'All American' renewed for eighth and final season
The time has come for a final huddle.
On Monday, the CW announced that All American has been renewed for an eighth and final season, giving fans a chance to say goodbye to the characters they've come to love since the show premiered in 2018.
"How do I condense into just a few words what would be the longest love letter to this show, the fans, the cast, crew, staff, and producers. My heart is so filled with love and gratitude for everyone who helped bring All American to life and kept it going for its historic run," said showrunner Nkechi Okoro in a statement.
Okoro went on to thank executives at Warner Bros Discovery and CW for their support, as well as Brad Schwartz, Channing Dungey, Brett Paul, and Greg Berlanti for their help in bringing the All American franchise to life.
"It is so hard to say goodbye to the thing that you love, but we are so excited we get to do it in the way we envisioned with this final season," Okoro continued. "Thank you to our OG and new generation cast members, our writers, crew and full staff for raising the bar every episode. Thank you to Spencer Paysinger, whose life inspired this epic journey. And thank you to everyone who not only watched the show, but took Spencer James's mantra of 'Dream Big. Stay Real' to heart and were inspired to chase their seemingly impossible dreams. We see you. We salute you. Here's to leaving it all on the field one last time."
Brad Schwartz, President of The CW Network, praised the series as "one of the greatest CW shows of all time," saying it was an honor to "bring it back for one final season to give fans a chance to say a meaningful goodbye to these inspiring characters and this incredible world."
"The series took bold new steps in Season 7, adding exciting new characters to the ones we already love, and viewers truly embraced it all," Schwartz added. "We cannot wait to see the emotion, heart, and magic that Nkechi Okoro Carroll and the entire cast and creative team deliver in giving this story the proper ending it deserves."
Channing Dungey, Chairman and CEO, Warner Bros. Television Group and WBD US Networks, said, "Since the moment All American kicked off, the audience fell in love with these characters and their heartfelt stories. Season 7 provided a rare opportunity to keep this world for the fans while introducing new characters alongside some beloved favorites. I couldn't be more thrilled to see this story continue for an eighth and final season."
Dungey continued, "I know Nkechi and our very talented team of writers and executive producers will deliver something unforgettable. Thank you to Greg and Sarah at Berlanti Productions for their leadership, and to our partners at The CW for this opportunity."All American's final renewal comes a year after its spinoff, All American: Homecoming, aired its third and final season.
Created in the vein of shows like A Different World and The Quad, the series followed Simone Hicks (Geffri Maya) from the flagship series to college, where she strives to reclaim her athletic aspirations of conquering tennis. Homecoming brought the HBCU experience to television and highlighting Black excellence while exploring a formative, pivotal moment in a young person's life.
All American's final season will air 13 new episodes in 2026.
Read the original article on Entertainment Weekly
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Yahoo
2 days ago
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Warner Bros. Discovery Announces Receipt of Requisite Consents for Proposed Amendments in Cash Tender Offer and Consent Solicitation
NEW YORK, June 16, 2025 /PRNewswire/ -- Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("Warner Bros. Discovery," "WBD," the "Company," "we," "our" or "us") today announced that the Requisite Consents have been received to adopt the Proposed Amendments pursuant to its previously-announced cash tender offers and consent solicitations. Capitalized terms used but not defined in this press release have the meanings given to them in the Offer to Purchase and Consent Solicitation Statement, dated June 9, 2025 (the "Offer to Purchase and Consent Solicitation Statement"). As of 5:00 p.m., New York City Time, on June 13, 2025 (the "Consent Expiration Time"), Tender Instructions and Consent Only Instructions representing the principal amount of Notes as described in the table below had been validly delivered and had not been validly withdrawn or revoked, as applicable. As a result, the Issuers have received the Requisite Consents for the adoption of certain proposed amendments to the Indentures governing the Notes (the "Proposed Amendments"). All Consents delivered (including any Consents deemed delivered through submission of Tender Instructions) and not validly revoked at or prior to the Consent Expiration Time have become irrevocable. Supplemental