Warner Bros Discovery CEO David Zaslav anticipates a friendlier environment for deal-making under the incoming Trump administration, opening the door to industry consolidation, he said on Thursday.

Warner Bros. Discovery said Thursday its streaming platform Max added 7.2 million global subscribers in the third quarter. It marked the biggest quarterly growth for the streaming platform since its inception. Max now had 110.5 million subscribers as of Sept.

"Your company is trading like a company that's declining in earnings," said Ben Swinburne, a media-industry analyst with Morgan Stanley during a call between Warner Bros. Discover

Warner Bros. Discovery's Max serves fewer ads per hour compared to other streaming platforms.

The media and entertainment company posted third-quarter earnings of 5 cents a share, when analysts had been expecting a loss.