Good News for Investors: Warner Bros. Discovery Grants Extension to HBO Chief
The merger in April of WarnerMedia and Discovery to form Warner Bros. Discovery (NASDAQ: WBD) led to a restructuring of HBO, where some executives left. But Warner CEO David Zaslav has officially extended HBO President Casey Bloys' contract by five years. Here's why that's positive news for HBO and HBO Max.
HBO has undergone significant changes, having had three separate owners in the past six years and also launched its streaming service HBO Max in May 2020. Through it all, Bloys has remained a vigilant guardian of the service, being its president for the last seven years. Zaslav's five-year extension of Bloys' contract is a vote of confidence in the executive whose efforts have led HBO and HBO Max to immense success.
Bloys oversaw the company's venture into the fiercely competitive streaming industry with the launch of HBO Max. HBO and HBO Max amassed 76.8 million subscribers by the first quarter of 2022, an increase of 12.8 million.
Source Fool.com
