Warner Bros. Discovery CEO sells 4M shares for $114M after 147.9% surge
Paramount Skydance’s $31 per share bid for Warner Bros. Discovery is set to close in Q3 2026 pending regulatory approval. CEO David Zaslav sold 4,004,149 shares for $114.1 million, leveraging a 147.9% one-year stock gain.
1. Deal Overview
Paramount Skydance emerged as the winning bidder with a $31 per share offer for Warner Bros. Discovery, a transaction that could form a sports content powerhouse but still requires regulatory clearance.
2. Zaslav Share Sale
CEO David Zaslav sold 4,004,149 shares valued at $114.1 million, capitalizing on a 147.9% stock rise over the past year and finally accessing the open trading window.
3. Other Executive Sales
Chief Financial Officer Gunnar Wiedenfels and other senior executives including Lori Locke, JB Perrette, Amy Girdwood, Priya Aiyar and Bruce Campbell also sold shares during the same window.
4. Closing Timeline and Incentives
The merger is projected to close in the third quarter of 2026 subject to regulatory approval; Zaslav still holds unvested equity awards worth $537 million and is entitled to change-of-control benefits.