Warner Bros. Discovery chief executive David Zaslav has sold $21.7 million of company shares while the proposed acquisition of WBD by Paramount Skydance remains delayed by an antitrust challenge. The sale adds scrutiny because Zaslav stands to receive a substantial payout if the deal completes, while Paramount faces increasing costs as it seeks to resolve the legal dispute.

Zaslav sold 773,173 shares through Fidelity under a pre-arranged SEC Rule 10b5-1 trading plan, bringing his stock sales since the merger agreement to more than $195 million. Paramount faces a March 2027 trial against 12 state attorneys general, but will owe WBD shareholders $7 million a day from 1 October if the deal has not closed; Zaslav’s potential golden-parachute payment is at least $550 million.