David Zaslav Sells $21.7 Million in Warner Stock Amid Paramount Merger Legal Limbo
The Warner Bros. Discovery CEO previously sold $59 million worth of the media giant's stock in July and $114 million in March The post David Zaslav Sells $21.7 Million in Warner Stock Amid Paramount Merger Legal Limbo appeared first on TheWrap .
Warner Bros. Discovery's CEO, David Zaslav, sold $21.7 million worth of the company's stock on Thursday as the merger with Paramount Skydance remains in legal limbo. According to a recent SEC filing, Zaslav traded 773,173 shares of WBD stock, increasing his total sales to $195 million worth of the company's stock. This sale is part of a previously adopted Rule 10b5-1 trading arrangement, which grants him the ability to sell up to 4,572,448 shares of common stock under certain price targets, with a termination date of August 14.
The Paramount-Warner Bros. merger is currently on hold due to a lawsuit filed by 12 state attorneys general who are seeking to block the deal. The trial for the lawsuit is scheduled for March, and the merger is set to be delayed until five days after the trial outcome or June 1, 2027, whichever comes first.
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