David Zaslav had a good Olympics. The CEO of Warner Bros. Discovery – home of HBO, CNN, Warner Bros. Pictures and the games broadcaster Eurosport – stayed at the Hotel de Crillon in Paris where he entertained Tom Cruise and Barbie director Greta Gerwig at the women’s gymnastics qualifiers, played tennis with John Travolta and hosted an afterhours party at the Louvre with Margot Robbie, Natalie Portman and Jennifer Hudson.

But he had to fly back early. On Wednesday August 9 he admitted to Wall Street at the company’s quarterly results that his television business, which accounts for Warner Bros. Discovery’s profits, are worth $9.1 billion less than…