Warner Bros. Discovery Bolsters Board with SoFi CEO and IAC Chief

Warner Bros. Discovery, the global media and entertainment powerhouse, has bolstered its board of directors with the appointment of two seasoned executives: Anthony Noto, CEO of SoFi Technologies, and Joey Levin, outgoing CEO of IAC. These appointments, announced on January 14, 2025, follow a comprehensive search process led by the Nominating and Corporate Governance Committee, aided by a leading independent search firm. Noto joined the board on January 8, 2025, while Levin will join on February 1, 2025, and both will stand for election by the Company's stockholders at the 2025 Annual Meeting of Stockholders. With these appointments, the Board will be composed of 13 directors, 12 of whom are independent.

David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery, expressed his enthusiasm about the appointments, stating, "We are pleased to welcome two seasoned executives who will bring valuable insights and expertise to the Board. Both Anthony and Joey are accomplished leaders with considerable experience in relevant industries and exceptional track records of driving growth, innovation, and shareholder value. I look forward to working closely with them as we continue to deliver on key strategic and operational objectives to realize the full potential of Warner Bros. Discovery."

Samuel A. Di Piazza, Jr., Chair of the Board of Warner Bros. Discovery, echoed Zaslav's sentiments, noting that the appointments reinforce the Company's commitment to enhancing its Board with best-in-class leaders. He expressed confidence that Noto and Levin would bring fresh ideas and important perspectives to the Board, helping to evaluate all avenues to deliver significant shareholder value.

Anthony Noto, with his extensive experience in media, technology, and the internet, as well as his tenure at SoFi Technologies, brings a unique perspective to the board. His expertise in digital financial services and product innovation can help Warner Bros. Discovery explore new revenue streams and enhance its offerings in the digital space. For instance, Noto's experience in driving growth and innovation at Twitter and SoFi can be invaluable in helping Warner Bros. Discovery navigate the rapidly evolving media landscape and capitalize on emerging opportunities.

Joey Levin, on the other hand, brings over two decades of experience in digital media and commerce, mergers and acquisitions, and senior leadership. His background at IAC, where he oversaw the constant evolution of the company through organic growth, acquisitions, and spin-offs, can provide valuable insights into strategic partnerships, acquisitions, and divestments. For example, Levin's involvement in the initial IPO and subsequent spin-off of Match Group and the private financing and spin-off of Vimeo demonstrates his ability to create value through strategic transactions. This experience can be particularly useful as Warner Bros. Discovery continues to evaluate all avenues to deliver significant shareholder value.

In conclusion, the addition of Anthony Noto and Joey Levin to Warner Bros. Discovery's board of directors could have a positive impact on the company's valuation and investor sentiment in the long term. Their diverse industry backgrounds, leadership experience, track record of driving growth, and ability to bring fresh perspectives to the board could help Warner Bros. Discovery make better strategic decisions, drive growth and innovation, and ultimately deliver significant shareholder value.