Soon to be former Warner Bros. Discovery chief David Zaslav said goodbye to staffers in a video message on the eve of the company’s merger with Paramount Skydance.
“For me, it’s been a great honor to be alongside all of you. I hope you take pride in what you’ve built, what you’ve created and the role you’ve played in shaping an extraordinary history,” Zaslav said in the video, according to a transcript shared in the media.
“I can’t wait to see what you do in the years ahead. I’m so grateful for all these years at Warner Bros. Discovery,” he added. Zaslav is expected to leave the company once the deal closes.
As TheWrap has previously reported, Zaslav is eligible to receive at least $551.5 million in compensation under the media giant’s pending $110 billion merger with Paramount Skydance, according to a SEC filing.
The total package includes $34,219,178 in cash, $517,204,781 in equity, $44,195 in “perquisites and benefits.” The cash component includes $6 million in salary severance and $28.2 million in bonus severance. Meanwhile, the equity component includes $443,131,800 in options, 60,867,415 in restricted stock units and 13,205,566 in performance-based restricted stock units.
Additionally, Zaslav is eligible to receive a tax reimbursement, though the actual amount will “significantly decline with the passage of time” under IRS rules depending on when the deal closes.
Here’s a transcript of Zaslav’s farewell message:
Hello, everyone. I’m here in the scenic Loft on the Warner Bros. lot in Burbank. For the uninitiated, it might look like an empty room. But people here know what spaces like this can become. For decades, worlds have been built here. Sets have gone up, come down and given way to something entirely different.
If these walls could talk they’d tell stories about extraordinary creativity, craftsmanship and collaboration. They’d tell stories about the people who imagined something that didn’t exist and then found a way to bring it to life. The late nights, the early mornings, the commitment to making something the very best it can be.
That’s what all of you, all around the world, do every day. You start with an idea, and through talent, expertise and an enormous amount of hard work, turn it into something real. Something that connects with people, stays with them and becomes part of their lives. Over the years, you’ve created countless moments just like that. Stories and characters, games and experiences, that became part of our culture. Journalism that helped people understand the world around them. Moments in sports that brought people to the edge of their seats, and at times, a front-row seat to history itself.
But none of those moments happened on their own. Behind every one of those moments is the work, talent and commitment of everyone who does their part to bring it all to life. And that is what matters. Honoring the work that came before us, doing our part to carry it forward and knowing that the work continues.
For me, it’s been a great honor to be alongside all of you. I hope you take pride in what you’ve built, what you’ve created and the role you’ve played in shaping an extraordinary history.
What’s past is prologue. The future waits for each and every one of you. For your spirit, your ingenuity, your creativity and your courage.
I can’t wait to see what you do in the years ahead. I’m so grateful for all these years at Warner Bros. Discovery, for the wonderful experiences creating content, telling stories and getting to know so many of you. Thank you so much.