David Zaslav Calls Netflix Deal a ‘Clearer Path Forward’ for Warner Bros. Discovery in Memo to Staff

Warner Bros. Discovery head David Zaslav praised the Netflix deal as a “clearer path forward” for the company in a memo to staff that was sent on Friday. The letter comes after Netflix came out on top of the bidding war, agreeing to acquire WBD in a $82.7 billion deal.

“What we can say now, based on the direction set out today, is that this structure provides a clearer path forward for Warner Bros. within Netflix, and for Discovery Global as a standalone company. For both, the goal is to position their creative work, talent, and brands to navigate a market that is constantly evolving and increasingly global,” Zaslav wrote.

The CEO went on to say that both WBD and Netflix demonstrate “complementary strengths,” emphasizing that the merger will allow for more customer choice, a stronger hold in the entertainment industry, more opportunities for talent and “long-term value creation for shareholders.”

He also wrote that the deal “reflects the realities of an industry undergoing generational change” in the film and television industries, noting that the way projects are financed, produced, distributed and discovered has shifted. “Over the past several months, the Board evaluated a full set of strategic paths. Their conclusion is that this structure – Warner Bros. joining Netflix, and Discovery Global becoming a focused standalone company – provides the strongest long-term foundation for both sets of businesses,” Zaslav wrote.

The letter also outlined how the deal will logistically work to WBD staff. Warner Bros. Discovery will continue its plan to separate the studio and streaming assets into Warner Bros. — the portion of the company Netflix will purchase — and the cable assets into Discovery Global. Current Chief Financial Officer Gunnar Wiedenfels to serve as CEO of Discovery Global once the new company separates from WBD, a move that is now expected to take place in the third quarter of 2026.

Both Warner Bros. Discovery and Netflix will remain separate companies until the deal is complete. Furthermore, WBD is creating an Integration Office, which will allow company planning to be coordinated alongside Netflix. This office will be designed to meet regulatory requirements. Zaslav also cautioned members of his staff against reaching out to Netflix staff directly.

“It may be tempting to reach out directly to counterparts or former colleagues at Netflix, but it is essential that all interactions are managed through this office to ensure we meet every legal and regulatory obligation,” he wrote.

As for more immediate actions, WBD will hold an internal global town hall later today. Business unit leaders will hold more specialized discussions with their teams in the coming days, and managers will come together early next week for another meeting about this upcoming transition.

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