AceShowbiz - David Zaslav, CEO of Warner Bros. Discovery, faced significant shareholder opposition regarding his compensation package tied to the company’s pending merger with Paramount.

During a special shareholder meeting convened on Thursday, it was revealed that an overwhelming 82% of shareholders voted against Zaslav's pay package, which could reach as high as $886 million depending on various factors. This vote was detailed in a subsequent SEC filing by the company.

Despite the strong rejection, the shareholder vote is non-binding. This means that Zaslav is still legally entitled to receive the compensation outlined in his contract. However, the large margin of disapproval signals considerable dissatisfaction among investors.

The backlash against the merger and Zaslav's compensation comes amid broader concerns about his leadership during his four years as CEO. Shareholders appear to be sending a clear message of discontent regarding both the merger strategy and executive pay.

Although the shareholders voted in favor of the sale to Paramount in a separate key vote, the rejection of Zaslav's payday highlights tensions within the company’s ownership base. How the board and executives respond to this sentiment could influence the merger’s future and executive compensation decisions.

This development is a critical moment for Warner Bros. Discovery as it navigates the complexities of the merger and shareholder expectations.