Overview
- At the June 2 annual meeting, 59 percent of votes cast opposed the advisory “say-on-pay” measure rejecting Zaslav’s $51.9 million package and other executives’ 2024 compensation.
- Zaslav’s 2024 package comprised a $3 million salary, $23.1 million in stock awards, $23.9 million in non-equity incentive compensation and $1.9 million in other benefits.
- Institutional Shareholder Services recommended a no vote, citing limited board responsiveness to shareholder concerns and an unmitigated pay-for-performance misalignment.
- Warner Bros. Discovery’s revenue fell by 10 percent over the past year, its debt rating was downgraded to junk status and it posted a larger-than-expected first-quarter loss.
- Analysts note the company’s split into Global Linear Networks and Streaming & Studios could pave the way for a breakup or spinoff of its declining cable networks.