Warner Bros. Discovery CEO David Zaslav.
Olivia Michael | CNBC
Warner Bros. Discovery employees faced another round of layoffs this week, particularly in the cable TV network side of the business, including a major leadership shakeup at its Turner Classic Movies channel.
TCM is recognized as a place for preservation of classic films and a carefully curated lineup of guest introductions, documentaries and non-English language movies. The shakeup drew concern from cinema fans and people dedicated to film preservation, prompting Warner Bros. Discovery CEO David Zaslav to reassure top filmmakers the essence of TCM would not change under new leadership, according to a trio of filmmakers.
“Goodfellas” director and film preservation leader Martin Scorsese; Steven Spielberg, the filmmaker behind a trove of Hollywood masterpieces including “Schindler’s List”; and Paul Thomas Anderson, who directed acclaimed hits such as “There Will Be Blood,” said in a joint statement that Zaslav contacted them regarding the restructuring of TCM.
Scorsese, Spielberg and Anderson said they each spent time talking with the CEO, individually and as a group, “and it’s clear that TCM and classic cinema are very important to him. Our primary aim is to ensure that TCM’s programming is untouched and protected.”
“Turner Classic Movies has always been more than just a channel. It is truly a precious resource of cinema, open 24 hours a day seven days a week,” the filmmakers said in the statement. “And while it has never been a financial juggernaut, it has always been a profitable endeavor since its inception.”
“We are heartened and encouraged by the conversations we’ve had thus far, and we are committed to working together to ensure the continuation of this cultural touchstone that we all treasure,” the filmmakers said.
Director Steven Spielberg.
Gilbert Flores | Variety | Getty Images
In April, Spielberg and Anderson had a discussion about film preservation efforts at the TCM Classic Film Festival. Zaslav joined them on stage, according to media reports.
A representative for Warner Bros. Discovery declined to comment beyond pointing to the filmmakers’ statement.
This week’s layoffs affected Warner Bros. Discovery’s vast portfolio of cable TV networks, including the Discovery Channel, Investigation Discovery and the Food Network.
The merger between Warner Bros. and Discovery in 2022 created the biggest portfolio of cable TV networks under one roof during a time of substantial cord cutting as many consumers opt for streaming services. At the same time, major streaming platforms such as Netflix began to see their subscriber numbers plateau and turned their focus from growth to profitability.
Warner Bros. Discovery has been grappling with a hefty debt load stemming from the merger and has been looking for ways to lower its costs. It has undergone a number of layoffs — which will amount to thousands of employees losing their jobs — as well as other measures, such as reducing content spending.
In addition, the company recently rebranded its flagship streaming service as Max, a combination of its Discovery+ and HBO Max content. Content from its cable TV networks, including TCM, is featured on the service.