Discovery’s $11.9 billion acquisition of Scripps Networks is now complete, and the company has rebranded itself as Discovery, Inc.
Cheddar CEO Jon Steinberg spoke with chief exec David Zaslav on what this deal means for the company's position in entertainment.
Unlike Netflix, Amazon, and HBO, he said Discovery, Inc. will steer clear of scripted original content because that segment of the industry is increasingly crowded, competitive, and expensive.
“That marketplace is tightening. There’s more people bidding for the movies, more people bidding for series. The cost of content is going up,” said Zaslav.
Instead, Discovery, Inc. will focus on its strength: unscripted content that works better on all kinds of devices and around the world.
"We own all of our content globally," Zaslav told Cheddar. "But we'll resell that IP onto different devices. We might be selling it to Facebook, to Amazon, to Apple, to the mobile players."
That gives the company the flexibility to offer “skinny” direct-to-consumer packages.
“We’re the only company that could do it,” he said. “We’re also trying to really drive the marketplace ... We think the skinny bundle could really help the ecosystem here in the U.S.”
Through its acquisition, Discovery, Inc. now has 19 cable networks and reaches 20 percent of women watching prime time pay-TV, something that appeals to advertisers.
“Not only can we do one ad across all those channels...we have viewers that are passionate and engaged with our brands,” said Zaslav.
He added that some of the company’s channels bring in the “longest length of view for any cable network for women on TV.”
For the full interview, [click here](https://cheddar.com/videos/discovery-inc-ceo-david-zaslav-on-closing-scripps-deal).
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
