David Zaslav's Emotional Farewell to Warner Bros. Discovery Staff Ahead of Skydance Merger

A Legacy of Creation: Celebrating Shared Achievements and Embracing the Future

A Leader's Reflective Departure Amidst Corporate Evolution

After steering Warner Bros. Discovery through four and a half years since its inception, David Zaslav, the outgoing President and CEO, has communicated a personal farewell to his team. This comes in anticipation of the imminent merger with David Ellison's Paramount, which will lead to the formation of Skydance Corp., a new media powerhouse that will shoulder substantial financial obligations. The merger is slated for completion on October 6th, marking Zaslav's official departure.

A Digital Goodbye: Zaslav's Heartfelt Message to His Employees

In a private video shared internally with Warner Bros. Discovery staff, Zaslav offered his sincere appreciation for their commitment and creative endeavors. The three-minute message, accessible solely via the company's internal network and reviewed by sources, captured Zaslav seated in a director's chair within the Loft warehouse at Warner Bros. Studios' Burbank Ranch facility, underscoring a sense of professional intimacy and reflection.

Honoring Collaborative Spirit: The Essence of Storytelling

Zaslav articulated profound gratitude for the opportunity to work alongside such a talented group, acknowledging their pivotal role in crafting the company's distinguished history. He encouraged employees to take immense pride in their collective contributions, emphasizing the significance of their work in shaping an extraordinary legacy. The video montage showcased a wide array of Warner Bros. Discovery’s acclaimed productions, from cinematic blockbusters like “Barbie” and “Dune” to popular television series such as “Friends” and “House of the Dragon,” alongside news coverage from CNN and various sports programs, highlighting the diverse impact of their content.

Looking Ahead: A Future Forged by Creativity and Innovation

Expressing eagerness for the future endeavors of the company's talent, Zaslav underscored his appreciation for his tenure at Warner Bros. Discovery, cherishing the rich experiences of content creation, storytelling, and forging connections with countless individuals. He conveyed optimism for what lies ahead, urging the workforce to harness their ingenuity, creativity, and courage as they embark on new ventures.

A Golden Parachute and a Financial Turnaround

Zaslav, recognized as one of the media industry's highest-paid executives, received a compensation package totaling $165 million in 2025, which included a substantial one-time stock option grant. His departure following the Paramount-Warner Bros. merger is set to include a "golden parachute" payment of at least $550 million. Despite significant job reductions implemented by Zaslav and his leadership team to streamline operations and cut costs, Warner Bros. Discovery transitioned from a pro-forma EBITDA loss of approximately $2.1 billion in 2022 to a $1.4 billion profit in 2025, with projections for double-digit subscriber revenue growth in 2026, showcasing a notable financial turnaround under his leadership.

The Enduring Power of Collective Endeavor

In his closing remarks, Zaslav eloquently reflected on the transformative potential of creative spaces, likening the seemingly empty Loft to a crucible where countless worlds have been imagined and brought to life. He celebrated the "extraordinary creativity, craftsmanship, and collaboration" that have defined the company's journey, acknowledging the tireless dedication of individuals who turn abstract ideas into tangible experiences. He emphasized that every significant moment, from captivating narratives to impactful journalism and thrilling sports events, is a testament to the collective talent and unwavering commitment of the entire team, urging them to continue honoring their past while boldly shaping the future.