Warner Bros. CEO testified. Discovery’s David Zaslav said his compensation package will rise to $165 million in 2025, triple the pay package he earned in 2024.
The package was prompted by options awards that were part of a revised employment contract the CEO signed last year, prompting him to pursue a strategic review and split the company, ultimately leading to the sale of WBD to Netflix, and then to Paramount.
His base salary stayed the same at $3 million, his stock awards were flat at $22.6 million, his non-stock incentives rose slightly to $25.7 million, and his other compensation (driven by security and use of private jets) rose to $4 million, but it was his $109.6 million option bonuses that really drove the growth.
Zaslav will receive a $51.9 million compensation package in 2024, driven by higher non-stock incentive plan payouts of $23.9 million and stock awards of $23.1 million.
It’s worth noting that a year ago, WBD stock was trading at less than $9 per share, and now it has a signed deal to sell itself to Paramount for $31 per share, with Zaslav getting much of that credit by provoking a bidding war.
2025 could be Zaslav’s last full year at the top of the entertainment giant, which has signed a deal to sell itself to David Ellison’s Paramount. Paramount says it expects to close the deal this year.
Zaslav will receive a huge golden parachute when this deal is completed, although the exact value will depend on a number of factors. Its value is expected to range between $550 million and $887 million. This package includes the value of stock options he has received over the years.
Meanwhile, most of WBD’s other executives received compensation packages in line with previous years. CFO Gunnar Weidenfels had a $17.7 million package, and Bruce Campbell had a $22.3 million package, both slightly larger than last year.
But with the Paramount deal looming, WBD’s future appears to be set, and the chairman’s letter accompanying the agent’s introduction reflects that.
“Achieving strategic changes of this magnitude requires tremendous dedication from our Board members,” wrote Samuel Di Piazza Jr. “In 2025, our Board and its committees met 65 times. I am grateful to each of my fellow Board members for their commitment throughout this transformative year, and for the work they have done to unlock this significant shareholder value. I also know that I speak for the entire Board in conveying our gratitude to the entire WBD team for what they have accomplished not only in the past year, but over the past four years.” Since the company was founded as Warner Bros. Discovery – you are truly world class.
