David Zaslav, the president and CEO of Warner Bros. Discovery (WBD), is poised to receive a staggering compensation package in connection with the company’s impending acquisition by Paramount Skydance. As part of the deal estimated at $111 billion, WBD disclosed the compensation structures for its top executives, which are aimed at addressing potential severance-related costs due to the merger.
Zaslav’s financial package is composed of $34.2 million in cash severance, $517.2 million in equity in the newly combined entity, and $44,195 for continued health coverage reimbursement, according to a recent filing with the Securities and Exchange Commission (SEC). Additionally, he may benefit from tax reimbursement payments estimated at $335.4 million, calculated based on an assumed deal close on March 11, 2026. However, this figure could decrease significantly over time due to IRS regulations, potentially resulting in no reimbursement if the merger extends into 2027.
The announcement follows Zaslav’s recent sale of $114 million worth of WBD stock, a move that came after Paramount emerged victorious in a highly competitive bidding process for the company.
Other key executives at WBD are also set to benefit from substantial compensation packages. J.B. Perrette, CEO of global streaming and games, is estimated to receive $142 million which includes $18.2 million in cash severance and $123.9 million in equity. Bruce Campbell, chief revenue and strategy officer, is allocated approximately $121.5 million, consisting of $18.8 million in severance and $102.7 million in equity. CFO Gunnar Wiedenfels’ package is pegged at around $120 million, while Gerhard Zeiler, president of international, is set to receive an estimated $82.6 million.
Although these compensation estimates are based on various assumptions, WBD noted that the actual amounts could differ significantly. The company has suggested that the merger is expected to close in the third quarter of 2026. Should this timeline extend, WBD has agreed to pay a “ticking fee” of 25 cents per share to its shareholders for each quarter that the deal is delayed, which would effectively increase the value of the equity received by Zaslav and other executives.
In conjunction with the filing, WBD revealed that substantial fees are also being paid to financial advisers. Allen & Co. will receive a total of $100 million, with specific amounts attached to different milestones throughout the merger process. J.P. Morgan is set to be compensated $90 million, again with portions dependent on various agreements and the pending merger.
In a separate development, WBD reported that on February 18, 2026, it received an unsolicited proposal from a Singapore-based firm, Nobelis Capital Pte. Ltd., that claimed to submit a binding offer to buy WBD shares for $32.50 each in cash. However, the proposal lacked necessary financing evidence or a definitive transaction agreement, leading WBD’s legal and financial advisers to deem it unverifiable.
Following further communications from Nobelis, including threats of legal action unless a “settlement framework” was established within 48 hours, WBD maintained its stance and took no further action regarding the proposal. As of the latest updates, no additional communications from Nobelis had been received by the company.
