David Zaslav Set To Receive A Very Generous Financial Package As Part Of The Warner Bros. Sale
Image Source: The Australian
David Zaslav, president and CEO of Warner Bros. Discovery, is set to receive a “golden parachute” of a severance package in the upcoming merger. Paramount Skydance’s buy-out of Warner Bros. Discovery will lead to a total of $550 million for Zaslav. This package consists of $32.4 million in cash severance, $517.2 million in equity in the combined company, and $44,195 in continued health coverage. In addition to this compensation, Zaslav could also receive additional funds for tax reimbursements. The current estimate is $335.4 million. However, that number depended on a deal closing on March 11. According to IRS rules, that number will continue to decline over time. For example, if the deal closed in 2027, Zaslav would not receive any tax reimbursement payment.
Zaslav isn’t the only one departing Warner Bros. with a golden parachute. The CEO and president of global streaming and games, J.B. Perrette, will receive $142 million, consisting of $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, is set to be compensated with $121.5 million, and CFO Gunnar Wiedenfel will receive $120 million. Gerhard Zeiler, the president of international, is set to receive a package of $70.7 million. Warner Bros. Discovery clarified that the amounts “are estimates based on multiple assumptions…The actual amounts, if any, that may be paid or become payable to directors and executive officers may materially differ from such estimates.” In other words, until the deal is closed, nothing is guaranteed.
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