Discovery’s president/CEO David Zaslav has extended his contract for five more years to the end of 2023. He joined the broadcaster in 2007.
Zaslav has secured an increase in his salary target bonus, up at $22 million on top of $3 million base salary. Other stock options (10.8 million) will vest in 2023 and he should also receive additional bonus payments. Last year, for example, his total remuneration package topped $42 million (up 13 per cent on the previous year). He also gets to retain access to his corporate jet, worth $505,000 annually.
Discovery says: “The contract extension provides ongoing management continuity and stability and ensures Zaslav’s continued leadership for the next five and a half years. In 2018, Discovery acquired Scripps Networks Interactive, home to top brands including HGTV, Food Network, and Travel Channel, creating a new and enhanced portfolio of the most trusted and deeply loved brands in media. Also in 2018, Discovery signed an unprecedented alliance with the PGA TOUR to create a first-of-its kind international golf service, including global television and multi-platform live rights, outside the United States, to all PGA TOUR media properties.”
“David has done a masterful job leading and growing Discovery over the last decade,” said Discovery board member and Liberty Media chair John Malone. “He is a visionary, a strategic builder and all around great guy. Under David’s leadership, Discovery has scaled new heights becoming the leader in sports across Europe, building the leading global IP portfolio of high quality content, and positioning Discovery for continued global growth,” Malone added. “We are lucky to have him.”