David Zaslav is set to receive a compensation package worth more than $550 million when Paramount Skydance completes its acquisition of Warner Bros. Discovery; a payout tied to the $111 billion transaction commonly described as a golden parachute.

On Monday, Warner Bros. Discovery disclosed estimated compensation for its named executive officers related to Paramount’s takeover. Golden parachute compensation typically includes severance, equity grants and other benefits triggered by a merger or change in control.

According to an SEC filing, Zaslav — president and CEO of Warner Bros. Discovery — will receive $34.2 million in cash severance, $517.2 million in equity in the combined company and $44,195 in health coverage reimbursement benefits.

He may also receive additional payments through a tax reimbursement provision in his employment agreement. Warner Bros. Discovery estimated that reimbursement could total $335.4 million, assuming the deal closes on March 11, 2026. The company noted that under IRS rules the amount would decline significantly over time. Current projections from outside tax advisers indicate that if the Paramount–WBD deal closes in 2027, Zaslav would not receive any tax reimbursement payment.

Last month, Zaslav sold $114 million worth of Warner Bros. Discovery stock after Paramount won the bidding war for the company.

The company also disclosed estimated merger-related compensation for other top executives.

J.B. Perrette, CEO and president of global streaming and games, is expected to receive about $142 million, including $18.2 million in severance and $123.9 million in equity.

Chief revenue and strategy officer Bruce Campbell is projected to receive $121.5 million, including $18.8 million in severance and $102.7 million in equity.

Chief financial officer Gunnar Wiedenfels is estimated to receive $120 million, including $6.6 million in severance and $113.1 million in equity.

Gerhard Zeiler, president of international, is expected to receive $82.6 million, including $11.9 million in severance and $70.7 million in equity.

Warner Bros. Discovery stated that the figures are estimates based on multiple assumptions and that the actual amounts paid could differ materially.

Paramount expects the deal to close in the third quarter of 2026. The agreement includes a ticking fee of $0.25 per share for every quarter the transaction remains unfinished after that point, which would increase the value of the equity granted to Zaslav and other executives.

The filing also disclosed payments to financial advisers Allen & Co. and J.P. Morgan.

Warner Bros. Discovery agreed to pay Allen & Co. $100 million in total fees, including payments tied to the now-terminated Netflix deal, the fairness opinion delivered to the board on the Paramount merger agreement, a payment due by Dec. 1, 2026, and a portion contingent on the merger closing.

J.P. Morgan will receive $90 million, including fees tied to the canceled Netflix merger, a payment for its fairness opinion to the board and $40 million contingent on completion of the Paramount deal.

The filing also revealed that on Feb. 18, 2026, Warner Bros. Discovery received an electronic message from Singapore-based Nobelis Capital Pte. Ltd. claiming to submit a binding offer to acquire 100% of the company’s common stock for $32.50 per share in cash.

The proposal included no evidence of financing or a definitive transaction agreement. Nobelis claimed it had placed $7.5 billion in escrow with J.P. Morgan to cover a regulatory termination fee, but Warner Bros. Discovery’s legal and financial advisers were unable to verify that the company controlled significant assets or that the escrow deposit existed.

Because the credibility of the proposal could not be verified and due to limitations in the amended Netflix merger agreement, Warner Bros. Discovery chose not to pursue the offer.

On March 9, Nobelis sent another communication threatening legal action unless Warner Bros. Discovery entered into a settlement framework within 48 hours. The company did not respond and has received no further communication from Nobelis as of the date of the proxy statement.

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