The deal combines two treasure troves of content and foreshadows further changes in the streaming era.
The newly formed company, Warner Bros. Discovery, will begin publicly trading on Monday. Zaslav said he will hold a town hall event for employees of the combined company later in the week.
“I am confident that our collective energy and genuine love for these businesses and brands will build the world’s most dynamic media and entertainment company,” Zaslav said in a memo to employees Friday afternoon.
Zaslav said Warner Bros. Discovery “can propel the creation of high-quality content; create more opportunity for under-represented storytellers and independent creators; and serve customers with more innovative video experiences and points of engagement.”