John Malone: Last News

The abrupt yet not-all-too-surprising exit of Chris Licht from CNN is a bit of a relief for staffers who thought he was the wrong person for the job, but whoever succeeds him at the cable news network will face many of the same headwinds.

Jeers and chants of “pay your writers” from picketers and a number of audience members greeted Warner Bros Discovery chief David Zaslav on Sunday as he delivered Boston University’s commencement address.

Todd Spangler NY Digital Editor Paramount+ signed a promotional partnership for Formula 1’s 2023-24 season, making the streamer an official partner of Formula 1. The full-season partnership comes on the heels of a short-term deal between Paramount+ and Formula 1 in 2022, which saw the streamer gain exposure at key Formula 1 races including Silverstone in the U.K. and Monza in Italy. Under the sponsorship pact, Paramount+’s original series, movies and characters will take “center stage” inside Formula 1 Fan Zone areas “with the biggest stars coming together on and off the grid,” the companies said. Additionally, the partnership includes Paramount+ branding on track and physical trackside signage, digital sponsorships and promotional opportunities, which started in Melbourne, and will be followed by activity in Miami, Montréal, Austria, Silverstone, Monza, Suzuka, Austin, Mexico City, São Paulo and Las Vegas.

Warner Bros. Discovery CFO Gunnar Wiedenfels today predicted the company will hit $4 billion in total cost savings from the merger of Discovery and Warner Media – up from a previous commitment to hit $3.5 billion.

Liberty Media chairman John Malone slammed AT&T, praised Reed Hastings and affirmed his faith in the Warner Bros. Discovery team led by David Zaslav amid the drama and red ink of today’s streaming wars.

John Malone’s Liberty Media is splitting off 2021 World Series champions the Atlanta Braves Baseball Club and related assets into a separate public company “to better highlight its strong value.”

John Malone, billionaire Liberty Media chairman and architect of the Warner Bros Discovery merger, believes WBD’s mix of ad-free and ad-supported streaming under CEO David Zaslav will succeed “if he makes good stuff.”

Qurate Retail Group, the John Malone-backed owner of video screen shopping mainstays QVC and HSN, has installed former Amazon exec Soumya Sriraman as president of streaming.

Todd Spangler NY Digital Editor Soumya Sriraman, most recently head of Amazon’s Prime Video Channels, has been hired by Qurate Retail Group, the parent company of QVC and HSN, as president of streaming. In the newly created role at the John Malone-controlled company, Sriraman will lead Qurate Retail’s streaming commerce business, which includes the QVC+ and HSN+ streaming services and QVC’s and HSN’s expanding presence on digital livestreaming TV. Sriraman joins the company effective Sept. 7, reporting to Mary Campbell, president of vCommerce Ventures (the business unit that operates the company’s streaming service). Sriraman spent two years leading Amazon’s Prime Video Channels in the U.S. and exited the role this summer, as first reported by Variety. She was in charge of the business that sells add-on subscription services for Paramount+, Discovery+, Starz, PBS and others to Amazon Prime members. Prior to Amazon, Sriraman was the founding CEO and president of streaming service BritBox, formed by the BBC and ITV. Before that she served was EVP of franchise and digital enterprises at BBC Studios and held senior positions at Tartan, Vivendi Universal, Warner Bros. and Universal Studios.

News junkies this week are agitated over the disappearance of CNN’s Reliable Sources, but cable news network chiefs have a deeper concern: the disappearance of reliable anchors.

Brian Stelter signed off from CNN on Sunday with the final edition of Reliable Sources, telling viewers that “CNN must remain strong,” while his guests warned throughout the hour of the threats facing the media and democracy.

Brent Lang Executive Editor of Film and MediaIt’s that time of year again. That post-July 4th period when media barons and billionaires break out the Brooks Brothers casual and don their sweater vests to hit an idyllic Idaho resort town of Sun Valley for another edition of “lets make a deal.”Many of the names expected to rub elbows next month are familiar ones. Microsoft founder Bill Gates, Liberty Media’s John Malone, Comcast chairman Brian Roberts, Alphabet CEO Sundar Pichai, Apple pasha Tim Cook and Berkshire Hathaway guru Warren Buffett are among those who have once again made the cut for Allen & Co.’s annual media conference.

Formula 1 is back on familiar turf this weekend at the Monaco Grand Prix, a glamour-wrapped race that has been a fixture since 1929.

David Zaslav, CEO of Warner Bros Discovery, proclaimed the merged company as essentially the fifth broadcast network, and repeated his vow that the company would overcome any skepticism about its prospects.

Cynthia Littleton Business EditorWarner Bros. Discovery CEO David Zaslav raised the curtain on the combined Warner Bros.

“Look, people are not held accountable for inaccuracies, so there’s that issue,” former Disney kingpin Bob Iger says of the news media business today.

Tom Rutledge, chairman and CEO of Charter Communications, saw his 2021 compensation rise to $41.9 million from $38.8 million in 2020.

Discovery and AT&T have determined the 13 members of the board of directors for Warner Bros Discovery, the new company that will be created via a pending $43 billion merger.

Todd Spangler NY Digital EditorSamuel Di Piazza Jr. will serve as the chairman of Warner Bros.

Discovery just announced that its stockholders have approved its merger with AT&T’s WarnerMedia to create Warner Bros. Discovery, “a premier, global entertainment company” — marking the completion of one of the few remaining closing conditions for the merger.

Jennifer Maas TV Business WriterWarnerMedia has been owned by telco giant AT&T for less than four years and it will soon have a new parent company — likely by the end of next month.Discovery’s shareholder vote on the acquisition of WarnerMedia is set for today during a special meeting of stockholders set for 10 a.m. ET. The deal is expected to get an easy thumbs-up given the approval already bestowed by Discovery’s oldest and most influential holders, investor John Malone and Advance/Newhouse Co.