Zaslav leaves Warner Bros. as Paramount merger brings a €474 million payout
David Zaslav has bid farewell to Warner Bros. Discovery staff ahead of its merger with Paramount Skydance, expected to close on 6 October, according to Variety. He is set to leave with at least €474 million in compensation, while staff face uncertainty over potential job cuts, The Hollywood Reporter reports.
Bottom line — The merger’s close ends Zaslav’s tenure and leaves Warner Bros. staff facing an uncertain transition.
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Variety says Zaslav’s three-minute farewell video praised employees’ creativity and their work across films, journalism, games and sport.
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TheWrap reports Zaslav is eligible for at least €474 million ($551.5 million) in compensation, mostly equity, under the merger terms.
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The Hollywood Reporter says employees at the Burbank lot were anxious about the deal and the prospect of thousands of layoffs; one executive called the video “tone deaf”.
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Cartoon Brew describes cuts during Zaslav’s tenure that included layoffs, cancelled projects and the consolidation of Cartoon Network Studios with Warner Bros. Animation.
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Cartoon Brew says Warner Bros. later allowed Coyote vs. Acme to be sold, and Ketchup Entertainment released it theatrically this year.