Warner Bros. Discovery CEO Sells $59.5 Million in Company Stock Amid Paramount Skydance Merger Legal Challenges
On July 13, 2026, Warner Bros. Discovery (WBD) CEO David Zaslav sold approximately 2.2 million shares of company stock worth $59.5 million through a Rule 10b5-1 trading plan. The transaction was non-discretionary and part of an established schedule to avoid insider trading concerns. The sale occurred as legal challenges emerged against the proposed merger between Warner Bros. Discovery and Paramount Skydance, with twelve U.S. states led by California filing a lawsuit alleging antitrust violations. Despite these developments, Zaslav retained significant equity exposure in WBD post-transaction, including around 6.9 million directly held shares and nearly 18.8 million unvested stock options. The company reported a market capitalization of $68.4 billion as of July 2026 but continues to face profitability challenges with trailing twelve months (TTM) net losses totaling $1.7 billion.
Tickers: $WBD
Topics: CEO stock sale insider trading Warner Bros. Discovery