Warner Bros. Discovery (WBD) agreed in early December to sell much of its business, including film studios and streaming platforms, to Netflix. Shortly thereafter, Paramount Skydance made an offer directly to shareholders to take over the entire concern, including television channels such as CNN and the Polish TVN. The offer was rejected and the president David Zaslav explained the reasons in a letter to employees. It seems that regardless of who takes over WBD, David Zaslav will gain millions.
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Warner Bros. Discovery is to be divided into two separate entities: Streaming & Studios, covering streaming platforms and film studios, and Global Networks, focusing on television activities.
See also: New information about the owner of TVN. The takeover offer was rejected
In connection with the reorganization, David Zaslav – the current president of the company – was appointed as the head of Streaming & Studios. Zaslav signed a contract valid until the end of 2030. In addition to the basic salary and bonuses, he was also provided with a significant package of options for company shares: in the first year with a maximum value of USD 15.5 million, and in subsequent years up to USD 7.5 million. annually – writes the website virtualmedia.pl.
A key element of the agreement was the granting of an option to Zaslav on January 2, 2026 to purchase 3.05 million shares of Warner Bros. Discovery. According to the agreement, if the share price on that day exceeded $10.16, the package would be enlarged – this provision is intended to compensate for the limited potential for further increases if the shares were already highly valued, the portal reports.
Rally in Warner Bros. shares Discovery
Recent months have brought a dynamic increase in the value of Warner Bros. shares. Discovery – quotations increased from approximately USD 12 to as much as USD 30, mainly due to speculations about the potential sale of the concern. As a result, at the close of the session on January 2, the share price was as high as $28.51. Zaslav received options to purchase 3.05 million shares at this price.
In a stock exchange announcement on Wednesday, the company said the board of directors' compensation committee had analyzed ways to compensate the manager for the high share price. Ultimately, it was decided to grant Zaslav additional options for 1.96 million shares, which he could purchase at a price of $10.16. per piece. The package was handed over to the company's head last Monday.
See also: Why does the owner of TVN prefer Netflix? He rejected the offer from the billionaire
The head of Warner Bros. Discovery has huge earnings
Zaslav, 65, was the highest-paid media executive in recent years. In 2024, his salary increased to $51.9 million, including a cash bonus of $23.9 million. and $23.1 million. in the form of performance-based restricted stock awards – even though Warner Bros. Discovery reported a loss of $11.5 billion this year. – writes variety.com
In 2021, as CEO of Discovery Communications, he received an astonishing compensation package of $246.6 million. (including stock options worth $203 million).
Source: Wirtualne Media, variety.com
