WarnerMedia CEO Jason Kilar is leaving the company ahead of the imminent close of its merger with Discovery, which could happen as soon as Monday.
“With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company,” Kilar wrote in a staff memo. “There are many feelings one could have in a moment like this, but for me there are none bigger, or more lasting, than the feelings of gratitude and love that I have for this team, this company and this mission.”
He continued, “I’ve never been more fulfilled professionally. I’ve never been happier professionally. This team—and what we’ve built together—are the reasons for that.”
Kilar’s future at the company had been widely speculated upon since the WarnerMedia-Discovery merger was first announced last May. Discovery chairman and CEO David Zaslav, who will lead what will be called Warner Bros. Discovery, had been noncommittal about Kilar, and most assumed that he would not be part of the new company.
“Leading this team has been the honor of my lifetime,” Kilar wrote. “My heart is so full, and I am beyond thankful to each of you. There is no better team on the planet, and I will savor every last step as I wander the lot in Burbank several more times this week, with this team on my mind, always.”
Kilar’s exit is the first of many expected as the WarnerMedia-Discovery deal prepares to cross the finish line. The two companies say the merger will provide $3 billion in cost savings, which means that significant layoffs are likely in the coming weeks and months.
On March 11, Discovery shareholders voted to approve the merger with WarnerMedia, which was the last major hurdle standing in the way of the union. At the time, Discovery said the deal is expected to close early in the second quarter, with sources eyeing a likely April date, as early as Monday.
Kilar’s WarnerMedia tenure
The former Hulu CEO joined WarnerMedia as CEO in May 2020, weeks before the company debuted its HBO Max streaming service. That August, he overhauled the executive ranks, forcing out Bob Greenblatt (chairman of WarnerMedia Entertainment and Direct-to-Consumer) and Kevin Reilly (who oversaw TNT, TBS and truTV and was chief content officer of HBO Max).
Kilar also rattled Hollywood when he announced that all 2021 Warner Bros. movies would debut on HBO Max the same day they were released in theaters. The movie added more than 13 million subscribers to HBO and HBO Max’s combined tally last year, growing it to 73.8 million subscribers globally.
More recently, he demanded the resignation of WarnerMedia News and Sports chairman and CNN president Jeff Zucker, after his failure to disclose a “consensual relationship” with his colleague, Allison Gollust, who was then CNN’s evp and chief marketing officer (but also subsequently left the company).
As for what’s next for him after WarnerMedia, “I’m not going to retire and sit on a beach,” Kilar told the Wall Street Journal today. He said he had no immediate plans for his next step, but planned continue focusing on technology, storytelling and innovation.