indentures relating to the Proposed Amendments to the applicable Indentures governing the Notes will be effective upon execution, but will only become operative upon the Settlement Date of the applicable Offer. To be eligible to receive Amended Notes in accordance with the terms of the Offer and Consent Solicitations, Holders should not withdraw their Tender & Consent Instructions. A Consent Only Instruction can only be withdrawn to re-submit as a Tender Instruction in accordance with the procedures of relevant Clearing System; and any such change in instruction will lead to a loss in eligibility for receipt of Amended Notes, if applicable. Notes which are subject to a Consent Only Instruction in Pool 6 have been blocked and will continue to be blocked in the relevant account in the relevant Clearing System to enable the delivery of Amended Notes to the applicable holders on the applicable Settlement Date. Tender Offers / Consent Solicitations Issuer Title of Security CUSIP No./ Common Code& ISIN AggregatePrincipalAmountOutstanding Aggregate Principal Amount of Notes with Consents Delivered(1) Percentage of Outstanding Notes with Consents Delivered(2) Consent Payment(3) Pool 1 Notes DCL 4.900% Senior Notes due 2026 25470DAL3 / US25470DAL38 $650,000,000 $516,541,000 79.47 % $2.50 1.90% Senior Notes due 2027 111729824 / XS1117298247 €600,000,000 €463,042,000 77.17 % €6.48 WMH 3.755% Senior Notes due 2027 55903VBA0 / US55903VBA08 55903VAG8 / US55903VAG86 U55632AD2 / USU55632AD24 $4,000,000,000 $3,780,983,000 94.52 % $5.29 Pool 2 Notes WMH 4.302% Senior Notes due 2030 282180553 / XS2821805533 €650,000,000 €581,609,000 89.48 % €33.21 4.693% Senior Notes due 2033 272162115 / XS2721621154 €850,000,000 €773,539,000 91.00 % Pool 3 Notes DCL 3.950% Senior Notes due 2028 25470DAR0 / US25470DAR08 $1,700,000,000 $1,554,607,000 91.45 % $21.87 4.000% Senior Notes due 2055 25470DBL2 / US25470DBL29 25470DBK4 / US25470DBK46 U25478AH8 / USU25478AH87 $404,843,000 $387,432,000 95.70 % $10.45 4.650% Senior Notes due 2050 25470DBH1 / US25470DBH17 $302,548,000 $293,267,000 96.93 % $10.32 5.200% Senior Notes due 2047 25470DAT6 / US25470DAT63 $604,594,000 $539,113,000 89.17 % $11.21 5.300% Senior Notes due 2049 25470DBG3 / US25470DBG34 $279,031,000 $264,963,000 94.96 % $10.53 4.875% Senior Notes due 2043 25470DAJ8 / US25470DAJ81 $219,974,000 $142,017,000 64.56 % N/A 4.95% Senior Notes due 2042 25470DAG4 / US25470DAG43 $225,508,000 $130,643,000 57.93 % 5.000% Senior Notes due 2037 25470DAS8 / US25470DAS80 $548,132,000 $454,862,000 82.98 % 6.350% Senior Notes due 2040 25470DAD1 / US25470DAD12 $664,475,000 $443,656,000 66.77 % Pool 4 Notes WMH 4.279% Senior Notes due 2032 55903VBC6 / US55903VBC63 55903VAL7 / US55903VAL71 U55632AF7 / USU55632AF71 $5,000,000,000 $4,649,260,000 92.99 % N/A 5.391% Senior Notes due 2062 55903VBF9 / US55903VBF94 55903VAS2 / US55903VAS25 U55632AJ9 / USU55632AJ93 $3,000,000,000 $2,947,115,000 98.24 % $10.18 5.141% Senior Notes due 2052 55903VBE2 / US55903VBE20 55903VAQ6 / US55903VAQ68 U55632AH3 / USU55632AH38 $7,000,000,000 $6,901,635,000 98.59 % $10.14 5.050% Senior Notes due 2042 55903VBD4 / US55903VBD47 55903VAN3 / US55903VAN38 U55632AG5 / USU55632AG54 $4,301,142,000 $4,122,557,000 95.85 % N/A Pool 5 Notes (Subject to Tender Offer and Consent Solicitation) (4) TWI 8.30% Discount Debentures due 2036 887315AZ2 / US887315AZ25 $155,992,000 $150,123,000(5) 96.24 % $20.00 6.85% Debentures due 2026 887315BB4 / US887315BB48 $16,557,000 $14,981,000(5) 90.48 % $20.00 Pool 6 Notes Consent Solicitation Only DCL 4.125% Senior Notes due 2029 25470DBF5 / US25470DBF50 $750,000,000 $662,268,000 88.30 % $22.08 3.625% Senior Notes due 2030 25470DBJ7 / US25470DBJ72 $1,000,000,000 $917,517,000 91.75 % WMH 4.054% Senior Notes due 2029 55903VBB8 / US55903VBB80 55903VAJ2 / US55903VAJ26 U55632AE0 / USU55632AE07 $1,500,000,000 $1,364,619,000 90.97 %(1) Represents the sum of (i) the aggregate principal amount of Notes for which Tender Instructions had been validly delivered (and for which Consents had been deemed to be validly delivered) and not been validly withdrawn as of the Consent Expiration Time and (ii) if applicable, the aggregate principal amount of Notes for which Consent Only Instructions had been validly delivered and not been validly revoked as of the Consent Expiration Time. (2) Represents the percentage of the aggregate principal amount of Notes for which Consents had been validly delivered and not been validly revoked as of the Consent Expiration Time. (3) Reflects the Consent Payment (rounded to the nearest cent) with respect to each $1,000 principal amount of Dollar Notes or €1,000 principal amount of Euro Notes. No separate Consent Payment is payable with respect tenders of DCL's 5.000% Senior Notes due 2037, DCL's 6.350% Senior Notes due 2040, DCL's 4.95% Senior Notes due 2042, DCL's 4.875% Senior Notes