These are key to capturing Indian millennials and Gen Z in a fiercely competitive OTT landscape," he said. Singh also said HBO-branded content, currently available via video-on-demand through partnerships like JioHotstar, may gain more muscle with renewed global backing. Despite the digital optimism, linear television remains dominant in India, especially in smaller towns and non-English-speaking markets. However, if other global media giants follow Warner Bros Discovery's decoupling strategy, standalone TV units may need to raise ad or subscription rates to remain viable. This could further drive viewers toward cheaper OTT platforms, including those that rely on advertising-based video-on-demand (AVoD). Industry experts anticipate that the decoupling trend could push streaming companies to innovate their pricing models. Expect bundles that include local originals, micropayments, ad insertions, and dynamic pricing to boost reach while protecting average revenue per user (ARPU). Subscription blues Yet, streaming monetization remains a hurdle in India. According to a report by Ormax Media, India's video streaming audience stood at 547.3 million, but active paid subscriptions stagnated at 99.6 million. Notably, the SVoD (subscription video-on-demand) audience declined by 2% in 2024, even as the AVoD base grew by 21%. 'Foreign companies haven't really seen India as a hot market. Plus, there isn't real value in SVoD yet," said Sunil Lulla, founder, The Linus Adventures. Warner Bros Discovery has also refrained from fully adopting the ad-supported model in India. Last year, Sai Abishek, head of factual and lifestyle cluster, South Asia, had said the platform would continue to focus primarily on a subscription-driven model. What's next While Warner Bros Discovery declined to comment on Mint's queries for this story, industry watchers say the company's strategic split could be a reset moment for its India plans. However, competing in a saturated market—dominated by players like Netflix, Amazon Prime Video, ZEE5, and SonyLIV—will demand more than just capital. It will require smart partnerships, platform innovation, and the courage to bet big on differentiated content. Also read: Few winners, many misses in Bollywood's lopsided H1 recovery story
Daily Mail
18-06-2025
- Business
- Daily Mail
Misery at CNN HQ as debt-plagued network prepares for sale and Anderson Cooper hires new agent
A dark cloud hangs over CNN headquarters as staffers brace for layoffs and a likely sale of the network amid another reshuffling by its parents company. 'I'd say the mood remains really grim,' a CNN employee told Fox News, in the wake of last week's restructuring announcement from Warner Bros. Discovery. 'People are uncertain.' Meanwhile, CNN mainstay Anderson Cooper just signed with a new talent agency for the first time in decades - a move Variety reported was is a surefire sign he is open to new opportunities. The staffer who spoke to FOX News revealed workers were already aware of WBD's plans to split into two separate companies before last week, with one centered around studios and streaming. The other, tentatively titled Global Networks, will revolve around linear TV assets like CNN. 'We knew this was happening. And it was required to be able to sell the company,' the staffer said of the split. 'People are hoping CNN will be sold,' the source continued, saying Global Networks' new chief executive, WBD CFO Gunnar Wiedenfels, warned 'there is no limit, any sale can be made at any time - to a buyer who will invest in it. That's the bottom line.' The staffer added: 'I think they've telegraphed clearly that more cuts are coming. ' The insider noted that Wiedenfels' 'remit is not to grow stuff.' 'This company is a cash-flow giant with shrinking revenue. Like that's the deal,' the source said. 'It's merely a matter of how fast it shrinks. That's why the assets were split.' Wiedenfels has already managed to reduce WBD's $55billion debt by $21 billion in less than two years. His appointment by WBC CEO David Zaslav comes after several rounds of layoffs at his behest. Less than five months ago, CNN laid off 200 staffers - all from its struggling TV division. WBD has engaged in repeated rounds as well. A staffer told the Daily Mail at the time of the most recent CNN firings that the network had become 'bloated' after Warner Bros.' merger with Discovery in 2021. The cost-cutting seen since has done little to help the conglomerate's share price, which is down some 7 percent year to date. 'And we don't have streaming yet so - it's hard to imagine it doesn't get worse,' the CNN source further told Fox, referring to an anticipated portion of CNN CEO Mark Thompson's long-in-the works restructuring plan. 