David Zaslav
Olivia Michael | CNBC
Warner Bros. Discovery staff confronted one other spherical of layoffs this week, notably these within the cable-TV community aspect of the business.
The layoffs affected the corporate’s huge portfolio of cable-TV networks together with the Discovery Channel, Investigation Discovery and the Food Network. The Turner Classic Movie channel additionally was affected and noticed a serious management shakeup because of this, which prompted concern amongst cinema followers and other people devoted to movie preservation.
Known as TCM, the community is acknowledged as a spot for preservation of traditional movies and a fastidiously curated lineup of visitor introductions, documentaries and non-English-language films. Its choices are among the many films and exhibits included on Warner Bros. Discovery’s streaming app Max.
The shakeup on the community impressed Warner Bros. Discovery CEO David Zaslav to achieve out to prime filmmakers — together with “Goodfellas” director and movie preservation chief Martin Scorsese; Steven Spielberg, the filmmaker behind a trove of Hollywood masterpieces together with “Schindler’s List;” and Paul Thomas Anderson, who directed acclaimed hits like “There Will Be Blood” — to reassure them the essence of TCM wouldn’t change underneath new management.
“Turner Classic Movies has always been more than just a channel. It is truly a precious resource of cinema, open 24 hours a day seven days a week,” the trio of filmmakers mentioned in a joint assertion. “And while it has never been a financial juggernaut, it has always been a profitable endeavor since its inception.”
Scorsese, Spielberg and Anderson added that Zaslav contacted them relating to the restructuring of TCM, including they every hung out speaking with the CEO, individually and as a gaggle, “and it’s clear that TCM and classic cinema are very important to him. Our primary aim is to ensure that TCM’s programming is untouched and protected.”
Director Steven Spielberg.
Gilbert Flores | Variety | Getty Images
In April, Spielberg and Anderson had a dialogue about movie preservation efforts on the TCM Classic Film Festival. Zaslav joined them on stage, based on media stories.
A consultant for Warner Bros. Discovery declined to remark past pointing to the filmmakers’ assertion.
The merger between Warner Bros. and Discovery in 2022 created the largest portfolio of cable-TV networks underneath one roof throughout a time of considerable wire reducing as many shoppers go for streaming companies. The merger additionally got here when main streaming platforms like Netflix started to see their subscribers plateau and turned their focus from progress to profitability.
Warner Bros. Discovery has been grappling with a hefty debt load stemming from the merger, and has been on the lookout for methods to decrease its prices. It has undergone numerous layoffs – which can quantity to 1000’s of staff dropping their jobs – in addition to different measures, similar to lowering content material spending.
In addition, the corporate just lately rebranded its flagship streaming service as Max, a mix of its Discovery+ and HBO Max content material. Content from its cable-TV networks, together with TCM, is featured on the service.
“We are heartened and encouraged by the conversations we’ve had thus far, and we are committed to working together to ensure the continuation of this cultural touchstone that we all treasure,” Scorsese, Spielberg and Anderson mentioned within the assertion.
Source: www.cnbc.com