Warner Bros. Discovery Adds Noto And Levin To Board

Warner Bros. Discovery announced on Tuesday that it has appointed Anthony Noto, CEO of fintech company SoFi, and Joey Levin, the outgoing CEO of IAC, to its board of directors. This move comes as the media conglomerate continues its restructuring efforts, which aim to separate its declining cable TV operations, including CNN, from its growing streaming and studio segments. This strategy sets the stage for potential changes in the company’s TV business, such as a sale or spinoff, as cable subscriptions continue to decline.

Noto officially joined the board on January 8, while Levin is set to come on board February 1. Both executives will be up for election during the company’s 2025 annual stockholder meeting.

Levin, who will step down as CEO of IAC following the spinoff of its majority stake in Angi, a home services company, will take on a new role as executive chairman of Angi. Over the course of his career, Levin has played pivotal roles in IAC’s mergers and acquisitions, operations, and business management teams, contributing to significant milestones such as IAC’s initial IPO and the spinoffs of Match Group and Vimeo.

Noto, who has served as CEO of SoFi since 2018, brings additional experience from his previous executive tenure at Twitter (now X), where he worked as finance chief and later as chief operating officer.

David Zaslav, CEO of Warner Bros. Discovery, praised both Noto and Levin for their “exceptional track records of driving growth, innovation, and shareholder value,” adding that their expertise will be instrumental as the company navigates its transformation.

Additionally, Warner Bros. Discovery disclosed that Li Haslett Chen, a current board member and member of the nominating and corporate governance committee, will be resigning from her positions. Following these changes, the board will consist of 13 directors, with 12 of them being independent.