'If we do not follow the audiences to the new platforms with real conviction and scale, our future prospects will not be good,' Thompson told the New York Times in January. The new streaming service set to roll out this fall, he said, would feature the network's most well-known stars. This week, reports emerged that CNN superstar Cooper is now being represented by Creative Artists Agency (CAA) after years with United Talent Agency (UTA). He will be represented by Hollywood super-agent and CAA CEO Bryan Lourd. Cooper, 58, has been with CNN since 2001 and collects an annual salary of $18million, Puck reported this week, adding that such salaries would soon be a thing of the past. The report pointed out how Wiedenfels seems poised to commence cost-cutting, after working as Discovery's and then WBD's CFO since 2017. Much of the frustration from staff has been aimed at Zaslav, a second CNN staffer told Fox News, after two years of sagging ratings, streamlining roles, and repeated promises to pivot to streaming. 'Zaslav killed this place. He killed it,' the source said. 'The last few years under Zas has been a disaster in terms of what he has done,' the person added. Prior to announcing the restructuring last week, Zaslav reportedly dismissed a split of WBD's assets - including cable stations like TNT and TBS - as a bad idea. Sources told Puck at the time that ideas to better monetize the network by Thompson were either out of date or are coming too late - forcing execs' hands. A third staffer who spoke to Fox also appeared to believe a collapse at CNN is imminent. 'I'm trying to figure out what I'll do next when the whole thing collapses, but I don't even know when that will be,' the source said.
Fox News
18-06-2025
- Business
- Fox News
CNN morale 'really grim' as network faces uncertain future with corporate split, staffers warn
CNN staffers are bracing for impact as the network faces yet another corporate restructuring by its parent company Warner Bros. Discovery (WBD), fueling an unsettling morale in the newsroom. "I'd say the mood remains really grim," one CNN staffer told Fox News Digital. "People are uncertain." Last week, WBD announced that it was splitting into two companies, separating the studios and streaming business from its cable networks, CNN among them. The latter company, tentatively dubbed Global Networks, will be led by WBD CFO Gunnar Wiedenfels. The split is expected to be completed next year. "We knew this was happening," the CNN staffer said. "And it was required to be able to sell the company. People are hoping CNN will be sold - and as Gunnar said, there is no limit, any sale can be made at any time - to a buyer who will invest in it. That's the bottom line." While Global Networks will retain a 20% stake in the studio and streaming business, CNN's new parent company will have a heavy burden taking on most of Warner Bros. Discovery's massive debt. And Wiedenfels is expected to tighten the purse strings. "I think they've telegraphed clearly that more cuts are coming. Gunnar 'efficiency,'" the CNN staffer said. "And we don't have streaming yet so - it's hard to imagine it doesn't get worse [CNN is set to launch a new streaming service this fall]." "His remit is not to grow stuff. This company is a cash-flow giant with shrinking revenue. Like that's the deal. It's merely a matter of how fast it shrinks. That's why the assets were split," they continued. CNN has repeatedly been orphaned by corporate parents for years, from Time Warner in the 90s, to AOL in the early 2000s, to AT&T in 2018, leading to its 2022 spinoff of Warner Bros. Discovery led by CEO David Zaslav. In 2023, Zaslav tapped Mark Thompson, a veteran executive of BBC and The New York Times, to become CNN's CEO. Thompson has been vocal about his efforts to transform the news organization in the digital era in the nearly two years he's been on the job. But newsroom ire, at least for now, is being aimed at the WBD chief. "Zaslav killed this place. He killed it," a second CNN staffer told Fox News Digital. "The amount of debt the new thing that CNN is part of isn't ideal, but at least it can be a new beginning. The last few years under Zas has been a disaster in terms of what he has done." Industry critics like Puck correspondent Dylan Byers have predicted doom and gloom for the future of CNN, suggesting it will meet the fate of HLN, which he has noted "no longer exists." However, a third CNN staffer says critics projecting CNN's demise are simply "reading the same tea leafs as everybody else" regarding systemic problems in cable. "I'm trying to figure out what I'll do next when the whole thing collapses, but I don't even know when that will be," the third CNN staffer told Fox News Digital. "If we go under, I'll get a new job. Maybe making more money, maybe making less money, who cares? At the end of the day, it's just a job, right?" Despite all the current woes, not all hope is lost within the CNN newsroom. "I think it is possible for CNN to be invested in and be a relevant, powerful brand," the first staffer said. "To me - and I'm biased - CNN is a brand like Nike. If we throw it away, that is a choice and a management-driven thing, not a macro fait accompli." A spokesperson for CNN declined to comment. Warner Bros. Discovery did not respond to a request for comment. CNN's corporate saga comes at a rough patch for the network, which suffered its second-worst month ever in viewership the advertiser-coveted demographic of adults ages 25-54 across both total day and primetime viewers in May and is on pace to have its lowest-rated year ever in the demo.
