John Malone, the astute and forward-thinking media tycoon who has been an important ally of David Zaslav, has chosen not to run for re-election on Warner Bros. Discovery’s board of directors. Instead, he will assume the position of emeritus chair upon the expiration of his term this year.
In a statement regarding Malone’s new role, the company explained that he will still participate in regular board meetings and provide strategic guidance. However, his active involvement in the daily management of the business will decrease.
Malone supported Zaslav, the CEO of Warner Bros. Discovery, in his daring decision to merge Discovery with WarnerMedia in 2021. Malone was a significant shareholder in the cable company that aimed to unite with the considerably larger WarnerMedia, as AT&T chose to divest from Hollywood following its brief tenure owning the film and television studio.
John’s strategic mind is one of the brightest our industry has seen, and his unique insights into the global media landscape have proven indispensable to me. His visionary outlook has significantly contributed to the success and expansion of Discovery, and continues to play a crucial role at Warner Bros. Discovery,” Zaslav stated.
Zaslav continued by expressing that “one of the most rewarding aspects of my profession has been the bond of partnership and friendship we’ve nurtured for over three decades.
Beyond his significant investment in Warner Bros. Discovery, Malone also serves as the head of Liberty Media Corporation and Liberty Broadband Corporation, in addition to Liberty Global Plc.
Warner Bros. Discovery has encountered doubts from certain investors due to the substantial debt it took on during the merger, combined with the ongoing challenges faced by the entertainment industry as it navigates the decline of cable and cinema businesses. However, Malone expressed optimism regarding the company’s prospects moving forward.
Serving on the Warner Bros. Discovery Board has been an honor, collaborating with David and his outstanding team to navigate an industry-shaping merger and continue the company’s transformation. Throughout this journey, my enduring partnership with David has remained steadfast, based on mutual trust and his unique blend of exceptional management skills and bold decision-making.
Warner Bros. Discovery announced that they plan to appoint Anton Levy, a financier and consultant at General Atlantic, as a member of their board.
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2025-04-11 15:46