Discovery Inc. Chief Executive Officer David Zaslav, fresh from his announced acquisition of AT&T Inc.’s film and TV businesses, said media consolidation will only accelerate and he intends to be a catalyst, Bloomberg reports.
“The talk of the week is going to be that the industry is going to start consolidating a little bit more,” the 61-year-old CEO said on his arrival Tuesday at the annual Allen & Co. conference in Sun Valley, Idaho. “We’re not done yet.”
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| David Zaslav |
During that time he’ll be looking at whether to keep Discovery+ as a separate streaming service from HBO Max, which costs $10 a month more, he said.
The recent $8.45 billion acquisition of the Metro-Goldwyn-Mayer studio by Amazon.com Inc. underscores the need for participants in the online video boom to bulk up, according to Zaslav.
The Sun Valley Conference, which attracts a who’s who of the finance, tech and media worlds, wasn’t held last year due to the coronavirus pandemic.
This year, extra precautions are in place. All guests have to provide a negative test within 72 hours of arriving, according to people familiar with the matter, On arrival they have to show that negative test and also their proof of vaccination. Additionally, they have to sign a release with the Mayo Clinic certifying they understand the risks and agreeing to an additional test on arrival, the people said. Unlike past years, no children are allowed.
The invite-only conference, hosted by the boutique investment bank Allen & Co., is traditionally held annually at the idyllic Sun Valley Resort following the July 4 holiday. Historically it’s been fertile ground for deals in the world of media, tech and telecommunications.
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