Global media conglomerate Discovery has extended the contract of president and CEO David Zaslav through to Dec. 31, 2023.
Discovery’s decision to re-up Zaslav provides “ongoing management continuity and stability” and ensures that the executive – a long-term shareholder in Discovery – will continue to lead the global brand for the next five-and-a-half years.
In addition, Zaslav has committed to hold the majority of his equity from stock grants to term, furthering the alignment of shareholder and management interests.
Under Zaslav’s leadership, Discovery acquired Scripps Networks Interactive and all eight of its U.S.-based unscripted channels, including HGTV, Food Network, and Travel Channel, and in the process expanding Discovery’s own portfolio of channel providers in the country to 19. Also in 2018, Discovery inked an alliance with the PGA Tour, which included global television and multi-platform live rights, outside the U.S., to all PGA Tour media properties.
Zaslav joined Discovery as president and chief executive in 2007 from NBCUniversal, where he was instrumental in developing and launching CNBC and also played a role in the creation of MSNBC. Prior to this, he was an attorney with the New York firm of LeBoeuf, Lamb, Leiby & MacRae.
“David has done a masterful job leading and growing Discovery over the last decade,” said John Malone, Discovery board member and chairman of Liberty Media and Liberty Global in a statement. “He is a visionary, a strategic builder and all around great guy.
“Under David’s leadership, Discovery has scaled new heights becoming the leader in sports across Europe, building the leading global IP portfolio of high quality content, and positioning Discovery for continued global growth,” Malone added. “We are lucky to have him.”
Added Zaslav: “Leading Discovery is my dream job. I would like to thank Discovery’s board of directors, fantastic management team, business partners, and all of our passionate superfans around the world for helping to make Discovery the unparalleled company it is today. Together, we are building something special. The new Discovery has the leading IP portfolio of beloved brands in the world, reaching viewers globally on every screen and service. Being at Discovery for the past 11 years has been the privilege of my career. I am confident our brand strength, global platform and marketplace differentiation will ensure that Discovery continues to grow and deliver value to our viewers, partners and shareholders for many years to come.”