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The executive “sold shares in connection with year-end income tax and gift/estate planning activities,” per an SEC filing.
By Alex Weprin
Media & Business Writer
Warner Bros. Discovery CEO David Zaslav has made his first significant sale of stock in the entertainment company since he led the merger of Discovery Communications and WarnerMedia two and a half years ago.
According to an SEC filing, Zaslav sold more than 2.5 million shares in the company at an average price of $11.73, netting him just north of $30 million.
The filing notes that Zaslav “sold shares in connection with year-end income tax and gift/estate planning activities.”
Zaslav, of course, remains a major shareholder in the company, with WBD’s last proxy filing showing that he owns nearly 20 million shares. He is also not the only major media CEO to sell recently, with Disney CEO Bob Iger selling more than $41 million in stock just last month.
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Just as Zaslav’s sale is the first since 2022 (putting aside some smaller sales made for tax purposes connected to stock grants), Iger’s was also the first sale since he returned to Disney in Nov. 2022.
Fox CEO Lachlan Murdoch also sold nearly $5 million in stock at Fox over the summer.
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