Warner Bros Discovery CEO David Zaslav's annual compensation rose nearly 27% to $49.7 million in 2023, a filing with the Securities and Exchange Commission (SEC) showed on Friday.
Warner Bros. Discovery chief executive David Zaslav poses on the red carpet during the Oscars arrivals at the 96th Academy Awards in Hollywood, Los Angeles, California, U.S., March 10, 2024. REUTERS/Aude Guerrucci/File PhotoCEO David Zaslav's annual compensation rose nearly 27% to $49.7 million in 2023, a filing with the Securities and Exchange Commission showed on Friday.
The rise in pay was partly related to the loss-making media conglomerate's decision to align its executive compensation to focus more on debt reduction and free cash flow. Warner Bros Discovery reported an 86% jump in free cash flow to $6.16 billion in 2023, partially because of lower spending during the Hollywood strikes that had paralyzed production for months.a bigger-than-expected quarterly loss in February, pressured by the decline of cable TV, a weak advertising market and the fallout from the Hollywood strikes.
Zaslav received stock awards of $23.1 million in 2023, compared with $12 million in 2022. Shares of the company rose 20% last year.A union coalition for Tenet Healthcare's workers reached a tentative labor deal with the hospital system that included across-the-board raises of 14% over three years for full and part-time workers, the union said on Friday.
RSBI:COMPENSATION BACT BCST BIZ BLR CCOS CMPNY CYCS CYCS08 MDIA MDIA08 MNGISS MPAY PUB PUBL TECH TECH08 TMT TVBCST AMERS US NAMER SUSTAINABLE-BUSINESS BCST1 ENTS PRIVT SHOW SHOW1 NRLIN:OCOR NRLPA:OCOG LEGAL REUTERS-LEGAL MTPIX PXP TOPNWS TOPCMB
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