Discovery CEO David Zaslav on Archegos fallout hitting the stock

Shares of Discovery fell sharply in late March when family office Archegos Capital Management failed to meet its margin call. Discovery, along with fellow legacy media player ViacomCBS, saw its stock rise rapidly in the first few months of the year, apparently bid upward by the highly levered Archegos. Discovery's class A stock rose from $30 per share at the end of December to $77 per share in mid-March before deflating. Discovery CEO David Zaslav joined "Squawk Box" on Wednesday to discuss.