Discovery and AT&T have determined the 13 members of the board of directors for Warner Bros Discovery, the new company that will be created via a pending $43 billion merger.
The board includes many existing directors for Discovery and AT&T, parent of WarnerMedia and soon to be a partner in the new entity. Samuel Di Piazza, who currently sits on AT&T’s board, will be chairman of Warner Bros. Discovery.
Discovery CEO David Zaslav, who will lead the new company, will be a Discovery designee to the WBD Board. As agreed in the initial merger proposal last May, Discovery gets six designated board members and AT&T gets seven. John Malone, a billionaire and widely respected media veteran, is one of the key Discovery choices and had long advocated for the merger with WarnerMedia.
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Current AT&T board members being named to the WBD Board will step down from their AT&T board positions upon the closing of the combination.
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“I look forward to working alongside and benefiting from the collective experience of this group of distinguished leaders,” Zaslav said. “This board brings diverse personal perspectives, strong track records and invaluable industry knowledge. Its stewardship will help establish the company as the premier creator of impactful storytelling across genres and platforms.”
The merger was approved last week by Discovery shareholders, clearing the final hurdle before it can be completed. Only administrative and procedural steps remain, and expectations are for the ink to dry by early April.
Here, in alphabetical order, are the rest of the board members, whose terms will begin as soon as the deal closes:
Robert R. Bennett – a Discovery director since 2008 and managing director of Hilltop Investments, a private investment company
Li Haslett Chen – founder and CEO of Narrativ, a commerce and payments platform
Richard W. Fisher – former CEO of the Federal Reserve Bank of Dallas from 2005 until 2015
Paul A. Gould – A Discovery, Inc. director since 2008 and managing director and EVP at investment bank Allen & Co.
Debra L. Lee – a current AT&T director, chair of Leading Women Defined Foundation, an LA-based nonprofit education and advocacy organization; and BET Networks chair and CEO from 2006 until 2018
Dr. John C. Malone – a Discovery, Inc. director since 2008 and chairman of the boards of Liberty Media Corporation, Liberty Broadband Corporation and Liberty Global
Fazal Merchant – senior advisor to Sixth Street Partners and former Co-CEO of Tanium Inc., a subscription-based global cyber-security and IT management company
Steven A. Miron – a Discovery, Inc. director since 2008, and CEO of the privately held media company Advance/Newhouse, and a senior executive officer at Advance, a private, family-held business that owns and invests in media and technology companies
Steven O. Newhouse, Co-President of Advance, a private, family-held business that owns and invests in companies across media, entertainment, technology, communications, education, mass participation sports and other sectors
Paula A. Price – former CFO of Macy’s
Geoffrey Y. Yang – a current AT&T director and founding partner and managing director of Redpoint Ventures, a global private equity and venture capital firm based in Woodside, CA
I do find it amazing when a single investor holds 70++% of AT&T that the present board or officers wouldn’t even ask about a possible involvement in the process considering they will also inherently have over 50++% of the new Entity also. I see it so many times, why is that the case?
Not one Latino on this board. Not ONE? Incredibly disappointing given that Warner Bros was founded in California where 40% of the population is Latino. Where’s the representation? It’s 2022! Ignoring a large group and ignoring their spending power is a missed opportunity. But they know that. They just don’t care.
Who cares. As long as they can run the freaking company and make money. I don’t care if it’s a spitball and a paperclip, as long as they know what they’re doing. Unfortunately, Mr spitball and Mr paperclip could probably do better. So let’s just get over the craziness.
Latinos need not apply. Or watch.