"Warner Bros. Discovery CEO David Zaslav presented an upbeat take on the company's new mega-merger with Netflix during a Friday all-hands with employees. "This is a big day for Warner Bros.," Zaslav said at a company global town hall, a recording of which was obtained by Business Insider. Netflix plans to buy the Warner Bros. studio and streaming assets in an industry-shaking $72 billion deal, the companies announced on Friday."
"WBD's TV networks like CNN and TNT will be part of a spinoff in mid-2026, as the media conglomerate had originally planned. WBD's town hall on Friday afternoon at 1:30 pm ET seemed designed to answer employees' questions and assuage any fears about the Netflix deal. Zaslav also sent a memo to staffers, several of whom told BI they were worried about their job security as the company undergoes another major deal. That's especially true because Netflix has its own top-tier tech that could render some of WBD's obsolete."
Netflix announced plans to buy Warner Bros. studio and streaming assets for $72 billion, while WBD's TV networks like CNN and TNT will be spun off in mid-2026. WBD leadership held a global town hall and sent memos to address employee concerns about job security amid the transaction and overlapping technology. CEO David Zaslav described Netflix as an exceptional company with a sustainable future and said the intention is for Netflix to retain most people. WBD CFO Gunnar Wiedenfels acknowledged the emotional impact and expressed excitement about the future of the spun-off business.
Read at Business Insider
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