Will Trump's deregulation mean more media mergers? Warner Bros. Discovery weighs in

Warner Bros. Discovery’s Zaslav sees Trump’s presidency as a chance to accelerate “needed” media consolidation.

Warner Bros. Discovery (WBD) CEO David Zaslav voiced optimism about president-elect Donald Trump’s potential impact on the media industry, specifically regarding consolidation opportunities.

During WBD’s third-quarter earnings call, Zaslav suggested Trump’s presidency could enable policies that facilitate mergers and acquisitions (M&A), which he described as "a real positive" for strengthening the media sector.

“We have an upcoming new administration,” Zaslav remarked. “It’s too early to tell, but it may offer a pace of change and an opportunity for consolidation that may be quite different. That would provide a real positive and accelerated impact on this industry that’s needed.”

With Trump anticipated to take a more deregulatory approach compared to President Biden’s administration, analysts predict a rise in M&A activity. Many speculate Trump’s policies will encourage larger-scale deals in the media landscape, enabling companies to grow and improve consumer experiences, a concern Zaslav reiterated on the call.

Zaslav, a vocal advocate for industry consolidation, has consistently argued that the growing fragmentation of streaming platforms creates a confusing consumer experience. “Consumers turn on a TV set and see 16 apps, each with different pricing,” he said. “It’s just not a good consumer experience. It’s not sustainable.” He also noted the importance of consolidation to strengthen the media industry, enabling it to provide higher-quality content and streamline user interaction.

Earlier this year, Zaslav mentioned that WBD would remain “opportunistic” in seeking M&A deals, hinting at further consolidation over the next few years.