Warner Bros. Discovery CEO David Zaslav calls Paramount pivot whiplash-y as $110B deal takes shape

Warner Bros.Discovery CEO David Zaslav told rattled staffers that the company’s abrupt pivot to a Paramount Skydance tie-up felt “whiplash-y” — while insisting the media giant had no choice but to bulk up or risk getting steamrolled.“For even us, the speed — it feels a little whiplash-y,” Zaslav said during a Friday morning town hall, adding that executives were still “getting our bearings.” His comments were first reported by Business Insider after the town hall meeting audio was leaked.

Still, he struck an upbeat tone about the blockbuster deal, telling employees, “Together, we can be a great company.” “It’s not easy, but we’re getting bigger, and we’re getting stronger,” Zaslav told his charges on Friday.Zaslav framed the transaction as existential, telling employees: “If Warner Bros.is going to survive, then we needed to be bigger, and we needed to be global.”Zaslav was slated to receive $567.6 million if Warner Bros.

Discovery sold, according to a Forbes report in December.$537.6 million of in equity and $30 million in compensation.

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By clicking above you agree to the Terms of Use and Privacy Policy.Never miss a story The mogul warned that “some of these companies are getting so big that they can just run us over.”He also sounded a note of caution, saying that “the deal may not close,” but added that “if it doesn’t close, we get $7 billion, and we get back to work.”The remarks came as Paramount Skydance emerged as the winning bidder for WBD after Netflix declined to raise its $27.75-per-share offer.

Paramount boosted its bid to $31 per share in cash and agreed to a ticking fee and a $7 billion regulatory termination fee, setting up what could be a roughly $110 billion merger that now faces months of regulatory scrutiny in the US and abroad.T...