even a cape crusader can't get warner bro's ceo david zaslav out of this latest pickle. the star of the $100 million film"the flash"making headlines at this hour and the stock is down 7% today alone and charlie breaks it next. closing bell, we're about 15 minutes away. dow is still floundering down around 82 points. do not expect much of a change till tomorrow when we get that all important consumer inflation report for the month of july. tomorrow's final hour is going to be really crucial. set that dvr or join me live. less: first bat girl and now the flash causing more headaches for warner brother's dis-covid ray after its star ezra miller was arrested and charged with felony burglary for stealing alcohol from a residence in vermont. in vermont? moon shine? okay, it's just the latest continuey involving "the flash"lead actor and miller was ayred in hawaii twice this year for assault and facing several allegations of abuse in iceland and berlin. >> iceland? liz: despite miller's brushes with the law, ceo david zaslav said the long awaited flick is still a go and set to

what did you make of david zaslav shocking much of the streaming world and maybe their investors when he declared the era of streaming evangelism is over. you know that business very well. >> i do, thanks for having me on the show. always a pleasure, liz. so, look, streaming is far from dead. streaming is very robustly growing and netflix over 220 million subscribers and disney+ last we saw had 137 million subscribers. hbo max is doing well, paramount plus added subscribers. stream asking a new paradigm for consumers to interact with and consume awesome content, i think it's here to stay. i think warner bro's, david zaslav has his work cut out for him and he'll succeed wildly, but he has a lot of debt, he has linear channels, traditional theatrical business and streaming, all which he has to manage very cohesively and align all those businesses in order to maintain his paying back the debt and growing his dollars, which i'm sure he will. i wouldn't read too much into the statements. liz: when you look at all the subs that netflix for example lost over the past two quarters. the first

ceo david zaslav is moving away from a streams first mindset to focus on boosting wdb theatrical and paid tv businesses. as zaslav puts cash flow over subscribers, paramount saying challenges will affect the media company. the streamers are not doing well. i would argue that's much more on the message that david zaslav put out saying, yeah, with so much competition, the whole streaming picture is being diluted with the ability to monetize it and disney down, netflix down as well. couple of gig economy stocks reporting earnings. door dash shares reversed and much higher earlier and they're down about 2.25% after the food delivery services lost for the second quarter widened due to heavy investments and san francisco based company raise add key annual forecast saying the total value of all app orders and subscriptions will be about $51 billion to $54 billion and stocks are down at the moment. shares of lyft revving higher by 15% after the ride hailing service reported an unexpected quarterly profit and said its ridership is at the highest level since before the pandemic. the company al

the debut report for the media conglomerate since the $43 billion merger, ceo david zaslav announcingy're exploring the free ad-supported service. let's welcome rich greenfield. thank thanks for joining us. is your view on streaming, how has it evolved over the last six months? we're all sort of nodding when we hear what zaslav might do we all knew this was coming, but the world changes quickly as far as technology. >> i think in this case, a little bit of this is sort of like that movie "apollo 13." houston, we have a problem and if you're zaslav, you're looking at at&t and you yare lie oh, my god, i can't believe i bought in these conditions warner bros. discovery is blaming the at&t projections as unreliable, not to mention the overall macro economic environment. so what they're effectively doing, joe, is scrambling to figure out, cash flow has come in well below expectations, they've got a lot of debt. they're trying to find a way to generate dollars, maybe like a pluto or tubi tv, they're looking at a licensing deal with amazon and going back into amazon channels, that's somethin

>> i would point out that david zaslav has to cut about $3 billion in costs and there could be multipleshelf a movie like this yes, they've $90 million they could spend another $200 million to market. he might be angering a lot of people in the creative community. i was hearing a lot about their yesterday in the hollywood world about how frustrated they would be to have a big piece of content never see the light of day. >> i heard all about it. my son is a film junkey and twitter was exploding. they're real i will, really unhappy. and hbo max, some rumors about what happened there as well for content, right, julia? >> well, there have been a lot of rumors flying around about hbo max, but i would just say -- and i'm not going to repeat the rumors, but i would say david zaslav understands the importance of hbo and hbo max. how they end up combining that with discovery and how much they charge for the bundle, we're waiting to hear on that. but i think they very much understand the value of the brand and the premium content that they're so known for in these shows, whether it's succession o

