David Zaslav really loves HBO Max . (You can go ahead and just forget about that whole “Max” era .) On Wednesday, Zaslav called HBO Max “probably” Warner Bros. Discovery ‘s “most important asset.” It is streaming’s unique ability to house entire TV and film libraries that, in his mind, places it above linear assets like HBO, CNN and the Turner Channels. The same goes for WBD’s theatrical distribution business, which also ultimately serves as a feeder system for HBO Max. So I guess that’s what David Ellison is (mostly) paying $111 billion for. One could very reasonably argue that Warner Bros. studios are actually a bit more valuable — the company’s motion picture business is certainly its most iconic asset. (The studio lot is pretty cool too.) But it is actually WBD’s linear networks business that still technically brings in the most money, and then studios, and then streaming. But the times, they are a-changing, and this cable cowboy — the protégé of the actual cable cowboy John Malone, recognizes it.…