David Zaslav Gunnar Wiedenfels tv video film broadway David Zaslav Gunnar Wiedenfels

Discovery April Ad Sales Off 20% But May-June Better; Co. Will Consider Acquisitions; CEO Slams Pricey Sports-Stuffed Cable Packages

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By Jill Goldsmith Discovery, Inc.’s U.S. ad revenue dropped 20% in April as the COVID-19 panic took hold but May and June look sbetter.

The highly international company’s board will be looking carefully at acquisition opportunities around the world. And CEO David Zaslav put the blame for subscriber erosion on linear TV squarely at the feet of bundles jammed with costly sports.

In a wide-ranging investor call following strong quarterly earnings, Zaslav and CFO Gunnar Wiedenfels discussed Olympic advertising (its Europsort subsidiary has European broadcast rights); surging ratings for its brand of cooking, DIY and comfort programming; this year’s odd upfront; continued work with cable operators on a DTC product; and restarting production.

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