David Zaslav: Last News

It was announced today at the Warner Bros Discovery streamer presser that this spring’s DC feature, Shazam: Fury of the Gods, would be hitting the newly revamped Max service on its relaunch date, May 23.

BreAnna Bell The horror of “The Conjuring” is getting the TV treatment. HBO Max is developing a TV series based on New Line Cinema’s “The Conjuring” universe. The news was announced on Wednesday exclusively during Warner Bros. Discovery’s unveiling of the Max streaming service on the Warner Bros. lot in Los Angeles. According to Warner Bros., “The Conjuring” television series will continue the story established in the feature films. Producer Peter Safran is attached to executive produce the series via his Safran Company banner. James Wan, who also produced and directed several films within the franchise, is in talks to also executive produce. Wan’s Atomic Monster Productions is backing the project alongside Warner Bros. Television.

Todd Spangler NY Digital Editor It’s not HBO Max — soon it’s just going to be Max. Warner Bros. Discovery officially announced Max as the new name of its flagship streamer, lopping off the HBO part of the name as it mixes in a big bucket of new content from Discovery+ and other new original series. The company announced the name change at a press event Wednesday. The rebuilt Max (on the web at max.com) is set to launch first in the U.S. on May 23, featuring what the company promises will be an average of more than 40 new titles and TV show seasons every month. “Max is the one to watch,” WBD CEO David Zaslav said on stage at the event, with thousands of shows and movies on the service.

Jennifer Maas TV Business Writer Warner Bros. Discovery finally revealed the plans (and confirmed the long-rumored name) for its new streaming service, Max, which will combine offerings from HBO Max and Discovery+ into one product, during a splashy press presentation on the Warner Bros. Studio lot Wednesday. The event kicked off at 10 a.m. at the iconic Burbank location, presided over by WBD CEO David Zaslav, president and CEO of global streaming and games JB Perrette, HBO and HBO Max CEO and chairman Casey Bloys (who now also has oversight of Chip and Joanna Gaines’ Magnolia Network), and U.S. networks group chairman and chief content officer Kathleen Finch. Variety is on the scene, ready to fill you in on all the details about the new streamer, Warner Bros. Discovery’s direct-to-consumer strategy, the future of HBO and the standalone version of Discovery+.

Cynthia Littleton Business Editor David Zaslav went office-furniture shopping when he moved into the executive building on the Warner Bros. lot last year. The new CEO of Warner Bros. Discovery had Jack L. Warner’s large dark-wood desk pulled out of storage for his use. He also found a leather legal pad holder once clutched by another of his predecessors at the storied studio: Steven J. Ross. Zaslav wanted these totems in his sunken workspace overlooking Olive Avenue in Burbank to show the formidable legacy, in business and in popular culture, he has inherited. “I wanted them to remind me that we need to show as much courage now in leading this business as the Warner brothers did in launching it one hundred years ago,” Zaslav says. As the studio marks the centen- nial of its incorporation as Warner Bros. Pictures Inc. (the official date is April 4, 1923), the company has never been more focused on using the wealth of intellectual property assets, the production expertise and the global distribution muscle built up over the past 100 years to power its second century. The vast Warner Bros. movie and TV library is the foundation of WB Discovery’s empire-building ambition to transition from traditional cable to direct-to-consumer streaming.

The long-rumored Harry Potter TV series for HBO Max is on track to clear the biggest hurdle in its path to the screen, a deal with the books’ author JK Rowling who has creative control over any adaptation of her work.

Harry Potter is back!

David Zaslav’s compensation for 2022 totaled nearly $39.3 million, hefty but well down from the previous year when the figure was swelled to $246 million by a large option grant.

Jennifer Maas TV Business Writer Warner Bros. Discovery chief David Zaslav’s pay package topped $39 million in 2022, down considerably from the staggering figure he hit in the year prior, thanks to a massive $203 million stock option. In a Wednesday Securities and Exchange Commission filing, WBD stated that president and CEO Zaslav’s exec comp package totaled $39.3 million last year. $3.1 million of that sum was his salary, with the rest being stock awards ($12 million), stock option awards ($1.4 million), non-equity incentive plan comp ($21.8 million) and “all other” compensation ($925,489). While Zaslav’s pay is down considerably from 2021, it’s important to note the reason behind this major dip is an unprecedented $203 million stock option grant that inflated his total 2021 compensation package to a staggering $246.6 million. (To give you a more reasonable idea of what Zaslav’s pay has been in recent years, his 2020 haul was a mere $37.7 million.)

EXCLUSIVE: After months of upheaval following the close last April of WarnerMedia and Discovery’s $43 billion merger, Michael Ouweleen sees a much more settled operating environment taking shape in 2023.

