Warner Bros. Discovery CEO David Zaslav’s 2024 Pay Package Rises to $51.9M

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In 2024, David Zaslav, CEO of Warner Bros. Discovery, received a total compensation package amounting to approximately $51.9 million. This is an increase from his 2023 compensation of around $49.7 million and a significant rise from his earnings in 2022, which were about $39.3 million. The merger between Discovery and WarnerMedia took place in the year 2022.

On Friday, the media company publicly shared the recent salary information of its leading managers in a mandatory government document.

Zaslav’s 4% raise in pay was primarily due to an increase in non-equity incentive plan earnings, which rose from $22.0 million to $23.9 million, as well as a slight uptick in stock awards ($23.1 million) and “other” compensation ($1.9 million).

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The 4% boost in Zaslav’s salary was mainly attributed to a rise in non-equity incentive plan pay (from $22.0 million to $23.9 million), along with slightly higher stock awards and “other” compensation.

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The increase in Zaslav’s compensation by 4% is mostly because of an uptick in non-equity incentive plan payments (from $22.0 million to $23.9 million), a slight rise in stock awards, and additional compensation under the “other” category.

Earlier this morning, it was announced that John Malone would transition to the position of Chair Emeritus, but he will still remain “involved actively.

In 2023, Zaslav’s increase in pay was partly because WBD altered their executive compensation scheme to emphasize cash flow over stock prices. This change coincided with an uptick in WBD’s free cash flow, a portion of which can be attributed to the Hollywood strikes that halted productions for months.

In 2021, David Zaslav, who was then CEO of Discovery, received a substantial remuneration package totaling approximately $246.6 million. This was significantly higher than his earnings in 2020 ($37.7 million) and 2019 ($45.8 million). This significant increase can be attributed to a contract signed in May 2021, which extended Zaslav’s tenure with the company until the end of 2027. The value of this compensation package was augmented by stock options related to the extension, even though these did not result in immediate payments. Instead, most of the compensation is scheduled to be earned over the duration of his employment contract.

Additionally, the regulatory submission from WBD revealed the compensation packages of key executives like Gunnar Wiedenfels (CFO), Bruce Campbell (Chief Revenue and Strategy Officer), and JB Perrette (Streaming and Games Chief).

In the year 2024, Wiedenfels’ compensation slightly increased to approximately $17.1 million, whereas Campbell’s went up from $18.3 million to $19.8 million. Perrette’s package saw a slight decrease from $20.1 million to $19.7 million. Last year, Gerhard Zeiler, WBD’s international president, received a remuneration of $14.8 million, compared to $13.3 million in 2023.

WBD’s virtual shareholder meeting will take place Monday, June 2 at 10 a.m. ET.

Warner Bros. Discovery’s stock dropped 9 percent in 2024, while its financials were mostly lower.

As a devoted admirer, I’m drawn to Robert Fishman’s optimistic stance on WBD shares, as he sees the company as embodying the highs and lows of the media industry in recent years. In a report dated March 10, he expressed that Warner Bros. Discovery might stand as a symbol of ambitions realized and dreams dashed within our sector. The company was formed to capitalize on the revenue streams of a broader cable network portfolio and transition into streaming, but instead, it has faced a steep decline in market value due to its struggles to adapt amid industry shifts and unfortunate setbacks. Investor sentiment towards WBD has fluctuated, yet the stock remains far from its summer lows of 2024 and hasn’t yet fully regained investor trust in its potential future success.

According to the Wall Street expert, three years have passed since the merger was finalized, and now it’s time for WBD to fulfill its commitments regarding profitable direct-to-consumer services, a stable studio business, and a steady decrease at networks. If these goals are not met as anticipated, it may not be long before Warner Bros. Discovery’s valuable assets are owned by someone else.

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2025-04-11 15:54