David Zaslav
Olivia Michael | CNBC
Warner Bros. Discovery employees have experienced a new round of layoffs, primarily affecting the cable-TV network segment of the company.
This round of layoffs has impacted a wide range of cable-TV networks owned by Warner Bros. Discovery, including popular channels such as Discovery Channel, Investigation Discovery, and Food Network. The Turner Classic Movie channel has also been affected, resulting in significant changes in leadership. This development has raised concerns among film enthusiasts and preservationists.
Turner Classic Movies (TCM) is renowned for its preservation of classic films, carefully curated lineup of guest introductions, documentaries, and non-English-language movies. Its content is also featured on Warner Bros. Discovery’s streaming app, Max.
The leadership changes at TCM prompted Warner Bros. Discovery CEO David Zaslav to personally reassure top filmmakers, including Martin Scorsese, Steven Spielberg, and Paul Thomas Anderson. Zaslav sought to reassure them that the essence of TCM would remain unchanged under the new leadership.
In a joint statement, Scorsese, Spielberg, and Anderson expressed their support for TCM, stating, “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. And while it has never been a financial juggernaut, it has always been a profitable endeavor since its inception.”
The filmmakers further emphasized that Zaslav had engaged in multiple discussions with them, both individually and as a group, reaffirming his commitment to preserving TCM’s programming and ensuring its protection.
Director Steven Spielberg.
Gilbert Flores | Variety | Getty Images
In April, Spielberg and Anderson participated in a discussion about film preservation efforts at the TCM Classic Film Festival. Zaslav joined them on stage, as reported by various media outlets.
A representative for Warner Bros. Discovery declined to provide further comments beyond referring to the filmmakers’ statement.
The merger between Warner Bros. and Discovery in 2022 resulted in the creation of the largest portfolio of cable-TV networks under one entity during a time when cord-cutting is prevalent and consumers are opting for streaming services. This merger also coincided with major streaming platforms like Netflix shifting their focus from growth to profitability as they witnessed their subscriber numbers plateau.
Warner Bros. Discovery has been grappling with a significant debt burden stemming from the merger and has been actively seeking ways to reduce costs. This has led to several rounds of layoffs, resulting in thousands of employees losing their jobs, as well as other measures such as reduced content spending.
In addition, the company recently rebranded its flagship streaming service as Max, combining content from both Discovery+ and HBO Max. Content from cable-TV networks, including TCM, is also featured on this service.
In their statement, Scorsese, Spielberg, and Anderson expressed their optimism about the ongoing conversations with Warner Bros. Discovery and their commitment to working together to preserve this cherished cultural touchstone.
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