-- Extends Zaslav Contract Through End Of 2023 --
NEW YORK, July 18, 2018 /PRNewswire/ -- Discovery, the global leader in real life entertainment, today announced the extension of President and CEO David Zaslav's employment contract through the end of 2023.
Robert Miron, Chairman of Discovery's Board of Directors, said: "A dynamic, creative, and passionate leader, David is a builder and an innovator, laser focused on creating value. This multi-year commitment affirms our confidence in David's leadership, and on behalf of the entire Board of Directors, we are excited for David and his strong management team to drive further success and growth in this next chapter of the new Discovery."
The contract extension provides ongoing management continuity and stability and ensures Zaslav's continued leadership for the next five and a half years. In 2018, Discovery acquired Scripps Networks Interactive, home to top brands including HGTV, Food Network, and Travel Channel, creating a new and enhanced portfolio of the most trusted and deeply loved brands in media. Also in 2018, Discovery signed an unprecedented alliance with the PGA TOUR to create a first-of-its kind international golf service, including global television and multi-platform live rights, outside the United States, to all PGA TOUR media properties.
John Malone, Discovery Director and Chairman, Liberty Media Corporation and Liberty Global, Inc., said: "David has done a masterful job leading and growing Discovery over the last decade. 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. We are lucky to have him."
Term of employment is through December 31, 2023, continuing to make Zaslav a significant, long-term shareholder in Discovery. Zaslav has committed to hold the majority of his equity from stock grants to term, furthering the alignment of shareholder and management interests.
Zaslav said: "I am thrilled. 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."
Zaslav joined Discovery as President and Chief Executive in 2007, following a distinguished career at NBCUniversal.
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Discovery, Inc. (Nasdaq: DISCA, DISCB, DISCK) is a global leader in real life entertainment, serving a passionate audience of superfans around the world with content that inspires, informs and entertains. Discovery delivers over 8,000 hours of original programming each year and has category leadership across deeply loved content genres around the world. Available in 220 countries and territories and 50 languages, Discovery is a platform innovator, reaching viewers on all screens, including TV Everywhere products such as the GO portfolio of apps and Discovery Kids Play; direct-to-consumer streaming services such as Eurosport Player and Motor Trend OnDemand; and digital-first and social content from Group Nine Media. Discovery's portfolio of premium brands includes Discovery Channel, HGTV, Food Network, TLC, Investigation Discovery, Travel Channel, Turbo/Velocity, Animal Planet, and Science Channel, as well as OWN: Oprah Winfrey Network in the U.S., Discovery Kids in Latin America, and Eurosport, the leading provider of locally relevant, premium sports and Home of the Olympic Games across Europe. For more information, please visit https://corporate.discovery.com/ and follow @DiscoveryIncTV across social platforms.