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Discovery Gives David Zaslav a New Contract Following WarnerMedia Merger Announcement
The vest-wearing CEO will stick around through at least 2027
Tim Baysinger | May 18, 2021 @ 11:43 AM
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One day after its mega-merger announcement with WarnerMedia, Discovery is giving CEO David Zaslav, the man who will lead the newly combined company, a new contract. The deal runs through 2027.
Zaslav’s previous contract ran through 2023.
AT&T announced Monday that it was spinning off WarnerMedia into an independent company that will merge with Discovery Inc.
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The deal, which is expected to close in mid-2022, is subject to regulatory approval and a vote by Discovery shareholders. It will create an entertainment juggernaut that seeks to rival Netflix and Disney, and put the likes of Warner Bros., CNN, Turner and Discovery’s stable of nonfiction networks under one roof along with two competing streaming services, Discovery+ and HBO Max. It also combines WarnerMedia
Getty / Scott Olson
AT&T and Discovery announced plans to spinoff AT&T s WarnerMedia business on Monday.
The deal would see Discovery absorb big-name brands such as HBO, CNN, and film studio Warner Bros.
We ve got the names of the top dealmakers who put the transaction together.
Some of Wall Street s biggest stars were tapped to help hammer out the deal between AT&T s WarnerMedia division and Discovery, which was announced on Monday.
A flashy battalion of big-name bankers from some of the Street s top technology, media, and telecom advisory shops came together to work on the deal, which will create an entity valued at roughly $130 billion including debt. Powerhouse attorneys from white-shoe law firms including Sullivan & Cromwell and Debevoise & Plimpton also helped along the way.
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