Warner Bros. Discovery CEO David Zaslav’s pay package tripled to $165 million in 2025

David Zaslav, the CEO of Warner Bros. Discovery, saw his compensation more than triple in 2025 to $165 million. This is thanks to the nearly $110 million in one-time stock options awarded to Zaslav by the WBD board.

David Zaslav's 2025 pay package

The stock option was awarded to him for leading the plan to split WBD into two: Warner Bros., comprising studios and streaming; and Discovery Global, which included its TV networks. The proposed split will now not go ahead due to the pending acquisition of WBD by Paramount.

“Certain of the Committee’s actions in 2025 were designed to support retention and incentivize our pursuit of other strategic options. Although the separation was not completed and the Paramount merger was subsequently approved, certain of these compensation actions remain in effect,” according to WBD’s proxy statement filed with the SEC on Thursday.

According to the SEC filing, in 2025, the compensation package for Zaslav, WBD’s president and CEO, included his $3 million base salary, $22.6 million in stock, a $25.7 million cash bonus, and stock options valued at $109,593,181.

“Mr. Zaslav’s strategic leadership created clear and compelling value for WBD stockholders; from the beginning of 2025 to the time of signing the merger agreement with Paramount, our share price increased 164%, and the consideration of $31.00 per share (plus any applicable ticking fee) in the Paramount merger represents a 147% premium to WBD’s unaffected closing stock price of $12.54 on September 10, 2025,” the company said.

Warner Bros-Paramount deal

Last week, Warner Bros shareholders approved Paramount's $81 billion takeover bid, a move that could reshape Hollywood and the US media landscape. Paramount won a months-long bidding war with Netflix for Warner Bros.

Battle for Warner Bros Discovery

Late last year, Warner rebuffed Paramount’s overtures to instead strike a $72 billion studio and streaming deal with Netflix. Paramount, meanwhile, went directly to shareholders with a hostile bid to take over the whole company, including the cable business that Netflix did not want.

All three companies spent months fighting publicly over who had the better offer on the table. Warner’s board repeatedly backed Netflix’s bid. But eventually, Paramount offered more money and Netflix abruptly bowed out of the race.

What Zaslav gets from the deal

Zaslav had described it as “another key milestone toward completing this historic transaction.”

Under the pay packages proposed to executives, Zaslav could receive up to $887 million if the sale is completed. Proxy advisor ISS had said Zaslav's potential payout was "extremely large".

"Management now faces a twofold challenge: securing (regulatory) approval for the deal and proving it can create long-term value without fuelling concerns around excessive pay," PP Foresight analyst Paolo Pescatore told Reuters.