Warner Bros. CEO Offloads $113M in Shares Ahead of $31 Takeover Close
Warner Bros. Discovery CEO David Zaslav sold $113 million of shares this week, retaining more than $220 million at the $31-per-share takeover price. Eight executives sold $98 million as the $31 bid—a 150% premium to pre-September levels—secures DOJ clearance while awaiting UK, EU and state approvals for a Q3 close.
1. CEO Share Sale Details
David Zaslav sold $113 million of Warner Bros. Discovery shares this week at prices below the $31 takeover offer, retaining over $220 million in common equity based on that per-share bid.
2. Other Insider Sales
Eight other executives, including CFO Gunnar Wiedenfels, sold a combined $98 million of shares during the same period, indicating broad insider monetization as the acquisition progresses.
3. Takeover Approval Status
Paramount Skydance’s $31-per-share bid, representing a 150% premium over early September levels, has cleared the US Department of Justice and now awaits UK, EU and state regulatory approvals ahead of an expected third-quarter close.
4. Compensation Incentives
The board previously granted Zaslav more than $110 million in stock tied to 2025 strategic and financial targets, with the value of those incentives rising as Warner Bros. Discovery shares increased after takeover reports emerged.