![]() We're a leader in news and over time, we have the money. There's a deal that we announced yesterday with BT, and I want to talk about, we're a leader in kids. We got HBO, we got HBO Max, we have all of our IP, we have all of our sports the leader in sports in Europe. So we're going to be less than three times levered after 24 months, and here we are with $8 billion in free cash flow and growing and on the right side of the company. Warner Brothers Discovery has great fundamental economics. So you've seen a lot of volatility in the market with okay, we got a lot of companies that are hey, look what I have for the future. The difference between this company and the overall fundamentals of any other media company that I have seen is that we see in 23, that we're going to be generating $8 billion or more in free cash flow, and $15 billion in EBIT and over $50 billion in revenue. ZASLAV: Well, I'm focused on I know what I need together with a great leadership team and the great assets that but you mentioned two points. I don't know about streaming, how many are going to be eventually how much money you're gonna make with that how many it's just does everyone else have to do they have to do something? What's Comcast got to do? What's the what's Disney got to do with Viacom right? What does everyone else have to do in this new world that you're creating? KERNEN: As in the past a I really think this is like a transformative deal, obviously, but everybody else suddenly is in a position like with the changing landscape. ![]() We've been able to spend years trying to figure out what do people like what do they want more of so as John and Ann and Jason And so together I think we're going to get on this track and we're gonna take it for ride it. ZASLAV: So it's at a time of disruption, owning more IP, more diversity of IP and being able to get on a train that's already moving the cell mostly 74 million subscribers. KERNEN: Definitely did you say to the left that you weren't kidding? No, that was an aside I probably should have said. Why would they go anywhere else? And then w are the leader and news to the left. So we have this great entertainment menu, which should keep people in the homes and the kids that have grandparents. I think it's really the right time, because more and more when consumers are thinking about where they want to go they don't want to go to eight or nine different places and they're not going to pay for multiple, multiple different options and we have when this company comes together this is something that John and I spent a lot of time talking about, over the broadest menu of entertainment, from kids to adults to teenagers, the greatest movie library TV library, and we have more local content than anybody in the world motion pictures. We've been spending a lot of time thinking about what can we do, but it's coming. It's really formidable and it is exciting. You know, the greatest news gathering organization and news the only really powerful global news force in the world. Warner Brothers television over almost 400 shows that are the biggest producers makers of content in the world. To put that together now at the time of transition with the great assets that John Stanky and his team have HBO really in a leadership position in terms of quality and content. And I've been at Discovery for 16 years and we've been we've gone from a cable business, a US cable business to the leader internationally, we added sports and we added free air and we've always owned our IP. This is a fantastic collection of assets. How are you going to where is media and what are you going to do with this this great new, shiny object you have?ĭAVID ZASLAV: Well first, it is a little bit surreal. And I glad that you not me, obviously but media is difficult. What am I gonna do but I mean this is a big job you've got now and it's a daunting future. I generally go back I do not like the dog chasing the bus are you in catches it that's like all by god what am I gonna get? I finally got it. Someone who hopefully does a lot of product discovery CEO David Zaslav. ![]() Joining us now to talk more about the merger between AT&T's WarnerMedia Discovery. Topics include: merger with WarnerMedia, CNN's Jeff Zucker's resignation, among others. Following is the unofficial transcript of a CNBC interview with Discovery CEO David Zaslav on CNBC's "Squawk Box" (M-F 6AM – 9AM ET) today, Friday, February 4 th for AT&T Pebble Beach Pro-Am in Pebble Beach, California. ![]()
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