Direct from Pebble Beach: AT&T CEO John Stankey & Discovery CEO David Zaslav

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 4 February 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

AT&T is spinning off WarnerMedia in a $43 billion merger with Discovery. AT&T CEO John Stankey and Discovery CEO David Zaslav discuss the deal, the rollout of 5G, and the separate futures of telecom and streaming from the AT&T Pebble Beach Pro-Am golf tournament. Plus, the executives respond to the surprise departure of CNN President Jeff Zucker. In this episode: John Stankey, @ATT David Zaslav, @Discovery Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:05.0	This is Squawk Pod.
0:06.2	I'm C. N.C. producer Cameron Costa.
0:08.6	Today on our podcast, The Mega Media Deal of the Week. AT&T spinning off Warner Media. mega media
0:15.0	to work.
0:18.0	a media to merge with Discovery, a $43 billion dollar deal.
0:19.0	We're unpacking the content, the leadership, and the 5G involved with AT&T CEO John Stanky.
0:26.6	We started this transaction because we wanted to drive shareholder value and we felt that getting
0:31.6	the equity structured in the way we did would have the best
0:34.4	chance of making that happen. The deal, the surprise departure of CNN's Jeff Zucker
0:39.4	and what's next for the streamers with Discovery CEO David Zaslap.
0:44.4	This is a fantastic collection of assets.
0:47.0	I've been at Discovery for 16 years and we've gone from a cable business,
0:50.5	a US cable business, to the leader internationally.
0:53.0	Oh, and did we mention this is all bi-coastal?
0:57.0	Feeling so alive.
0:58.0	It's 330, right?
1:00.0	It's dark and early. Joe and Becky at the AT&T Proam in Pebble Beach, Andrew holding down the fort here at home.
1:06.0	It's Friday, February 4, 2022.
1:10.0	Squawk Pot begins right after this.
1:16.0	This is Squack-Pod with Joe Kernan, Becky Quick, and Andrew Ross Sorkin,
1:23.2	reunited, sort of.
	...

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