Warner Bros. Investors Should Back Sale, Not CEO’s Pay, ISS Says

Warner Bros. Discovery Inc. shareholders should approve the company’s planned sale to Paramount Skydance Corp. at an April 23 special meeting, according to Institutional Shareholder Services Inc.

The $31-a-share offer from Paramount was the result of a competitive sale process that “provides shareholders comfort that the proposed deal is the best available,” the proxy adviser said in a report to clients.

David Zaslav

Photographer: David Paul Morris/Bloomberg

Shareholders should reject a “golden parachute” compensation package that will accelerate equity awards valued at over $500 million for Warner Bros. Chief Executive Officer David Zaslav, ISS said in the April 8 report.

The compensation for ...