Luis Silberwasser is stepping down as chairman and CEO of TNT Sports as Paramount’s takeover of Warner Bros. Discovery officially closes. Silberwasser told his staff Monday that he will leave once the deal is finalized, according to The Hollywood Reporter.
The $111 billion merger, which creates a combined entertainment, sports and news company under the Skydance name, is set to be signed on Tuesday, Oct. 6, according to The Hollywood Reporter. CNBC first reported Silberwasser’s exit.
The Details Behind Luis Silberwasser’s Exit
Silberwasser shared the news in a memo to staff obtained by The Hollywood Reporter. “When I joined TNT Sports in the summer of 2022, our company, our sports division, and the broader media industry were entering a period of extraordinary transformation,” he wrote. “Since then, we charted a new strategy to grow and redefine TNT Sports while navigating significant change and meaningful headwinds.”
“Despite many challenges, today’s TNT Sports is healthier and stronger than ever,” Silberwasser added. “And by combining with CBS Sports, the new sports division is well positioned to be one of the largest and most exciting portfolios of premium sports rights and distribution platforms.”
Silberwasser also praised the incoming leadership. “I have tremendous respect for our leadership and for the leaders of CBS Sports, who are great colleagues and friends,” he wrote. “I fully support the decision and will do everything I can to be of assistance during the transition.”
What It Means For TNT Sports And Fans
CBS Sports president and CEO David Berson will oversee the merged sports unit once the deal closes, per The Hollywood Reporter. The newly merged division will carry a massive slate of rights: TNT Sports brings baseball, hockey, soccer, a major tennis tournament and Unrivaled, a women’s basketball league, joining CBS Sports’ existing portfolio of the NFL, college football, the PGA Tour and the WNBA.
The combined company will also unify all men’s March Madness rights under one roof and add additional college football and basketball packages, according to the outlet. TNT Sports separately maintains the right to manage NBA digital content through the 2029-30 season under a licensing agreement that resulted from Warner Bros. Discovery’s legal settlement with the league.
For fans, that means the rights to several major sports properties, from the NCAA Tournament to professional baseball and hockey, will now sit within a single, larger sports division rather than split across separate corporate structures.
Background On Silberwasser’s Run At TNT Sports
Silberwasser took over the division, then known as Warner Bros. Discovery Sports, in 2022, also overseeing the company’s Eurosport subsidiary in Europe.
The role marked a return to the Discovery organization for Silberwasser, who previously served as executive vice president and chief content officer for Discovery International before moving to Telemundo and Univision.
He pointed to the partnership between TNT Sports and CBS Sports on the NCAA Tournament as a model for what comes next. “We also have a proven track record of working with CBS Sports on the NCAA Tournament, one of the most successful partnerships in the history of sports media,” Silberwasser wrote. “I am truly excited to see both sports teams build that future together.”
What’s Next
The Paramount-Warner Bros. Discovery merger is scheduled to be signed Tuesday, Oct. 6, according to The Hollywood Reporter. Berson will take the reins of the combined sports division once the deal closes, with Silberwasser staying on during the transition to assist leadership.
Reporting from The Hollywood Reporter contributed to this story.
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