The Guardian·2025-12-06 11:00Core Viewpoint - The article discusses the challenges faced by Warner Bros Discovery following its merger, highlighting the impending acquisition by Netflix and questioning the success of previous promises made during the merger process [1][10]. Group 1: Merger Background - David Zaslav, CEO of Warner Bros Discovery, previously negotiated a significant merger between Discovery and WarnerMedia, combining various iconic brands and promising value creation [2][3]. - The merger aimed to create a "globally scaled growth company" with a strong balance sheet, but the reality has been disappointing for stakeholders [5]. Group 2: Current Challenges - Hollywood operators have experienced cost cuts and difficulties in revitalizing box office returns, contrary to promises of more resources and larger audiences [4]. - Shareholders have seen steep declines in stock value, with executives struggling to improve the company's financial health [5]. - Fans have faced a lack of diverse choices on the streaming platform, which has struggled with branding and content decisions [6]. Group 3: Executive Compensation - Despite the challenges faced by the company, Zaslav has maintained a high compensation level, with a reported pay package of $51.9 million last year [7]. Group 4: Future Prospects - Netflix is planning an $82.7 billion acquisition of Warner Bros and HBO, promising to generate "more choice, more opportunities, more value" for stakeholders [10]. - The article reflects on the historical context of Warner Bros' previous mergers and acquisitions, suggesting skepticism about the success of the upcoming deal [11][12].