Warner Bros. Discovery CEO David Zaslav raised the curtain on the combined Warner Bros. Discovery, kicking off the newly merged media giant’s upfront presentation Wednesday morning by declaring the company to be “the largest maker of motion picture and television content in the world.”
Kicking off the presentation at the Theater at Madison Square Garden, Zaslav admitted to the packed house that he was “a little nervous” to show off the company that closed its $43 billion transaction with AT&T just six weeks ago.
Zaslav detailed the combined company’s breadth of assets and its goal of being “a place for bold, impactful storytelling with the power to entertain, inform and when we’re at our best, inspire.”
He also took time to call out three legendary media figures that he called “personal heroes”: famed cable pioneer and investor John Malone, cable visionary and CNN founder Ted Turner and the late Warner Bros. leader Steve Ross, who rebuilt the ailing studio starting in the early 1970s into the conglomerate that became Time Warner.
“Steve Ross understood that we are in the storytelling and talent business,” Zaslav said.
Beyond the importance of the presentation to the new company, Zaslav pointed to the unprecedented upheaval and transformation across the industry. He invoked the legacy of a trailblazer from a generation ago.
“This really is a moment, not just for us as a company but for us as an industry,” Zaslav said. “More than 30 years ago, Rupert Murdoch broadened the media landscape from three players to four.”
Zaslav called out CNN among the company’s many brands, and he once again suggested that there will be some shift in focus for the pioneering global news network.
“There is no news organization in the world like CNN,” he said. “At a time when most news networks are advocacy networks., CNN intends to advocate for journalism first. To advocate for facts and for truth and to advocate for underserved news consumers and Americans who are seeking more accurate information and less yelling and conflict.”
Following Zaslav’s opening comments, Jennifer Hudson — star of Warner Bros.’ upcoming first-run syndicated daytime talk show “Jennifer Hudson” — was employed to tout the depth of the conglomerate, as well as introduce key Warner Bros. Discovery talent. That included Magnolia Network’s Chip and Joanna Gaines, who last year launched the dedicated Magnolia Network last year.
“Our love for home turned into a passion of helping people re-envision their spaces, taking something old or forgotten and making it new again,” Joanna Gaines said. “Our target for Magnolia Network has been the same day since day one: To give rise to new voices. passionate people who are doing inspiring things in their community, to tell their stories that make the world one beautiful place.”
Jon Steinlauf, Warner Bros. Discovery U.S. ad sales chief, was on hand to deliver some classic upfront facts and figures, including the news that 80% of HBO Max and Discovery streaming users watch on a TV set, and more than 50% of them are cord-cutters.
“We now have a seat at the primetime table and we’re making it possible for you to buy a big slice of prime,” Steinlauf said, talking up WBD’s expansive plans for packaging advertising across its cradle-to-grave array of brands.
More to come