Warner CEO Zaslav Stands to Gain $887M in Acquisition Payout

Warner Bros. Discovery CEO David Zaslav stands to receive an estimated $887 million in compensation if the company's $110 billion acquisition by Paramount Global and Skydance Media proceeds as planned, according to a recent Securities and Exchange Commission filing.

The deal, announced last month, values Warner Bros. Discovery at $31 per share in cash for all outstanding shares. It follows a competitive bidding process that ended when Netflix withdrew from negotiations in February, paving the way for Paramount Skydance to emerge as the buyer. The transaction is expected to close by the third quarter of this year, pending shareholder approval in early spring and regulatory clearances.

Zaslav's payout, detailed in the March filing, includes $34.2 million in cash severance covering salary continuation and bonuses triggered by the change-in-control provision. It also encompasses $517.2 million in unvested equity awards, such as stock options, restricted stock units, and performance-based units, which would vest upon completion. Additional components are $44,200 in benefits like health coverage reimbursements and an estimated $335.4 million in tax reimbursements under Zaslav's...