The new streaming service will launch in the U.S. in 2023.
WarnerMedia, which was previously owned by AT&T, was acquired by Discovery in April, creating Warner Bros. Discovery and combining properties like HBO and CNN with Discovery’s cable networks and streaming service. Zaslav has said he wanted to find $3 billion in savings in the newly-formed company, and in just three months has made several sweeping changes to the company, like axing streaming service CNN+ only a month after it launched and pulling the plug onto make the film.
Combining HBO Max and Discovery+ into one streaming service is not a new idea: Zaslav and other executives have previously suggested this was their intention. The merging of the two services could be a cost-saving measure, but Zaslav also presented it as part of the company’s strategy to “maximize” and “monetize” its content to as wide of an audience as possible. Rumors of major restructuring were widely reported Wednesday ahead of the earnings call. Earlier on Thursday, Warner Bros.
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