Zaslav Collects $606.1M From Warner Bros. Discovery Sale to Paramount Skydance

David Zaslav, the outgoing president and CEO of Warner Bros. Discovery, received $606.1 million from the company's sale to Paramount Skydance Corp., according to Variety. Stock options accounted for about $381.7 million and shares for roughly $224.4 million, The Wrap reported. The payout followed the Oct. 6 closing of Skydance's acquisition, under which WBD shareholders received $31.01666668 per share in cash. An SEC filing dated Oct. 8 disclosed the terms for Zaslav's holdings. Zaslav also sold about $195 million in WBD stock ahead of the close, across March, July, and August, under a Rule 10b5-1 plan. Nearly 15 million options expired worthless because their exercise prices exceeded the deal price. WBD shareholders voted against golden parachute packages for Zaslav and other named executives in a non-binding vote; his severance terms were not disclosed. The combined company, now named Skydance and led by Co-CEOs David Ellison and Ynon Kreiz, carries about $80 billion in debt and claims more than 200 million streaming subscribers.