\u201cWe\u2019re always open-minded on the M&A front as both buyers and sellers if it makes sense\u201dFries were told CNBC<\/a>. \u201cMost of our effort is going into the markets we\u2019re in. So in the U.K., for example, we\u2019re the largest mobile company, we\u2019re the most the most important broadband company I think. There might be opportunities in that market to continue to rationalize whether its fiber, content or fixed.\u201d <\/p>\n Fries is also analyzing the tea leaves in the entertainment industry. Many expect more consolidation after years of streaming expansion and media proliferation. Wall Street\u2019s pendulum swing against the Netflix model and an increased scrutiny being placed on content budgets has Hollywood looking over its shoulder.<\/p>\n \u201cI think so,\u201dWhen asked if he expected additional consolidation in the near-term, Fries replied. \u201cI think you might see some content assets, not necessarily ours or with us or by us. But studios have inherent value and as Netflix or others look to stay local, we own interest in ITV and All3Media, so we have some studio assets that may be interesting.\u201d<\/p>\n Who knows \u2014 maybe we might all look back on this year\u2019s Sun Valley conference as the nexus point of the industry\u2019s next dramatic shake-up. <\/p>\n \u201cI do feel like there\u2019s going to come a point where people are going to stop adding subscriptions and companies may possibly close down some of their subscriptions,\u201dAccording to a national media buyer, \u201cThere are too many over-the-top services out there.\u201d<\/p>\n Here are some other lessons from the early days of the billionaire summer camp.<\/p>\n HBO Max, a newly formed parent company Warner Bros., halted production in selected European countries earlier this week. This was financially motivated. Discovery targets cost savings of $3Billion Perhaps we shouldn\u2019t be surprised given WBD CEO David Zaslav\u2019s comments Tuesday at Sun Valley. <\/p>\n Discussion of the current \u201cturmoil\u201dZaslav acknowledged that the industry creates \u201ca lot of opportunity,\u201d but he didn\u2019t sound like a man prepared to expand his company\u2019s programming portfolio. <\/p>\n \u201cWarner Bros. Discovery\u2019s got great, quality content,\u201dHe told the story Variety<\/a>. \u201cSo I think the world has changed. And it\u2019s not about how much, it\u2019s about how good. And so we\u2019re pretty excited about our new company and getting to see everybody in this beautiful setting. It\u2019s going to be a lot of fun.\u201d<\/p>\n Zaslav has already moved to pull many of WBD\u2019s basic cable channels, such as TBS and TNT, out of scripted content. The company is currently spending approximately $33 billion<\/a> on content this year, the leadership has said the company doesn\u2019t want to win the \u201cspending wars.\u201d <\/p>\n This sentiment is expected to extend to WBD\u2019s streaming efforts with Discovery+ and HBO Max set to be merged into one service at some point in the future. \u201cWe\u2019ll talk about how we\u2019re going to do it, and when, soon,\u201dZaslav teased. <\/p>\n As media companies reoriented around streaming in recent years to chase the elusive Netflix stock price multiple, linear television became the entertainment industry\u2019s forgotten child. Dissed and dismissed as a declining business despite billions in quarterly revenue, pay TV has suddenly made a roaring comeback as Wall Street\u2019s confidence in the streaming model evaporates. <\/p>\n As such, perhaps we shouldn\u2019t be too shocked that Disney CEO Bob Chapek has apparently reversed course on his desire to spin off ESPN, according to Puck News<\/a>. Disney didn\u2019t immediately respond to \u2019s request for comment.<\/p>\n The money-making draw card of traditional TV is live sports and ESPN has a lot of games. However, even though linear TV’s proven revenue is a source of income for media companies, streaming can complicate matters.<\/p>\n \u201cBrands that typically pull their advertising during a recession are the ones that often have a harder time when they come back,\u201dAccording to the national media buyer \u201cBrands that stay the course, even if at low levels during a time where might is tight, tend to excel because they remain out in the marketplace building awareness and building their brand equity.\u201d<\/p>\n![\"What](\"https:\/\/centralrecorder.com\/wp-content\/uploads\/2022\/07\/Media-Moguls-Talk-Shifting-Streaming-Priorities-Frugality-in-Uncertain-Times.jpg\" "\\"\\"")
<\/p><\/div>\nDavid Zaslav wants quality, not quantity<\/h2>\n
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<\/p><\/div>\nMedia returns to linear TV<\/h2>\n
![\"Disney](\"https:\/\/centralrecorder.com\/wp-content\/uploads\/2022\/07\/What-to-Expect-as-Media-Moguls-Head-to-Sun-Valley.jpeg\" "\\"\\"")
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