Warner Bros. Discovery CEO David Zaslav is stepping in to buy Mohawk Day Camp, a nearly century-old summer camp in Westchester County, New York, after its parent company collapsed into bankruptcy. The camp, along with dozens of others across the north-eastern United States, had been left in limbo when the brothers who owned its holding company filed for Chapter 11 protection earlier this year, just as the summer season was due to begin, leaving families facing an uncertain summer.

Through his personal holding company Grandview Ventures, Zaslav has lodged a $68 million stalking horse bid for Mohawk Day Camp and its affiliated preschool, Mohawk Country Day School, in a deal struck with Simad Holdings and confirmed in court filings on Wednesday. The package covers almost 39 acres of land, a $250,000 playground and a performing arts centre, though the offer will still be tested at auction and carries a $2 million breakup fee, up to $680,000 in expense reimbursement for a rival winning bidder, and an 28 August deadline. Warner Bros. Discovery described it as a personal family investment rather than a business venture, noting Zaslav's own children attended the camp during his earlier career at NBC.