due 2043, WMH's 4.279% Senior Notes due 2032 or WMH's 5.050% Senior Notes due 2042. (4) Represents each series of TWI's Notes subject to the Consent Solicitations. The remaining series of TWI's Notes in Pool 5 have not been presented in this table, but such Notes can still be tendered in the applicable Offers pursuant to the terms and conditions set forth in the Offer to Purchase and Consent Solicitation Statement. (5) For the Notes subject to a Consent Solicitation in Pool 5, a Consent Payment is only payable with respect to Consent Only Instructions that had been validly delivered and not been validly revoked as of the Consent Expiration Time. As of the Consent Expiration Time, Consent Only Instructions had been validly delivered and not been validly revoked with respect to (i) $22,630,000 in aggregate principal amount of TWI's 8.30% Discount Debentures due 2036 and (ii) $15,000 in aggregate principal amount of TWI's 6.85% Debentures due 2026. Holders of Tendered Consent Fee Eligible Notes that validly tendered and did not validly withdraw their Tender Instructions at or prior to the Consent Expiration Time are eligible to receive a Consent Payment. Additionally, Holders of the Notes that validly delivered and did not validly revoke Consent Only Instructions at or prior to the Consent Expiration Time are eligible to receive a Consent Payment. The Offers and Consent Solicitations are being made pursuant to the terms and subject to the conditions set forth in the Offer to Purchase and Consent Solicitation Statement. Our obligation to accept for purchase, and to pay for, Notes validly tendered and not validly withdrawn, and Consents validly delivered and not validly revoked, pursuant to an Offer is conditioned upon certain conditions as described in the Offer to Purchase and Consent Solicitation Statement, including a Financing Condition. Each Offer will expire at 5:00 p.m., New York City time, on July 9, 2025, unless extended by us in our sole discretion or earlier terminated (the "Expiration Time"). To be eligible to receive the applicable Total Consideration, which is inclusive of the Early Tender Premium, holders of Notes must validly tender their Notes and not validly withdraw their Notes at or prior to 5:00 p.m., New York City time, on June 23, 2025, unless extended by us in our sole discretion or earlier terminated (the "Early Tender Deadline"). Holders who validly tender their Notes after the Early Tender Deadline and before the Expiration Time will be eligible to receive the applicable Tender Offer Consideration per $1,000 or €1,000, as applicable, of principal amount of Notes tendered by such holders that are accepted for purchase, which is equal to the applicable Total Consideration minus the Early Tender Premium. The Issuers intend to exercise their Early Settlement Right and (i) settle all Notes validly tendered and not validly withdrawn on or prior to the Early Tender Deadline and accepted for purchase, and (ii) pay for Consents validly delivered and not validly revoked prior to the Consent Expiration Time, on June 30, 2025, subject to the satisfaction or waiver of the conditions (other than the Requisite Consent Condition) specified in the Offer to Purchase and Consent Solicitation Statement. Each Issuer will settle payments on the Final Settlement Date with respect to (i) tenders of any Notes validly tendered and not validly withdrawn prior to or at the Expiration Time that have not previously settled on the Early Settlement Date, if any, and which are accepted for purchase, and (ii) Consents validly delivered and not validly revoked prior to the Consent Expiration Time to the extent not previously settled on the Early Settlement Date, if any. The Final Settlement Date will be a date that is promptly after the Expiration Time and is currently expected to occur no earlier than the fourth business day following the Expiration Time. The complete terms and conditions of the Offers and Consent Solicitations are set forth in the Offer to Purchase and Consent Solicitation Statement, along with any amendments and supplements thereto, which holders are urged to read carefully before making any decision with respect to the Offers and Consent Solicitations. The Issuers have retained J.P. Morgan Securities LLC and J.P. Morgan Securities plc to act as the Lead Dealer Managers (the "Lead Dealer Managers"), and Evercore Group L.L.C. to act as Co-Dealer Manager (together with the Lead Dealer Managers, the "Dealer Managers") in connection with the Offers and Consent Solicitations. Kirkland & Ellis LLP is serving as legal counsel to the Issuers and Simpson Thacher & Bartlett LLP is serving as legal counsel to the Dealer Managers. Copies of the Offer to Purchase and Consent Solicitation Statement may be obtained from D.F. King (the "Tender and Information Agent"), by phone at +1 (212) 931-0845 (banks and brokers) or +1 (800) 848-3410 (all others), by WBD@ or at Questions regarding the Offers may also be directed to the Lead Dealer Managers as set forth below: Lead Dealer Managers: J.P. Morgan Securities LLC As Sole Lead Dealer Manager for the Dollar Notes J.P. Morgan Securities plc As Sole Lead Dealer Manager for the Euro Notes 383 Madison AvenueNew York, New York 10179 Collect: +1 (212) 834-4087 Toll-Free: +1 (866) 834-4666 Attn: Liability Management Desk 25 Bank Street Canary Wharf London E14 5JP United Kingdom Collect: +44 20 7134 2468 Attn: EMEA Liability Management Desk This press release must be read in conjunction with the Offer to Purchase and Consent Solicitation Statement. This press release and the Offer to Purchase and Consent Solicitation Statement contain important information which should be read carefully before any decision is made with respect to the Offers and Consent Solicitations. You are recommended to seek your own legal, business, tax or other advice, including as to any tax consequences, immediately from your broker, bank manager, solicitor, accountant or other independent financial or legal advisor. Any individual or company whose Notes are held on its behalf by a broker, dealer, bank, commercial bank, trust company or other nominee or intermediary must contact such entity if it wishes to participate in the Offers and Consent Solicitations. None of the Issuers, the Tender and Information Agent or any of the Dealer Managers, nor any director, officer, employee, agent, legal counsel or affiliate of any such person, is acting for any holder of Notes, or will be responsible to any holder of Notes for providing any protections which would be afforded to its clients or for providing advice in relation to the Offers and the Consent Solicitations, and accordingly none of the Tender and Information Agent or any of the Dealer Managers, nor any director, officer, employee, agent, legal counsel or affiliate of any such person, assumes any responsibility for the accuracy of any information concerning any of the Issuers, the Company or the Notes or any failure by any of the Issuers to disclose information with regard to the Issuers, the Company or the Notes which is material in the context of the Offers and the Consent Solicitations and which is not otherwise publicly available. Subject to any restrictions under the Indentures following the adoption of the Proposed Amendments, and any limitations under the terms of the Junior Lien Exchange Notes (if issued), the Company or any of its subsidiaries or affiliates, including the Issuers, may from time to time following the Expiration Time acquire any Notes that remain outstanding in the open market, in privately negotiated transactions, through one or more additional tender offers, one or more exchange offers or otherwise, or may redeem Notes pursuant to the terms of the Indentures governing the Notes. Any future purchases or redemptions may be on the same terms or on terms that are more or less favorable to holders of Notes than the terms of the Offers. Any future purchases or redemptions by the Company or any of its subsidiaries or affiliates will depend on various factors existing at that time. There can be no assurance as to which, if any, of these alternatives (or combinations thereof) the Company or any of its affiliates will choose to pursue in the future. The effect of any of these actions may directly or indirectly affect the price of any Notes or Amended Notes that remain outstanding after the consummation or termination of the Offers. This press release is neither an offer to purchase nor a solicitation of an offer to sell any securities. The Offers and the Consent Solicitations are being made only by, and pursuant to the terms of, the Offer to Purchase and Consent Solicitation Statement. The Offers and the Consent Solicitations do not constitute an offer to buy or the solicitation of an offer to sell Notes in any jurisdiction in which such offer or solicitation is unlawful. The Offers and the Consent Solicitations are void in all jurisdictions where they are prohibited. In those jurisdictions where the securities, blue sky or other laws require the Offers and the Consent Solicitations to be made by a licensed broker or dealer, the Offers and the Consent Solicitations shall be deemed to be made on behalf of the Issuers by the Dealer Managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction. None of the Issuers, the Tender and Information Agent, the Dealer Managers or any trustee for the Notes is making any recommendation as to whether holders should tender Notes or deliver their Consents in response to the Offers and the Consent Solicitations. Holders must make their own decision as to whether to tender any of their Notes (and, if so, the principal amount of Notes to tender) and/or deliver Consents. About Warner Bros. Discovery: Warner