As a seasoned observer of the dynamic world of media and entertainment, I find myself intrigued by the recent stock sales from some of our industry titans. David Zaslav, who masterfully orchestrated the merger of Discovery Communications and WarnerMedia, has made his first significant sale since 2022 – a move that, in my humble opinion, is reminiscent of a maestro stepping back from the podium after a grand symphony.
David Zaslav, CEO of Warner Bros. Discovery, has carried out his initial substantial stock divestment in the entertainment firm since he orchestrated the fusion of Discovery Communications and WarnerMedia about two and a half years back.
As a devoted shareholder, I couldn’t help but notice that, based on a recent SEC disclosure, Zaslav decided to offload over 2.5 million shares from the company at an average price of approximately $11.73 each. This move pocketed him a tidy sum of around $30 million.
The records show that Zaslav “disposed of shares as part of his annual income tax and inheritance/estate management procedures.
Zaslav, of course, remains a major shareholder in the company, with WBD’s last proxy filing showing that he owns nearly 20 million shares. He is also not the only major media CEO to sell recently, with Disney CEO Bob Iger selling more than $41 million in stock just last month.
Similarly to Zaslav’s recent transaction, which marks the first sale since 2022 (excluding minor transactions related to tax implications from stock grants), my first sale also took place after I rejoined Disney in November of last year.
Fox CEO Lachlan Murdoch also sold nearly $5 million in stock at Fox over the summer.
Read More
Sorry. No data so far.
2024-12-18 20:24