Stay up to date with the latest Podcasts and Videos from Southeastern Asset Management

The P/V Podcast

Warner Bros Discovery: David Zaslav on the Past, Present and Future of Entertainment

Episode 21 / October 2022

Southeastern’s CEO and Head of Research, Ross Glotzbach, interviews David Zaslav, President and CEO of Warner Bros. Discovery

Following introductions, David shares with Ross lessons he’s learned over the course of his career from famed business leaders Jack Welch and John Malone.  Next, David recalls what Discovery was like when he arrived in 2006 and the parallels to Warner Bros. Discovery today. At Ross’ request, David shares insights into his views and predictions about the media landscape from 2010 and assesses how those views have come to pass. David then opines on how the Warner Bros. deal came together and the turbulence along the way while getting various streaming services on a unified platform. Ross and David discuss what makes certain studios such as Disney, Warner Bros. or HBO unique, and how a studio can produce quality, award-winning entertainment while still making a profit. David provides his views on what Ross calls “the non-fiction” set of brands that Warner Bros. owns, such as HGTV, Food Network and CNN, which have become stronger assets in recent years. Next, Ross asks David to talk about John Malone’s approach to performance-based compensation for executives.  Ross and David go on to compare notes on members of the Warner Bros. Discovery’s Board of Directors and their experience. They then discuss Discovery’s history of promoting sustainability and corporate social responsibility in its programming. Finally, Ross asks David to share an anecdote about the last time he spent a special moment with his family.



Holdings are subject to change. Current and future holdings are subject to risk. As of September 30, 2022, Warner Bros. Discovery represented 4.9% of the Longleaf Partners Fund and 4.5% of the Longleaf Partners Global Fund. Statements regarding securities are not recommendations to buy or sell the securities discussed, but rather illustrations of Southeastern Asset Management review of each security.