Bros. Discovery (Nasdaq: WBD) is a leading global media and entertainment company that creates and distributes the world's most differentiated and complete portfolio of content and brands across television, film and streaming. Available in more than 220 countries and territories and 50 languages, Warner Bros. Discovery inspires, informs and entertains audiences worldwide through its iconic brands and products including: Discovery Channel, discovery+, CNN, DC, Eurosport, HBO, Max, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, MotorTrend, Animal Planet, Science Channel, Warner Bros. Pictures, Warner Bros. Television, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español, Hogar de HGTV and others. For more information, please visit Cautionary Statement Regarding Forward-Looking Information This press release contains certain "forward-looking statements." Forward-looking statements include, without limitation, statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future, and can be identified by forward-looking words such as "anticipate," "believe," "could," "continue," "estimate," "expect," "intend," "may," "should," "will" and "would" or similar words. These forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties and on information available to the Company as of the date hereof. Forward-looking statements include, without limitation, statements about the timeline and terms of the Offers and the Consent Solicitations, the future company plans, objectives, expectations and intentions, and other statements that are not historical facts. Such statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties outside of our control. Among the risks and uncertainties that could cause actual results to differ from those described in the forward-looking statements are risks relating to satisfaction of conditions to the Offers and Consent Solicitations, whether the Offers and Consent Solicitations will be consummated in accordance with the terms set forth in the Offer to Purchase and Consent Solicitation Statement or at all and the timing of any of the foregoing. The Company's actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risks related to the Offers and the Consent Solicitations. Discussions of additional risks and uncertainties are contained in the Company's filings with the Securities and Exchange Commission, including but not limited to the Company's most recent Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. The Company is not under any obligation, and each expressly disclaims any obligation, to update, alter, or otherwise revise any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future events, or otherwise. Persons reading this communication are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. View original content: SOURCE Warner Bros. Discovery, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
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How Is Warner Bros. Discovery's Stock Performance Compared to Other Entertainment Stocks?
Born from a high-stakes 2022 merger, New York-based Warner Bros. Discovery, Inc. (WBD) fused Hollywood grandeur with lifestyle grit, melding CNN, HBO, and TNT with TLC, HGTV, and Discovery Channel. Now a global content titan broadcasting in 50 languages across more than 220 nations, WBD curates culture at scale. Commanding a $26 billion market cap, the company straddles prestige and populism, leveraging deep IP arsenals and cable dominance to navigate streaming wars and media upheaval. Large caps are the market's heavyweights, firms valued at $10 billion or more, built on global reach, strong assets, and brand power. Warner Bros. Discovery fits the mold perfectly. As legacy TV meets digital reinvention, WBD's scale, strategy, and storytelling muscle drive its rise. OpenAI CEO Sam Altman Says 'We Are Heading Towards a World Where AI Will Just Have Unbelievable Context on Your Life' How a Stablecoin Could Absolutely Transform This 'Strong Buy' Dividend King Nvidia's Bringing Sovereign AI to Germany. Should You Buy NVDA Stock Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. WBD may wear a heavyweight belt in media, but its stock has taken some punches, down 16.8% from its 52-week high of $12.70 set last December. Still, it's not entirely on the ropes, edging up 1.7% over the past three months. But that's a far cry from the 11.6% rally posted by the Invesco Dynamic Leisure and Entertainment ETF (PEJ) over the same time frame. However, over the longer term, WBD stock surged 51.2% over the past 52 weeks, outperforming PEJ's 21.1% climb over the past year. WBD shook off its bearish blues with a technical turnaround, after months of choppy drift, the stock pierced above both its 50-day and 200-day moving averages in mid-May. That crossover flipped the script, signaling renewed momentum as bulls regained control and bearish undertones gave way to