warner bro's dis-covid ray chief david zaslav making good to cut costs at the media giant. management is laying off 70 staffers. the majority of which work in the hbo max department. take ago look at shares of warner bro's discovery. right now the stock is down about 3.33%. chachartly, you ratterred this t week. charlie: yeah, he said we're going to combine these streaming services with discovery -- hbo max. max. cheryl: yeah, it gets confusing. charlie: we're going to talk about disney later. he was going to combine and we report that had a i did before and report that had it would lead to rounds of layoffs and from what we understand, this is the first round. again, from my sources close to the company, there'll be more layoffs, more downsizing, there's going to be an incredible focus on cost here. i mean, one thing that zaslav believed there was too many silos in the old warner media company, the old time warner media. lots of overspending in certain streaming services over there. hbo+, a lot of overspending. cheryl: slow down in advertising for tv. charlie: he's got his

chief david zaslav new streaming strategy. charlie gasparino reporting broke some of that story. but also his cunning strategy too. >> most of the story yesterday on your show. what we reported was that they're going to merge the discovery plus with hbo max, the two major streaming services. they will merge those two together under one entity. there is going to be cost cuts involved in that. i don't believe they're going to give specifics cost cuts and layoffs in this earnings. they will announce the merger but not going to i have get specifics how much they will save but there clearly will be savings. from what i understand of people inside of company, telling fox business network there could be significant layoffs in the coming weeks and months ahead. liz: obviously. >> merging legal departments, merging manment, you're merging tech, you're merging marketing. liz: synergies. >> i hate that word. we keep hearing that. >> job cuts. >> synergies a lot of things. these are the downside of synergies not just cost cutting. he has to save $3 billion worth. some of the interesting stuf

warner brothers discovery ceo david zaslav will detail plans to revamp the company on thursday's earningsall. streaming platforms, hbo max, discovery plus, could lead to significant layoffs. charlie, clearly he has the machete out. >> this is clearly related, the stock is getting a pop off of this, did a long-term chart of discovery. liz: not pretty. >> he is saddled with high debt loads with they merged time warner, what was it called? i forgot the name of it. liz: warner brothers discovery. >> warner something. liz: warner media. >> warner media. when they merged that. liz: how quickly we forget. >> it has been so many iterations merged that with discovery, saddled with a lot of debt, issues with streaming content. first thing we reported he cut was cnn plus. that led to layoffs. what we're hearing there is further restructuring going on here. now it is unclear whether he will name, he will name this big, unfurl this big restructuring tomorrow or he is going, he definitely will be asked about it because analysts have been demanding this. this is what we hear. some combination between th

david zaslav and his colleagues are talking about the addition in an ad free -- in addition to the ad free version, they are seeing an opportunity for a totally free ad supported version of this new streaming service, where they will use that to onboard new subscribers who could potentially pay for another version down the line. they are also referencing that controversial decisions of the $90 million movie may have taken some aggressiv challenges there, they are focusing on possibility. >> for the last few days, you have seen the story and all of the bad news out. this is a lot of news between cnn and -- they are making a lot of changes to a really noisy quarter, but do you think that is what's happening? >> i am just looking at the notes. i took them on the beginning of the early and they said 2022 will be a transition year. they are trying to figure out how to combine the companies concerned and why they'll be disciplined and careful about the rollout. when it comes to the back end and figuring out what they will be doing to run this new combined, it does seem like they are trying

and by the way, what is his boss, discovery ceo david zaslav? what a does he think about all this is you know, the new cnn the same as the old failure left wing fake news.in cnng here with reaction, former florida attorney general pam bondi, along with fox news contributor joe concha. goodha to see you both.et and let's start with you, cnn. all right. so it's no different. i mean, if anybody on this network made a similar comment against a liberal justice, what do you think would happen? you'd be gone and you should be gone. i mean, it's hard news that fox news and that's the difference. you know, these guys are acting like they're auditioning for a spot, the first male spot on the view. it's ridiculous what they're doing. you know, what they did toin justice alito, what he said to justice later. the only thing the guy saidim that was accurate is he's got too much time on his hands. auguste is a slow month. well, you know what? g if it is focused on the good things right now in this world ,talk about our great police officers, talk about our mem

under david zaslav and the new team that's come in from discovery that runs warner bros.this is a focus on a profitable streaming service that is just one part of the company. i think "game of thrones" are the prequel, house of the dragon, this is very much sort of what their bread and butter is this is what they love creating, really quality programming and i think you're going to see them focus on fewer numbers. they're not going to be as broad as they were of about. they're killing some of the reality programming. they're really starting to focus hbo on what you and i, andrew, think of as hbo. >> let me ask you about that part of the strategy is also effectively merging the hbo max experience in that subscription with the discovery plus experience, which has a lot of that reality, and so many of those other programs so in some ways it also feels that they are targeting the netflixs of the world. >> it's just a level of aggression when you think about what they were doing before, the only place you would see content, if you would go on right now, if anyone watching this