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08.08.2022 16:12:27

This Streaming Stock Could Soon Change Beyond Recognition

Since WarnerMedia and Discovery merged earlier this year to become Warner Bros. Discovery (NASDAQ: WBD), the entertainment company has actively been trimming expenses as part of a plan to save at least $3 billion per year. Under President and CEO David Zaslav, Warner Bros. Discovery shuttered streaming service CNN+ mere weeks after it launched and subsequently ended production on multiple HBO Max Originals in Europe. Most recently, Zaslav axed HBO Max movies Scoob!, Holiday Haunt, and Batgirl, with the executive suggesting such projects do not significantly incentivize customers to sign up for the service.Zaslav has a history of running a tight ship. Before heading up Warner Bros. Discovery, he spent a decade and a half at the helm of Discovery -- a company that was perhaps best known for its slate of unscripted programming, including Man vs. Wild and Deadliest Catch. By their very nature, such shows are cheaper to produce than HBO Max scripted content, like Westworld and Succession. With Zaslav determined to save at least $3 billion a year at Warner Bros. Discovery, there are signs HBO Max's output will start to look more like the former than the latter.Image source: Getty Images.Continue reading
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