David Zaslav is Poised to Make Bank with Warner Bros.’s Sale
There’s a long time to go before things are settled with Warner Bros. Discovery. Netflix has made an offer to purchase the company. Paramount has made a counter offer, which was rejected by the board, leading to talks of a more hostile direction. Then there’s all of the government hurdles that’ll need to be passed for the deal to be approved.
Steering the company through it all, and since 2022, is David Zaslav. Zaslav has drawn ire from numerous corners of the internet for decisions the company has made under his leadership, such as shelving multiple high profile films.
But, under Zaslav, the company has seen its “value” increase. At one point earlier in the year, the company was trading below $10 a share. Netflix has offered $27.75 per share while Paramount has offered $30.
And Zaslav will make bank if a deal goes through. He will received $30 million in “golden parachute” compensation as well as $537 million in equity, for a total of $567 million in transaction-associated pay.
He isn’t the only one who stands to cash in.
Gunnar Wiedenfels, the current CFO and soon-to-be CEO of Discovery Global, will receive $5 million in cash and $138 million in equity. Chief revenue officer Bruce Campbell stands to net $17.6 million in cash and $120 million in equity, streaming chief JB Perrette will get $17.1 million in cash and $150 million in equity, while international chief Gerhard Zeiler will gain $11.3 million in cash and $83.9 million in equity.
A bidding war, a possibility, would increase the stock value and benefit those individuals even more.
It is reported that Paramount offered Zaslav “hundreds of millions of dollars” in their deal where he’d be co-CEO. Zaslav reported the offer to the Warner Bros. Discovery board saying it wasn’t appropriate.
This is all on top of their normal compensation. Zaslav earned $51.9 million last year, Weidenfels earned $17 million, Campbell was $19.7 million, Perrette was $19.7 million, and Zeiler made $14.8 million, according to filings.
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