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Golden Parachute

All articles tagged with #golden parachute

business1 month ago

Paramount-Skydance bid to buy Warner Bros. Discovery heads to shareholder vote

Paramount Skydance's $31-per-share bid to acquire Warner Bros. Discovery—covering CNN/TNT/Discovery Channel, HBO Max, and the Warner film studio—goes to a shareholder vote, with a $7 billion breakup fee and Netflix termination fee totaling about $2.8 billion. ISS backs the deal for its premium and liquidity, but stops short of supporting CEO David Zaslav's roughly $800 million golden parachute, which includes stock awards and an excise-tax gross-up. The deal, sparked by a bidding war and after Netflix walked away, is expected to close in Q3 pending regulatory approval.

via CNBC|
#business#golden-parachute#merger
Zaslav Could Earn a Record $887 Million Golden Parachute in Warner Deal
business1 month ago

Zaslav Could Earn a Record $887 Million Golden Parachute in Warner Deal

Warner Bros. Discovery CEO David Zaslav could collect up to $887 million in a severance package if the company is acquired by Paramount Skydance in a $111 billion deal, including about $335 million to reimburse excise taxes. The compensation vote is nonbinding while shareholders vote on the sale, which is expected to trigger layoffs and cost cuts as the two studios and TV networks are consolidated. The arrangement has drawn criticism from ISS, highlighting the vast portion of the payout coming from stock vesting and the tax gross-up, amid broader concerns about debt and regulatory scrutiny surrounding the deal.

via Los Angeles Times|
#business#executive-compensation#golden-parachute
ISS Urges WBD Holders to Reject Zaslav’s $550M+ Golden Parachute in Paramount Deal
business1 month ago

ISS Urges WBD Holders to Reject Zaslav’s $550M+ Golden Parachute in Paramount Deal

Proxy adviser ISS recommends Warner Bros. Discovery shareholders vote against CEO David Zaslav’s golden-parachute payout tied to the Paramount Skydance sale, citing a non-market tax gross-up and aggressive equity vesting as windfall risks, even as ISS backs the Paramount merger itself (enterprise value about $111B, closing anticipated in Q3 2026).

via Variety|
#business#david-zaslav#golden-parachute
Proxy Firm Urges Warner Investors to Reject Zaslav’s $886 Million Golden Parachute
business1 month ago

Proxy Firm Urges Warner Investors to Reject Zaslav’s $886 Million Golden Parachute

Institutional Shareholder Services urged Warner Bros. Discovery shareholders to vote down CEO David Zaslav’s golden parachute, calling the package extraordinary and problematic largely due to an excise tax gross-up; while ISS backs the Paramount Skydance sale, the pay is advisory and could still be paid depending on merger timing, with the eventual value likely closer to $600 million as vesting progresses, underscoring governance concerns about executive compensation in big M&A deals.

via The Hollywood Reporter|
#business#david-zaslav#golden-parachute
Zaslav Set for $550M+ Golden Parachute Amid Warner Bros.-Paramount Deal
business2 months ago

Zaslav Set for $550M+ Golden Parachute Amid Warner Bros.-Paramount Deal

David Zaslav is slated to receive more than $550 million in merger-related pay tied to Paramount Skydance’s takeover of Warner Bros. Discovery, including $34.2 million in cash severance and about $517.2 million in equity, plus roughly $335 million in potential tax reimbursements that would decline over time; the filing also lists seven-figure packages for other WBD executives. The total is contingent on deal timing (closing targeted for 2026) and contingencies such as a ticking fee if the merger delays, and WBD cautions that these amounts are estimates that could differ materially. Zaslav recently sold about $114 million of WBD stock, and there was a previously unverified Nobelis Capital bid mentioned in the filing.

via Variety|
#business#david-zaslav#executive-compensation