David Zaslav sells $59M stock as merger faces lawsuit

Warner Bros. Discovery CEO David Zaslav has filed to sell another $59.47 million in company stock, a move disclosed on Monday, July 13, 2026, as the proposed $111 billion merger of his company with Paramount Skydance faces a major new legal challenge. The sale of approximately 2.18 million shares follows a $114 million stock sale by Zaslav in March, bringing his total cash-out ahead of his planned departure to over $173 million.

The stock transaction was revealed the same day that a coalition of 12 state attorneys general filed an antitrust lawsuit seeking to block the merger. Led by California Attorney General Rob Bonta, the lawsuit argues the combination of the two entertainment giants would reduce competition, leading to higher prices, lower quality, and less content for consumers and movie theaters. In a statement, Bonta said the unlawful merger would harm audiences on every sofa and movie theater seat in the U.S.

Paramount has stated it will vigorously defend the transaction, arguing the lawsuit would shield dominant streaming platforms like Netflix and other technology companies from competition. The company noted the merger has already received clearance from regulators...