David Zaslav to make over $700 million from WBD merger
David Zaslav to make over $700 million from WBD merger
The CEO’s compensation package for closing the deal with Paramount has been revealed, and it’s absolutely massive.
David Zaslav has had a pretty great couple of days. The Warner Bros. Discovery CEO got to see two movies distributed by his studio — “One Battle After Another” and “Sinners” — pile up the Oscar wins on Sunday. Hours later, an SEC filing revealed how much Zas could expect to take home in exchange for closing a deal to merge his company with Paramount Skydance, and the numbers are an eye-popping reminder of how much is at stake in big media deals like this one.
Key Details:
- Cash or check?: Zaslav will enjoy a payout of $711 million from the merger.
- Could go higher: The CEO could earn even more if Paramount doesn’t close the merger on time.
- Nose thumbed: Zaslav gets the last laugh after his tenure as WBD CEO was marred with decisions that alienated some creators.
Zaslav’s pay for shepherding the merger will come out to at least $711.4 million, according to the SEC filing. That number is “based on multiple assumptions that may or may not actually occur or be accurate,” so the final amount could differ somewhat. For example, a daily “ticking fee” will be added to the price of Paramount’s deal if it does not close the merger by Sept. 30, 2026, and some of that money would go directly into Zaslav’s pocket.
The package includes equity valued at over $500 million, more than $100 million in stock options, and other fees and prerequisites. WBD’s annual meeting this summer will allow shareholders to discuss Zaslav’s executive compensation bundle as well, which will, presumably, add to his prodigious earnings for the year.
Zaslav was able to instigate a robust bidding war for WBD in late 2025, and Netflix eventually emerged as the winner. But Paramount Skydance never gave up its attempts to purchase WBD out from under the streamer, and eventually succeeded in presenting a bid that Netflix was unwilling to match.
The windfall gives Zaslav the last laugh over his critics, who have been both belligerent and numerous in his time in the top chair. A content purge in 2023 led creators from all parts of the filmmaking process to denounce Zas, and he’s dipped his toe in controversy plenty of times since.
There probably won’t be a meaningful role at WBD for the CEO after he completes the merger process with Paramount, but his parachute couldn’t be more golden. A payout of over $700 million is on the way for Zaslav, his reward for maximizing the value of WBD as his final major act with the company.
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