February 21, 2024

Warner Bros. Discovery CEO David Zaslav.

Olivia Michael | CNBC Money

Warner Bros. Discovery This week, employees face another round of layoffs, particularly in the cable network business, including a major leadership change at Turner Classic Movies.

TCM is considered the place to preserve classic films and curated guest presentations, documentaries and non-English-language films. According to the three filmmakers, the shakeup has raised concerns among fans and those dedicated to film preservation, prompting Warner Bros. Discovery CEO David Zaslav to reassure top filmmakers that, under new leadership, TCM essence will not change.

Director of “Goodfellas” and film preservation leader Martin Scorsese; steven spielbergwas the filmmaker behind numerous Hollywood masterpieces, including Schindler’s List; and Paul Thomas AndersonZaslav, who has directed critically acclaimed films such as “There Will Be Blood,” said in a joint statement that Zaslav contacted TCM about their reorganization.

Scorsese, Spielberg and Anderson said they each took the time to speak with the CEO both individually and collectively, “It’s clear that TCM and classic movies are very important to him. Our number one goal is to make sure TCM’s programming is unaffected and protected.”

“Turner Classic Films has always been more than just a channel. It has truly been a valuable resource for movies, available 24 hours a day, 7 days a week,” the filmmakers said in a statement. “While it was never a financial powerhouse, it It has been a profitable endeavor since its inception.”

“We’re encouraged by the conversations we’ve had so far, and we’re committed to working together to ensure the continuation of this cultural touchstone we all hold dear,” the filmmakers said.

Director Steven Spielberg.

Gilbert Flores | Variety | Getty Images

In April, Spielberg and Anderson discussed film preservation at the Traditional Chinese Medicine Classics Film Festival. Zaslav joined them on stage, According to media reports.

A representative for Warner Bros. Discovery declined to comment on the filmmaker’s statement.

Layoffs this week pretentious Warner Bros. Discovery Channel owns a large portfolio of cable television networks, including Discovery Channel, Investigative Discovery Channel and Food Network.

Warner Bros. and Discovery merge in 2022, creating the largest portfolio of cable networks at a time when many consumers are slashing cable networks by opting for streaming services. Meanwhile, major streaming platforms like Netflix are starting to plateau in subscriber numbers and shift their focus from growth to profitability.

Warner Bros. Discovery has been grappling with the massive debt load of the merger and has been looking for ways to reduce costs. It has already gone through multiple layoffs that will cost thousands of employees their jobs, as well as other measures such as reducing spending on content.

Additionally, the company recently rebranded its flagship streaming service as Max, a combination of its Discovery+ and HBO Max content. The service offers content from its cable networks, including TCM.