By Lucas Manfredi

After shareholders rejected David Zaslav’s $51.9 million pay package for 2024, Warner Bros. Discovery’s says it will “significantly reduce” CEO David Zaslav’s annual compensation following the split of its global linear network and studios & streaming businesses in mid-2026.

Per a Monday filing with the U.S. Securities and Exchange Commission, WBD will lower Zaslav’s annual cash compensation opportunity and shift the mix in his pay towards long-term incentives. As part of this change, the company will no longer specify performance metric weighting that applies to the annual cash incentive opportunity, annual performance equity awards or performance periods for the annual performance equity awards.

By Josh Dickey

Two press advocacy groups are suing the LAPD and Police Chief Jim McDonnell in a California federal court, alleging that police assaulted journalists and blocked their access to permitted areas during recent immigration-raid protests in Southern California.

The lawsuit, obtained by TheWrap, states that the journalists’ First and 14th Amendment rights were violated in sometimes “targeted” attacks. The filing seeks remedies to prevent further misconduct by the department.

By Lucas Manfredi

As the Cannes Lions Festival kicks off, IPG’s media global media investment and intelligence unit Magna revised downward its ad revenue forecast for media owners to 4.9% year over year – $979 billion globally in 2025 – down from its previous forecast of 6.1% growth in December.

The downward revision is due to “the deterioration in the economic outlook and a decline in business confidence,” Magna global market research executive vice president Vincent Létang said.