Warner Bros Discovery Bolsters Board with Fintech and Media Veterans
In a strategic move to navigate the rapidly evolving media landscape, Warner Bros Discovery has tapped two seasoned executives to join its board of directors. Anthony Noto, CEO of fintech powerhouse SoFi, and Joey Levin, outgoing CEO of IAC, bring a wealth of experience in driving growth, innovation, and shareholder value.
Restructuring for a Digital Future
As the media giant undergoes a significant restructuring, separating its declining cable TV businesses from streaming and studio operations, the appointments of Noto and Levin signal a commitment to positioning the company for long-term success. The potential sale or spinoff of its TV business looms on the horizon, as more consumers abandon traditional cable subscriptions.
New Additions to the Board
Noto, who joined the board on January 8, and Levin, set to join on February 1, will both be up for election at the company’s 2025 annual stockholder meeting. Levin’s transition from CEO to executive chairman of Angi, a home services unit, marks a new chapter in his career, following a successful tenure at IAC.
Leadership Experience and Expertise
Levin’s impressive track record spans two decades, with senior roles in IAC’s mergers and acquisitions group, operations, and business management teams. He has steered the company through its initial IPO and subsequent spinoffs of Match Group and Vimeo. Noto, appointed CEO of SoFi in 2018, brings four years of executive experience with Twitter (now X), where he served as finance chief and chief operating officer.
A Vote of Confidence
“Both Anthony and Joey are accomplished leaders with considerable experience in relevant industries and exceptional track records of driving growth, innovation, and shareholder value,” said David Zaslav, CEO of Warner Bros Discovery. The appointments come on the heels of Li Haslett Chen’s resignation from the board and nominating and corporate governance committee last month. With these new additions, the board will comprise 13 directors, 12 of whom are independent.
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