After much speculation about a potential sale of CNN, Warner Bros. Discovery CEO David Zaslav says that’s not on the table.
During the company’s quarterly earnings call this week, Zaslav mentioned that while Warner Bros. Discovery will be exiting the cable regional sports network business, the company views linear cable networks like CNN, HBO, TNT, and TBS as core to its business.
“We like the businesses we have,” Zaslav said. “We feel very good about our hand.”
Unsubstantiated rumors have paired former CNN President Jeff Zucker as a potential buyer for the fledgling network should Warner Bros. Discovery look to offload the cable news channel. The New York Post reported Zucker was “likely” to place a bid to purchase the network from WBD later this year.
Those close to Zucker have refuted those claims, with his RedBird Capital partner Gerry Cardinale saying he was “kind of amused and irritated by” the speculation. He continued by noting that CNN “is not for sale”, adding that isn’t “how we do business”.
The statements from Zaslav come in stark contrast to the language used by Disney CEO Bob Iger last month. In an interview with CNBC, Iger shared that he questions if linear TV “may not be core” to the organization any longer.
