Latest news with #WarnerBrosDiscovery
CNN
an hour ago
- Business
- CNN
Warner Bros. Discovery shareholders reject CEO David Zaslav's pay package
Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company's executives, including CEO David Zaslav's compensation package of more than $50 million. Nearly 60% of the symbolic vote was against the 2024 executive payouts at Warner Bros. Discovery's annual meeting, according to a regulatory filing. The vote is non-binding. Last year, shareholders narrowly approved executive pay, with 53% voting in favor. Warner Bros. Discovery is the parent company of CNN. Zaslav, who has been CEO of Warner Bros. Discovery since 2022, when the company was created by the merger of WarnerMedia and Discovery, Inc., was paid a total of $51.9 million last year, including equity awards and other compensation. Warner Bros. Discovery's stock (WBD) declined 7% in 2024, while media competitor Netflix (NFLX) saw its stock gain more than 80% in 2024 and Disney's stock (DIS) rose 24%. Netflix's co-CEOs, Ted Sarandos and Greg Peters, were paid $61.9 million and $60.3 million last year, respectively, while Disney's Bob Iger was paid $41.1 million. The broader S&P 500 gained over 23% last year. Warner Bros. Discovery did not respond to a request for comment.
CNN
2 hours ago
- Business
- CNN
Warner Bros. Discovery shareholders reject CEO David Zaslav's pay package
Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company's executives, including CEO David Zaslav's compensation package of more than $50 million. Nearly 60% of the symbolic vote was against the 2024 executive payouts at Warner Bros. Discovery's annual meeting, according to a regulatory filing. The vote is non-binding. Last year, shareholders narrowly approved executive pay, with 53% voting in favor. Warner Bros. Discovery is the parent company of CNN. Zaslav, who has been CEO of Warner Bros. Discovery since 2022, when the company was created by the merger of WarnerMedia and Discovery, Inc., was paid a total of $51.9 million last year, including equity awards and other compensation. Warner Bros. Discovery's stock (WBD) declined 7% in 2024, while media competitor Netflix (NFLX) saw its stock gain more than 80% in 2024 and Disney's stock (DIS) rose 24%. Netflix's co-CEOs, Ted Sarandos and Greg Peters, were paid $61.9 million and $60.3 million last year, respectively, while Disney's Bob Iger was paid $41.1 million. The broader S&P 500 gained over 23% last year. Warner Bros. Discovery did not respond to a request for comment.
New York Post
4 hours ago
- Business
- New York Post
Warner Bros. Discovery shareholders reject CEO David Zaslav's $52M pay package
A majority of Warner Bros Discovery shareholders voted against the 2024 pay packages of CEO David Zaslav and other top executives at the media conglomerate's annual stockholder meeting, a Tuesday regulatory filing showed. The board of directors had recommended shareholders to vote in favor of the 2024 executive compensation; however, more than 59% of them rejected the proposal on a non-binding basis. For 2024, Zaslav's total compensation rose 4% from the prior year to $51.9 million. For 2024, CEO David Zaslav's total compensation rose 4% from the prior year to $51.9 million. More than 59% of shareholders rejected the proposal on a non-binding basis. REUTERS Warner Bros Discovery has been struggling to stem declines in its cable TV business amid widespread cord-cutting, focusing instead on its faster-growing streaming and studios divisions. Last month, it missed first-quarter revenue estimates and posted a larger-than-expected loss. The company is also moving towards a potential breakup, CNBC reported last month. WBD had laid the groundwork for a possible sale or spinoff of its declining cable TV assets last December by announcing a separation from its streaming and studio operations. Powered by a strong content slate, including the third season of HBO's 'The White Lotus' and the medical drama series 'The Pitt,' WBD added 5.3 million streaming subscribers in the January-March quarter, beating market expectations, but still far off from streaming industry leader Netflix. Warner Bros. Discovery is also moving towards a potential breakup. REUTERS The company last month also walked back on the branding of its streaming service, Max, bringing back the HBO name it dropped two years ago.
Reuters
4 hours ago
- Business
- Reuters
Warner Bros Discovery shareholders reject 2024 executive pay
June 3 (Reuters) - A majority of Warner Bros Discovery (WBD.O), opens new tab shareholders voted against the 2024 pay packages of CEO David Zaslav and other top executives at the media conglomerate's annual stockholder meeting, a Tuesday regulatory filing showed. The board of directors had recommended shareholders to vote in favor of the 2024 executive compensation; however, more than 59% of them rejected the proposal on a non-binding basis. For 2024, Zaslav's total compensation rose 4% from the prior year to $51.9 million. Warner Bros Discovery has been struggling to stem declines in its cable TV business amid widespread cord-cutting, focusing instead on its faster-growing streaming and studios divisions. Last month, it missed first-quarter revenue estimates and posted a larger-than-expected loss. The company is also moving towards a potential breakup, CNBC reported last month. WBD had laid the groundwork for a possible sale or spinoff of its declining cable TV assets last December by announcing a separation from its streaming and studio operations. Powered by a strong content slate, including the third season of HBO's "The White Lotus" and the medical drama series "The Pitt", WBD added 5.3 million streaming subscribers in the January-March quarter, beating market expectations, but still far off from streaming industry leader Netflix (NFLX.O), opens new tab. The company last month also walked back on the branding of its streaming service, Max, bringing back the HBO name it dropped two years ago.
Yahoo
4 hours ago
- Business
- Yahoo
Warner Bros Discovery shareholders reject 2024 executive pay
(Reuters) -A majority of Warner Bros Discovery shareholders voted against the 2024 pay packages of CEO David Zaslav and other top executives at the media conglomerate's annual stockholder meeting, a Tuesday regulatory filing showed. The board of directors had recommended shareholders to vote in favor of the 2024 executive compensation; however, more than 59% of them rejected the proposal on a non-binding basis. For 2024, Zaslav's total compensation rose 4% from the prior year to $51.9 million. Warner Bros Discovery has been struggling to stem declines in its cable TV business amid widespread cord-cutting, focusing instead on its faster-growing streaming and studios divisions. Last month, it missed first-quarter revenue estimates and posted a larger-than-expected loss. The company is also moving towards a potential breakup, CNBC reported last month. WBD had laid the groundwork for a possible sale or spinoff of its declining cable TV assets last December by announcing a separation from its streaming and studio operations. Powered by a strong content slate, including the third season of HBO's "The White Lotus" and the medical drama series "The Pitt", WBD added 5.3 million streaming subscribers in the January-March quarter, beating market expectations, but still far off from streaming industry leader Netflix. The company last month also walked back on the branding of its streaming service, Max, bringing back the HBO name it dropped two years ago.
