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When it comes to David Zaslav, even the most cynical executives can hardly restrain themselves. Lloyd Blankfein, the former chief executive of Goldman Sachs, struggled to think about some key and even neutral things in order to talk about his long-term friends.
“I usually don’t like people. He is a bit exception. I find it difficult to be so narcissistic to him.” Blankfein said. “If you go out for dinner, he will wear those clumsy badge vests… He has a “joyful” side, and he is very enthusiastic, sometimes I talk to him very tired. I have to rest but it is all positive.”
Tiggerish’s energy was wiped out with relentless ambitions, and this week he helped Zaslav plan a ten-year media coup: Not only united He was on WarnerMedia’s smaller discovery team, but then Accept order The combined company, in terms of revenue, is the second largest entertainment company in the world.
Even if the technology group controls the business that shifts to streaming media, the rise of Zaslav shows that the Alpha male veteran media guard who cut his nose in the era of satellite antennas and VHS can still shine in Hollywood. Through a deal, Zaslav has approached the power position of his business icon: his former boss Jack Welch, his mentor John Malone, CNN’s Ted Turner, and the Harry and Jack Warner brothers.
Executives known for their reality shows include 90 days fiance with Man and bear If the merger is completed, it will host one of Hollywood’s most coveted assets, including HBO, CNN and Warner Bros. Studios. “He is from the East Coast, wearing a sweater vest, and a cable TV guy,” said a former colleague. “A large crowd in Hollywood was shocked that a vulgar person like him escaped the crown jewel.”
But those crown jewels are with them $55 billion in debt As part of the AT&T agreement. Zaslav must master a new streaming media business model that requires a lot of losses to achieve profitability, and may never get the profits enjoyed by traditional TVs.And he must do it globally with the company WarnerMedia Suffered heavy losses due to restructuring Last few years.
Zaslav was born in Brooklyn in 1960 and grew up in Rockland County, New York City, about an hour north of the city. After receiving training in law school, he quickly entered the NBC television business in the 1980s. At that time, radio and television were well-deserved and cable television was largely considered vulgar. In 1987, he married his high school lover Pam in the Hamptons, where they now have a legendary late summer party.
When Zaslav joined Discovery in 2007, the financial crisis was imminent and Netflix was about to start streaming. He managed to triple revenue, created a 57% profit margin in the United States, and expanded through the acquisition of Scripps and Eurosport.
However, Zaslav’s greatest achievement was a $43 billion deal this week with his golf friend John Stankey. He was the CEO of AT&T. Three years ago, he $85 billion has been paid for this. The negotiations were so secretive that Zaslav did not even hint at being with close friends such as CNN’s Jeff Zucker or Jeff Bewkes.
Discovery immediately changed from a possible competitor to a player who might challenge Netflix and Disney. The challenge facing Zaslav: To expand Warner-Discovery’s huge brand, radio and streaming services to a platform with more than 200 million subscribers, it needs to become one of the few large groups in a revolutionary Hollywood.
Former HBO CEO Richard Plepler is optimistic that he left the company shortly after AT&T took over in 2018. “[Zaslav] He is an energetic, strategic-minded person who loves the actual business he runs. He likes HBO, as well as CNN and Warner Bros. “He said. “That’s the secret seasoning.” ”
Bewkes sold Time Warner to AT&T in 2016, and he believes that Zaslav will bring a “much-needed sense of trust” to Warner employees. “They are saying: Oh, thank God. AT&T is not listening. They will listen when they find it,” he said.
For all good friends, Zaslav can be an arduous task leader who can send emails around the clock at night. An old colleague called him a “sailor” and sometimes called him a “despicable” employee. The former executive said: “But he is even charming to the people he expelled.”
Blankfein said: “He is the kind of person that everyone supports.” “I have received support and support, and it would be better to be a supporter of people.”
The excellent package matches his motivation: his $129 million in 2018 made Zaslav the highest paid CEO in the United States. On the eve of the WarnerMedia transaction, he obtained stock options currently valued at nearly $190 million.
On Tuesday, the fast-moving executive listed his Greenwich Village townhouse for sale, where he met with Stanci to discuss a deal to send him to Los Angeles. Last year, he spent $16 million to buy the Beverly Hills mansion once owned by Godfather producer Bob Evans, a deal heralding his next move.
Zaslav announced on Monday: “I will find my office on the premises of Warner Bros.” “I will be in New York. I will be in any creative place in the world… Because that will make us better. .”
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