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Squawk Pod

Warner Bros. Discovery CEO David Zaslav 5/18/22

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2543 Ratings

🗓️ 18 May 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

In his first interview since the $43 billion dollar media merger, Warner Brothers Discovery CEO David Zaslav shares the company’s plan to combine HBO Max and Discovery into one streaming platform. Zaslav also discusses what prompted the company’s decision to shutter CNN+ shortly after its launch. Redpoint Ventures founding partner Geoff Yang, who invested early in Netflix, DraftKings, Twilio, and Snowflake, breaks down tech valuations as stocks in the sector come under pressure. Plus, Lowe’s missed Wall Street’s sales expectations for its first quarter, as cooler spring weather hurt demand for supplies for outdoor do-it-yourself projects. In this episode: David Zaslav, @wbd Geoff Yang, @geoff_yang Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Becky Quick, @BeckyQuick Cameron Costa, @CameronCostaNY

Transcript

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0:00.0

Bring in show music please.

0:03.0

Hi there, I'm C.N.C. producer Cameron Costa.

0:07.0

Today on Squack-Pod, Warner Brothers Discovery CEO David Zazlav, his first interview since the

0:15.2

43 billion dollar merger closed last month. I feel like strategically we're

0:20.9

quite complete. We're going to be head down, let's drive this business,

0:24.6

let's get a single product into the market.

0:27.6

Where's our streaming content and what happened to CNN Plus?

0:31.9

If we saw good numbers and we thought

0:33.9

that there was a real market for an independent news

0:36.2

service for $6, we would have driven that

0:38.7

as a real business.

0:40.3

And tech markets private and public rattled by a volatile year so far.

0:45.4

Netflix Stripe, Snowflake investor Jeff Yang.

0:48.8

Is this 1999?

0:50.0

I hope it's not.

0:51.0

I don't think so because technology has become such a core part of all these

0:54.6

businesses you know all the transformations and and they're midway through especially for

0:59.3

company those big conversations plus Elon Musk's emoji game and home improvement projects

1:05.9

may be slowing down but for our own team it's a different story.

1:10.3

I ramped up the home improvement stuff big time.

1:12.6

You changed a few light bulbs.

1:13.8

There's not a light bulb that doesn't work in the entire house.

...

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