On the way to the Milan-Cortina Olympics, Warner Bros Discovery CEO David Zaslav held several meetings with European and U.K. regulators this week to discuss various topics, including its pending $83 billion deal with Netflix and cable network spinoff Discovery Global, TheWrap has learned.
On Tuesday, Zaslav met with Germany’s Federal Government Commissioner of Culture and the Media Wolfram Weimer in Berlin, where the pair discussed HBO Max’s launch in the country as well as the state of the media industry.
They also discussed WBD’s traditional broadcasting business following the closing of the Netflix deal, in which Zaslav noted that the business in Europe and the U.K. under Discovery Global would remain “largely unchanged,” with a “robust commitment to local content and storytelling,” an insider familiar with the matter told TheWrap.
Zaslav proceeded to meet with Dutch Prime Minister Dick Schoof in Amsterdam on Wednesday, where the pair discussed the evolving media ecosystem and the related investment climate.
He also had a lunch meeting with U.K. Secretary of State for Culture, Media, and Sport Lisa Nandy in Milan on Thursday, where they discussed the upcoming launch of HBO Max in the country and Ireland in late March, the Olympic Games broadcast and the fractured media marketplace.
Additionally, Zaslav met with United States Ambassador to Italy, Tilman Fertitta, where the pair also discussed the Netflix deal and Discovery Global spinoff.
Zaslav’s series of meetings come as Netflix co-CEO Ted Sarandos and Warner Bros. chief revenue and strategy officer Bruce Campbell fielded questions from Senate lawmakers on Tuesday.
The antitrust hearing on Capitol Hill came as lawmakers on both sides of the political aisle, as well as Hollywood unions and industry creatives, have expressed concern about the deal’s potential impact on consumer prices, competition, jobs in Hollywood and the streaming and theatrical businesses.
It also follows a similar series of meetings between international regulators and Netflix.
Paramount CEO David Ellison, who has launched a $108.4 billion hostile takeover bid for all of Warner Bros. Discovery and proxy fight in an attempt to thwart the Netflix deal, has also held a similar series of meetings.
In an open letter to U.K. creatives, Ellison promised a total of at least 30 films under a combined Paramount-WBD and said HBO would continue to operate independently. He also committed to continued third-party licensing and content buying, a minimum 45-day theatrical window with plans for 60 to 90 days or more to maximize audience reach, and to preserving the home video window.
“I firmly believe that uniting Paramount and Warner Bros. Discovery presents a unique opportunity to build a true champion for the creative community, one that can and will bring more stories to life, support filmmakers and talent with real scale, and compete effectively on the global stage as an independent media leader,” Ellison wrote. “At the same time — and in stark contrast to Netflix’s path — this proposed combination is intended to strengthen competition by creating a more capable and effective rival to the dominant platforms.”
Both the Netflix deal and Paramount bid are being reviewed by the Department of Justice and European Commission. Netflix has said its deal would close within 12 to 18 months, while Paramount has said a potential deal could close within a year.
After previously saying he would be involved in the regulatory review process, President Donald Trump flipped on Wednesday, telling NBC News he wouldn’t be involved and leave it up to the Justice Department.
Paramount, which had 168.5 million shares, or around 7% of WBD’s total 2.48 billion outstanding shares validly tendered and not withdrawn as of Jan 21, has extended the tender offer deadline to Feb. 20. Shareholders can withdraw at any time before the deadline. Meanwhile, shareholders are expected to vote on the Netflix deal by April.
