The biggest moves will come with realignment as Jon Diament, Karen Grinthal and Greg Regis divide responsibilities among the company's more than 20 cable TV networks. Reports last month suggested the
new Warner Bros. Discovery would cut around 30% of its ad force as part of the goal CEO David Zaslav outlined to investors, to achieve $3 billion in synergistic savings as a result of the merger.
The Discovery CEO may be more the TV-media centric boss for all things WarnerMedia, including HBO Max, than the less entertainment-savvy AT&T.
Signaling a wider macro-view of a possible slowdown in advertising, traditional TV-based media companies' stock prices declined sharply after Snap said on Tuesday it is seeing a sharp deceleration of
its digital ad revenues. MoffettNathanson Research senior research analyst/co-founder Michael Nathanson says there are some concerns that Q2 may end a bit soft. Many companies sank to new 52-week
Linear TV networks under the new company including TNT, TBS, CNN and now Discovery Channel, HGTV, Food Network, and Investigation Discovery, now comprise an estimated 49% of company revenue,
MoffettNathanson Research says, looking at the companies' combined 2021 financial data.
Combined revenue for Warner Bros. Discovery is estimated to be $49.8 billion this year -- meaning it will slot in below Walt Disney's $67.4 billion and above Paramount Global's $28.6 billion. But
revenues alone won't be enough to really compete with Netflix, analysts say, in terms of subscribers or viewing for the key growth business of streaming TV and video content from subscription CTV
A merger will "instantly become the largest home of linear impressions, sourcing 28% of the 2020 U.S. viewing time and 24% of U.S. national advertising," MoffettNathanson Research says.