a cautious but growing optimism on the charts. Warner Bros. Discovery has been living a high-wire act. Despite its heavyweight status, the media giant's latest quarter read like a cautionary tale. Its fiscal Q1 earnings report, released on May 8, was mixed, revealing shrinking revenue and consistent losses. Meanwhile, ad revenue fell, content sales plunged by double digits, and even its streaming and studio arm wasn't spared, dropping to $4.4 billion. Cable's collapse hit hard, but streaming did not save the day either. With rumors swirling of a potential breakup, the pressure to cut through its $38 billion debt pile is more real than ever. Sure, it shaved off $2.2 billion in Q1, but cash reserves also slipped - from $5.3 billion to $3.9 billion - raising eyebrows. Yet, the plot thickened when restructuring efforts and whispers of a leaner, more focused WBD sparked a recent stock rally. Investors caught a whiff of a turnaround, finally seeing beyond the crumbling legacy business to a more agile future. It's still a steep climb, but if WBD plays its cards right - cut costs, push smart content, and court global audiences - it might just turn this script from a tragedy to a long-overdue redemption arc. In the media arena, WBD's been trailing its rival Walt Disney Company (DIS) lately - DIS stock soared 18.6% over the past three months, leaving WBD in the dust. But zoom out, and the tables turn. Over the past year, WBD's double-digit rally actually outpaced Disney's 16.1% climb. Wall Street has not written off WBD just yet. Despite the turbulence, the stock has a consensus 'Moderate Buy' rating from 26 analysts covering WBD. Meanwhile, the average price target sits at $12.62, hinting at a potential 19.4% upside from here. On the date of publication, Sristi Jayaswal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Gizmodo
3 days ago
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David Zaslav Is Getting a Pay Cut
David Zaslav, the unfortunate CEO of the company formerly known as Warner Bros. Discovery (the company, which was once two separate companies but became one, is splitting up again), has often been accused of being bad at his job and, now, it would appear that the people who pay his salary may agree. A new report from Deadline finds that Zaslav is scheduled to receive a sizable pay cut this year. Citing a recent SEC filing, Deadline notes that a new business agreement will 'significantly reduce his target annual compensation, including lowering his annual cash compensation opportunity and reorienting the total pay mix toward long-term incentives.' This shift will 'foster a stronger alignment with stockholders and incentivize sustained, long-term value creation,' the document says. In 2023, Zaslav's compensation package was boosted substantially from what it had been in 2022. Zaslav received a package worth approximately $50 million. That represented a 26.5 percent increase over the preceding year in which he reportedly made a total of $39.2 million. Those payouts paled in comparison to 2021, when Zaslav technically made $246 million from stock options appended to a new, multi-year employment contract with the company. Now, Zaslav will have his wages slashed and capped, so as to better 'align' them with a 'pay-for-performance' model championed by shareholders, a statement from WBD Board Chair Samuel A. Di Piazza Jr. told Deadline. The outlet expounds on Zaslav's new pay thusly: After the separation, Zaslav will have a contract through December 31, 2030, and a base salary of $3 million a year. His target annual cash bonus opportunity will be reduced to $6 million, with the actual payout based on the achievement of performance goals established by Streaming & Studios' compensation committee. The annual bonus payout is subject to a cap of 200% of the target amount. Zaslav will also qualify for annual equity awards following the separation under the Streaming & Studios company's equity incentive plan. The target value of the awards will be $15.5 million in the first year that Zaslav receives an equity grant from Streaming & Studios and will decline to an annual target value of $7.5 million per year thereafter. Zaslav assumed power at Warner Bros. Discovery immediately after the merger between the two, and his strategy (which has often been criticized by consumers and fans alike) was to begin cutting expenses and projects while overseeing a large number of layoffs. The re-splitting of the company has been mocked quite a bit online, though Zaslav has put a happy spin on the development: 'The cultural significance of this great company and the impactful stories it has brought to life for more than a century have touched countless people all over the world,' he said, in a statement associated with the split. 'It's a treasured legacy we will proudly continue in this next chapter of our celebrated history.'
