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BDT & MSD Partners

Since the start of the WBD journey, according to David Zaslav, the company has paid down $12 billion of debt and is generating “over $5 billion in free cash flow” at the moment.
William D. Cohan • November 12, 2023

Zaz-Adjusted EBITDA

An examination of the hidden green shoots at WBD. Plus, notes on the latest maneuvers at BDT & MSD Partners, and how S.B.F.’s downfall is reverberating through the crypto universe.
William D. Cohan • June 7, 2023
After the Goldman Rush
Last week, Dina Powell-McCormick exited the firm after two tours of duty totaling 16 years.
Dina Powell-McCormick is the latest in a surprisingly high-level cohort of partners exiting the bank. It’s the latest sign of how finance is changing and just how hard it is for Goldman Sachs to be Goldman Sachs.