Zaslav exits with $600M-plus as Paramount closes $110B WBD deal
Former Warner Bros Discovery chief David Zaslav collected more than $600 million in connection with the company's $110 billion sale to Paramount, which closed in early October 2026. The figure makes his exit one of the largest merger payouts in Hollywood history.
Paramount completed its acquisition of Warner Bros Discovery on 6 October, paying cash of $31.01666668 per WBD share, according to a company statement. The deal had been agreed on 27 February 2026 after unanimous approval by WBD's board, filings show, at a headline price of $31.00 per share.
Zaslav's final sum was put at $606 million, Variety reported on 8 October. That included $34.2 million in cash severance and $517.2 million in equity, meaning shares and options whose value rose with the deal price, Deadline reported on 6 October.
He was not alone. Streaming and games chief JB Perrette, finance chief Gunnar Wiedenfels and distribution chief Bruce Campbell each received between $120 million and $150 million. International chief Gerhard Zeiler received around $90 million, taking the five top executives past $1.1 billion combined, Deadline reported on 9 October.
Other payouts included more than $57 million for chief legal officer Priya Aiyar, who joined in February 2025. Former board chair Samuel Di Piazza received $3.1 million, former board member and ex-BET chief Debra Lee received $1.3 million, and former board member Ken Lowe received $18.1 million.
The money spread well beyond the top floor. Nearly half of Warner Bros Discovery's 35,500 staff held equity in the company at the close, up from about 8,500 in 2022. About 500 employees held more than $1 million apiece after share-price appreciation.
For context, earlier filings had put Zaslav's potential golden parachute, meaning pay triggered by a change of control, at up to $886 million. Shareholder adviser ISS had urged investors to back the Skydance deal but vote against that package in April.
What makes this stand out is the scale for rank-and-file holders as well as executives. A merger payout of this size turns years of share awards into cash at once.
David Ellison and Ynon Kreiz announced their chief executive leadership team for the combined Skydance-led group on 5 October, ahead of the final close. Paramount said the completed deal creates a combined studio, streaming and broadcast business.
