8/103 sources · 3 publishersUpdated Oct 8, 16:48 UTC
Warner Bros. Discovery CEO David Zaslav bids farewell as Paramount‑Skydance merger closes
Warner Bros. Discovery chief David Zaslav recorded a video message for staff on the eve of the company’s sale to David Ellison’s Paramount‑Skydance, which is slated to close on Oct. 6. The merger, valued at $110 billion, will create the new Skydance Corp. Zaslav will exit the business with a large severance package that includes cash, equity and other benefits.
Why it matters
The transaction will deliver a $31 per share cash distribution to WBD shareholders, ending the company’s public listing. The SEC filing shows Zaslav’s exit compensation totals at least $551.5 million, which could affect the net proceeds available to shareholders.
Key facts
- 1The merger between Warner Bros. Discovery and Paramount‑Skydance is scheduled to close on Oct. 6, 2026. variety.com
- 2The deal is valued at $110 billion. thewrap.com
- 3Shareholders will receive a cash payout of $31 per share, with the stock closing at $30.95 on the final trading day. deadline.com
- 4Zaslav’s exit package includes $34,219,178 in cash, $517,204,781 in equity and $44,195 in perquisites and benefits. thewrap.com
- 5The cash component contains $6 million in salary severance and $28.2 million in bonus severance. thewrap.com
- 6The equity component comprises $443,131,800 in options, 60,867,415 restricted stock units and 13,205,566 performance‑based restricted stock units. thewrap.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.