CEO of the new merger informed that Warner Bros Discovery will "own one of the deepest libraries in the world with nearly 200,000 hours of iconic programming". It will also bring together more than 100 brands that are now under both companies.
The new logo for Warner Bros. Discovery merger
Entertainment giants WarnerMedia and Discovery have merged to give birth to a new company christened Warner Bros Discovery. The name and logo of the new entertainment company was announced by Discovery CEO David Zaslav in a conversation hosted by WarnerMedia CEO Jason Kilar.
Zaslav will be in charge of the merged group. They also informed that Warner Bros Discovery will "own one of the deepest libraries in the world with nearly 200,000 hours of iconic programming". It will also bring together more than 100 brands that are now under both companies.
The newly merged entertainment giant hopes to become a strong competition for online streaming. WarnerMedia runs HBO Max and Discovery has Discovery+. HBO Max has been fairly successful but remains much smaller than Netflix and Disney Plus, while Discovery+ is comparatively a young OTT platform. CEO David Zaslav said that the company will put $20 billion per year towards creating new content, which is more than Netflix and Disney Plus. He also hopes their streaming platform will reach 400 million homes.
Zaslav also revealed the company’s new tagline, a famous line borrowed from the 1914 Warner Bros movie "The Maltese Falcon”, - “The Stuff That Dreams Are Made Of”.
In the meeting, David Zaslav explained the vision of the merger. According to him, “Warner Bros. Discovery will aspire to be the most innovative, exciting and fun place to tell stories in the world – that is what the company will be about,” Zaslav said in a statement.
“We love the new company’s name because it represents the combination of Warner Bros.’ fabled hundred year legacy of creative, authentic storytelling and taking bold risks to bring the most amazing stories to life, with Discovery’s global brand that has always stood brightly for integrity, innovation and inspiration. There are so many wonderful, creative and journalistic cultures that will make up the Warner Bros. Discovery family. We believe it will be the best and most exciting place in the world to tell big, important and impactful stories across any genre – and across any platform: film, television and streaming.”