Daily Mail
17-06-2025
- Business
- Daily Mail
'Tears on the horizon' at CNN as insiders reveal stars on the chopping block after parent company's shock split
Warner Bros. Discovery's shock split into two distinctive companies is a sign the jobs and hefty salaries of CNN 's top talent are on the line, media insiders warn. The media giant announced last week it will halve into two publicly traded entities — Streaming & Studios and Global Networks — by mid-2026. Streaming & Studios' domain will be Warner Bros. Television, Warner Bros. Motion Picture Group, DC Studios, HBO, and HBO Max. Global Networks, on the other hand, will be news focused, assuming CNN, TNT Sports and Discovery, among other programming. CEO David Zaslav will take on the leading role of the Streaming & Studios company, while CFO Gunnar Wiedenfels will become the President of Global Networks. This dramatic move could be detrimental to CNN, which is already grappling with plummeting ratings. 'Inevitably, Gunnar will look at CNN and decide he can maintain relatively similar profits at a mere fraction of the cost,' Dylan Byers, a former CNN reporter who now works for Puck, wrote in an opinion piece. 'This will have perceptible ramifications on the talent side. Why, for instance, would Gunnar pay Anderson Cooper $18 million a year when Kaitlan Collins draws the same ratings at roughly a fifth of the salary?' An anonymous source familiar with the state of the left-leaning news network spoke with Fox News, reiterating there are 'tears on the horizon.' They believe 'bean counter' Wiedenfels will go after high-salaried stars, going against the precedent set by former CNN boss Jeff Zucker, who was forced out before the 2022 merger. 'It's not just the overpriced talent. It's the overpriced producers. The overpriced executives. The superfluous reporters who barely are on the air,' the source said. 'All will either be exited or forced to take massive pay cuts.' Zucker was allegedly known for overpaying talent to keep them loyal to him, Fox reported. The result - CNN's first and second-tier talent now earn roughly five times what they are worth, the insider alleged. While Cooper earns an estimated $18 million every year, Jake Tapper, who hosts The Lead with Jake Tapper, brings in roughly $7 million a year. CNN veteran Wolf Blitzer's salary is about $15 million and Chris Wallace's is approximately $8 million. Collins earns about $3 million as a primetime anchor. In May, CNN had its second-worst month in its history in the essential 25 to 54-year-old age group in both daytime and primetime viewership, Fox reported. Since last year, the network ratings declined in all categories - and the matter may only get worse, experts believe. Over the upcoming year, Kagan, a research unit of S&P Global Market Intelligence, estimated CNN will lose subscribers and revenue despite the strategic split. Revenue is expected to plummet by $499.2 million, Variety reported. The insider source said the soon-to-be Global Networks CEO could slash CNN's costs by 50 to 60 percent with no impact on revenue or ratings. They believe Wiedenfels could 'start by making 70 percent cuts to all show teams for CNN US, bringing their staffing in line with that of their competition,' before slashing talent salaries. 'But it will be most devastating for the rank and file. With no union protections, there will be massive layoffs and those remaining will be asked to do the work of their departed colleagues,' they explained. Although no layoffs or budget cuts have been set in stone, uncertainty looms among CNN staffers. Byers told Fox he has 'received a deluge of text messages from addled employees at CNN' asking what the WBD split means for their futures. Despite skepticism, WBD higher-ups believe dividing into two companies is the best possible move. 'By operating as two distinct and optimized companies in the future, we are empowering these iconic brands with the sharper focus and strategic flexibility they need to compete most effectively in today's evolving media landscape,' Zaslav said. Wiedenfels agreed this is a strategic move that will strength the 'specific financial profiles' of each company. 'At Global Networks, we will focus on further identifying innovative ways to work with distribution partners to create value for both linear and streaming viewers globally while maximizing our network assets and driving free cash flow,' he asserted.