Tom Cruise is reportedly one of the first people on the planet to see DC’s upcoming movie The Flash.

Jennifer Maas TV Business Writer Warner Bros. Discovery received stock upgrades from two media analyst firms Friday for, among other things, making the decision to tie bonuses for CEO David Zaslav and his team to free cash flow performance. “We threw everything and the kitchen sink at a Downside Case scenario for WBD, and it still delevers to 3x by ’25E,” Wells Fargo analysts wrote in a research note published Friday, in which they upgraded WBD’s stock to “overweight” with a price target increase from $13 to $20 per share. “We now have conviction in FCF to limit downside, while the stock has asymmetric upside.” Meanwhile, Wolfe Research moved WBD from its “peer perform” rating to “outperform” and also upped the price target to $20. (At time of publication Friday, WBD stock was trading at $14.51 per share.)

In what should come as no surprise, James Gunn will be directing his own script for Superman: Legacy, a major lynchpin project which will off the the multi-platform connected DC universe – “Chapter One, Gods and Monsters” ­– which he and his DC’ Co-Chairmen & CEO Peter Safran are launching.

When Warner Bros. Discovery CEO David Zaslav installed the new leadership of James Gunn and Peter Safran at DC, heavy decisions were promptly made from the unplugging of Patty Jenkins’ Wonder Woman 3 to Henry Cavill losing his Superman cape.

A24, the scrappy indie studio that has built a brand for itself as a home for hip and cutting-edge movies, triumphed over its deeper-pocketed rivals at the Oscars on Sunday. It scored a leading nine wins, topping that of its closest competitor, Netflix, which had to settle for six trophies. Plus, A24 not only captured best picture for “Everything Everywhere All at Once” but also pulled off the incredibly rare feat of winning every major acting category, with three statuettes coming for the cast of the head-spinning adventure film and the other one recognizing Brendan Fraser’s work in “The Whale.” But don’t expect the studio to do a victory lap. Co-founders David Fenkel and Daniel Katz (who named their shop after the highway that connects Rome to Teramo) shun the spotlight and have done almost no interviews or profiles, though they have certainly been asked. Rather, the indie moguls say they prefer to let their films speak for themselves — an anomaly in Hollywood, where executives usually push one another aside to claim credit for successes.

Ramin Setoodeh Co-Editor-in-Chief At 11:30 p.m., Daniel Kwan was ready for a late dinner. The movie that he co-directed — “Everything Everywhere All At Once” — had swept the 95th annual Academy Awards, winning a historic seven statues, including best picture and best director. But he hadn’t had a bite to eat in hours. So at Vanity Fair’s annual Oscars party, he grabbed an In-N-Out burger from a tray to refuel. But before he could dig in, he was greeted by one of his many fans — named Steven Spielberg. The man who saw his cinematic memoir, “The Fabelmans,” get crushed by the Daniels (as Kwan and his collaborator Daniel Scheinert are called) didn’t seem the least bit upset.

“I have no breaking story about a Veep comeback,” Matt Walsh told us at Deadline’s SXSW studio, “I wish I did because it would blow up the internet.”

13D and 13G reports. For those outside of the inside-baseball world of corporate finance: Forty-five days out from the end of the year, companies are required to have filed 13D and 13G disclosure forms with the Securities and Exchange Commission. These reports are required for investors who amass 5% or more of a company’s total stock issue. Starting with this primer on how to monitor big-dollar investment bets, Variety will offer a quarterly survey of how the media and entertainment sector is faring among the world’s most sophisticated stock pickers.

Elon Musk prodded advertisers “to use Twitter yourselves, and believe what you see on Twitter, not what you read in the newspapers.”

Todd Spangler NY Digital Editor Elon Musk, who acquired Twitter in a $44 billion, debt-laden deal a little over four months ago, said advertising revenue has dropped as much as 50% since he took over. But the mega-billionaire tech mogul said a few large advertisers have continued to spend with Twitter, and he specifically called out — and thanked — Disney and Apple as remaining two of the biggest marketers on the social network, speaking Tuesday at the 2023 Morgan Stanley Technology, Media and Telecom Conference in San Francisco. According to Musk, Twitter is improving its ability to serve timely and relevant ads. He said he was speaking with David Zaslav, CEO of Warner Bros. Discovery, who asked Musk why Twitter couldn’t put an ad with the trailer for HBO hit show “The White Lotus” next to every tweet that mentions “White Lotus.” Musk responded affirmatively, describing it as basic keyword-based ad buys that Twitter is now selling: “It’s just Google AdWords but applied to tweets.”

Warner Bros. Discovery has tweaked its CEO’s employment contract, granting a bigger pot of restricted stock units but linking them to free cash flow targets.