HBO Max cuts 14% of staff mainly in casting, acquisitions and reality TV

Warner Bros. Discovery is eliminating 70 jobs at HBO Max, primarily from the division's reality, casting and acquisitions departments, in accordance with folks conversant in the matter.

The job cuts, which quantity to 14% of staff on the streamer, are half of a bigger effort at Warner Bros. Discovery to remove overlap as HBO Max and Discovery+ come collectively as one streaming service. Discovery closed on its $43 billion acquisition of WarnerMedia in April. Chief Executive Officer David Zaslav has promised $3 billion in synergies from the merger.

Many of the workers who misplaced their jobs have been members of groups that had been led by former HBO Max chief content material officer Kevin Reilly that now not match throughout the new construction of Warner Bros. Discovery, two of the folks stated. Reilly left the corporate in 2020.

Zaslav is combining HBO Max and Discovery+ to type a brand new streaming service that may launch in the U.S. in mid-2023. Discovery will present the reality programming for that product, making HBO Max's reality division pointless, the folks stated. HBO additionally continuously works straight with casting administrators, fairly than utilizing inner folks, and has phased out many of its so-called pay-one offers, in which it acquires licensed movies — work accomplished by its acquisitions division.

Other departments affected embody enterprise affairs, programming and manufacturing, one of the folks stated.

No exhibits will likely be canceled as half of the job cuts, the folks stated. The job cuts aren't focused at HBO Max's scripted collection or movies.

An HBO Max spokesperson declined to remark.

WATCH: Streaming is tough if you're levered as a lot as Warner Bros. Discovery, says analyst

Streaming is tough if you're levered as a lot as Warner Bros. Discovery, says Michael NathansonSquawk on the Street

based mostly on website supplies www.cnbc.com

Related posts

Leave a Reply

Your email address will not be published.