Warner Bros. Discovery CEO David Zaslav sells $27.1m in company stock

Warner Bros. Discovery head David Zaslav has sold $27.1 million worth of the company's stock. On August 13 and 14, 2026, he traded 968,172 shares in multiple transactions, with prices between $28.00 and $28.15 per share. The sales were made under a pre-set Rule 10b5-1 trading plan, established in March 2026. The stock had previously surged 136% over the past year, after hitting a 52-week low of $11.25.

Despite the recent sales, Zaslav also exercised employee stock options to purchase 873,266 shares at $10.16 per share, amounting to $8,872,382. These acquisitions were made under a June 2025 grant, with the shares becoming vested over five annual periods starting June 12, 2026. As a result, Zaslav currently owns 6,807,934 shares directly and holds 17,935,634 derivative securities as employee stock options.

Warner Bros. Discovery reported strong second-quarter earnings, earning $0.06 per share, while revenue stood at $8.7 billion, below the anticipated $9.22 billion. The company's streaming revenue reached $3 billion for the first time in a quarter. Meanwhile, the U.K. government has approved the $81 billion acquisition of Warner Bros.

Discovery by Paramount, ensuring editorial independence for the combined entity. Benchmark maintains a Hold rating on the company amid discussions of potential divestitures, including CNN, to address a State AG antitrust lawsuit.