Warner Bros. Discovery CEO David Zaslav Sells $60 Million in Stock Amid Paramount Skydance Merger Delays
On July 13, 2026, Warner Bros. Discovery CEO David Zaslav sold approximately 2.2 million shares of company stock worth nearly $60 million, according to an SEC Form 4 filing. The sale was conducted through a pre-established Rule 10b5-1 trading plan, involving the exercise of stock options at $10.16 per share and immediate sale at a weighted average price of $27.22. The transaction occurred on the same day a coalition of 12 U.S. states, led by California, filed an antitrust lawsuit challenging Warner Bros. Discovery's merger with Paramount Skydance. The merger faced further delays on July 24 when Paramount Skydance agreed to pause the acquisition until June 2027 while the lawsuit is addressed. Despite the sale, Zaslav retains nearly 7 million directly-held shares and approximately 18.8 million stock options, indicating continued significant equity exposure. The article notes the sale appears to be a non-discretionary transaction rather than a signal of concern about the merger's outcome.
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