Warner Bros. Discovery Shareholders Reject CEO David Zaslav's $886M Pay Package

Warner Bros. Discovery CEO David Zaslav's compensation package, potentially worth up to $886 million tied to the company's merger with Paramount, was rejected by 82% of shareholders in a non-binding vote. The vote occurred during a special shareholder meeting on April 23, 2026, with only 17% of shares approving and 0.5% abstaining. The merger itself received overwhelming support, with nearly 99% of shares voted in favor of the $110 billion deal. The merger is expected to close by September, having received U.S. Department of Justice approval but still under review by EU and UK regulators. State attorneys general may challenge the deal, and over 4,000 people, including Robert De Niro, Sofia Coppola, and Mark Ruffalo, signed a letter opposing it. Critics argue the merger will reduce Hollywood studios and cause layoffs, while Paramount CEO David Ellison promises 30 films annually and creative benefits. Zaslav, who led Discovery Communications for 15 years before acquiring WarnerMedia in 2022, has faced strategic errors and debt issues, though 2025 saw improved performance at Warner film studio and HBO.