Discovery Communications’ CEO Expected to Earn Big in 2014
David Zaslav, CEO of Discovery Communications, Inc. (NASDAQ:DISCA) since 2007, is likely to bring in $110 million in 2014, reports Bloomberg. The year 2014 is the beginning of a new contract with the company that will keep him with Discovery until December 31, 2019, the communications giant announced Friday. The $110 million in compensation includes a salary of $3 million, $6.6 million in potential bonuses and more than $1 million in performance-based restricted stock units, based on the value of the share’s at Thursday’s close, said Bloomberg.
Zaslav originally joined Discovery Communications in 2007 after working for NBCUniversal, and helped shepherd the company’s IPO; Discovery’s stock has since increased sixfold. Some of his biggest accomplishments in the role include doubling the company’s line-up of cable networks and pioneering a joint venture with Oprah Winfrey to create the OWN channel, per Bloomberg.
The company has also expanded overseas since Zaslav took the wheel: the number of international networks run by Discovery has increased to nearly 200, reports AdWeek. The Discovery CEO also oversaw the company’s largest ever acquisition, which involved 12 television networks across Northern Europe in a deal worth $1.7 billion.
“David has done a superb job,” said Liberty Media’s John Malone, who spoke with AdWeek, “He built a strong management team that has expanded the company’s reach and relevance, increased it’s market share domestically and around the world, and created a bigger, stronger portfolio of brands.”
Zaslav was one of the highest-paid media executives in the U.S. the past two years as well, in 2012 his compensation was valued at $49.9 million, which made him second only to CBS Corp.‘s (NYSE:CBS) CEO Les Moonves, whose compensation came in at $62.2 million that year.
Zaslav’s new contract will end just two weeks before he is due to turn 60, according to Bloomberg; the five year contract is two years shorter than the CEO’s previous one, which spanned seven years. “Zaslav has committed to hold the majority of his equity from stock grants to term,” reports AdWeek.