David Zaslav Sells $59.5 Million in Warner Bros. Discovery Stock

Warner Bros. Discovery CEO David Zaslav sold approximately 2.2 million shares of Series A Common Stock on July 13, 2026, for a total value of $59.5 million. The transaction was executed via a pre-established Rule 10b5-1 trading plan, with shares sold at a weighted average price of $27.22 after being exercised at $10.16 per share. Despite the sale, Zaslav continues to hold 6.9 million shares directly and 18.8 million outstanding stock options.

The stock sale occurred alongside legal challenges to a merger between Warner Bros. Discovery and Paramount Skydance. A coalition of 12 U.S. states, led by California, filed a lawsuit alleging that the acquisition violates antitrust laws.

In response to the legal pressure, Paramount Skydance agreed on July 24 to pause the acquisition process until potentially June 2027. The agreement includes a financial penalty: if the merger is not finalized by the end of September, Paramount Skydance must pay fees to Warner Bros. Discovery shareholders.