Author: rb809rb

  • Turkey wants to ban social media for kids under 15

    The Turkish parliament has voted through a bill that would ban all children under the age of 15 from using social media. As part of the legislation, social media platforms would be required to enforce age-verification measures on their apps, provide parental control tools, and react more quickly to harmful content being posted.

    As reported by The Associated Press, lawmakers have passed the bill in the wake of two deadly school shootings in Turkey, after which police arrested 162 people accused of sharing footage of the tragedies online.

    Turkey’s President Recep Tayyip Erdogan now has 15 days to accept the bill in order for it to become law, after reportedly saying social media platforms had become “cesspools” in a televised address to the nation.

    As well as the major social media platforms, AP reports that online gaming companies would also have to implement their own restrictions on minors, with potential punishments including bandwidth reductions and financial penalties.

    This isn’t the first time Turkey has locked horns with social media and online gaming platforms. Instagram has been blocked in the country before, back in 2024, relating to a dispute over the posting of Hamas-related content. Access was restored around a week later, but in the same time period Turkey also banned Roblox over reports of inappropriate sexual content accused of being explorative to children. At the time, a Turkish official also named the “promotion of homosexuality” as one reason for the ban.

    Turkey has also temporarily banned Twitter (now called X) on several occasions, most recently after 2023’s devastating earthquakes, though it was not clear at the time why the government may have moved to block the social media platform.

    The country’s lawmakers moving to ban under-15s from accessing social media is part of an emerging trend in Europe and across the globe. The likes of Greece and Austria have recently introduced similar legislation of their own, following Australia becoming the first country in the world to ban children under 16 from social media last year. The UK has since considered bringing in tighter restrictions too.

  • BIS warns cryptocurrency exchanges are becoming ‘shadow banks,’ and why that’s a risk

    BIS warns cryptocurrency exchanges are becoming ‘shadow banks,’ and why that’s a risk

    Crypto exchanges are increasingly offering bank-like services such as lending and yield products, but without the protection traditional financial institutions provide, according to a report issued Thursday by the Bank for International Settlements (BIS).

    “What looks like a high-yield savings product is, in reality, an unsecured loan to a lightly regulated shadow bank,” said the report, which does not necessarily reflect the views of the BIS, an international financial institution owned by 63 central banks from around the world.

    The 38-page report also noted that the crypto industry’s largest participants have evolved beyond simple trading platforms into what it described as “multifunction cryptoasset intermediaries,” bundling services that would typically be separated across banks, brokers and exchanges.

    The authors said the biggest concern is how fast “earn” and yield products are growing, and that they are widely marketed to retail users as tools to generate passive income on their crypto assets. While these offerings often promise attractive returns, their structure is closer to unsecured lending than savings, the report said.

    “These platforms are effectively taking deposits and recycling them into risky activities — but without the safeguards that make traditional banking stable.”

    In many cases, crypto exchange users relinquish control and, sometimes even ownership, of their digital assets to the platform, which then uses the funds for lending, trading or market-making strategies. The returns paid to customers are a share of the profits generated from these activities.

    While these arrangements are similar to bank deposits, they lack the insurance traditional finance offers. There may also be a lack of transparency on how the assets are used.

    “From the customer’s perspective, these products are generally an unsecured claim on the intermediary,” the report said, warning that users are exposed to the platform’s solvency in the event of losses.

    The BIS pointed to the collapse of Celsius Network and FTX as examples of how users are exposed and victims of the weaknesses it says are still rampant within the industry.

    “What unraveled at Celsius and FTX wasn’t just poor management, it was a system built on leverage, opacity and deposit-like promises without protection,” the report said.

    The report cited the flash crash of October 2025, which triggered an estimated $19 billion in forced liquidations across crypto derivatives markets, saying the slide highlighted how quickly these dynamics can spiral.

  • GameFi is effectively dead as 93% of projects collapse

    GameFi is effectively dead as 93% of projects collapse

    Roughly 93% of GameFi projects are now effectively dead, as tokens plunge 95%, user counts flatline, VCs pivot to AI and RWAs, and even Animoca trims pure gaming bets.

    Roughly 93% of GameFi projects have failed, with token prices collapsing about 95% from 2022 highs and user activity evaporating to near zero, according to data shared by market-making firm Caladan and earlier sector-wide studies by ChainPlay and Storible. Their analysis of more than 3,200 Web3 gaming projects found that the average GameFi title survives only around four months before its token drops over 90% and daily active users fall below 100.

    Caladan’s breakdown echoes ChainPlay’s finding that “93% of GameFi projects are dead,” underscoring how the sector — which drew over $12 billion of investment at its peak — has become one of crypto’s most brutal wipeouts. In 2024, GameFi funding fell to roughly $859 million, down about 85% from the 2022 high of $5.56 billion, and by 2025 that drop had deepened to around 93% as studios struggled to raise new rounds.

    VC money rotates to AI, RWAs, and L2s

    The funding collapse reflects a sharp pivot by venture capital into sectors seen as having clearer product-market fit and regulatory tailwinds. Reports from firms tracking deal flow show dollars moving out of play-to-earn economies and into artificial intelligence tooling, real-world asset tokenization, and Layer-2 infrastructure, where usage and fee revenue have held up better through the cycle. One recent Messari-cited snapshot found that only 6 of 41 token sales since 2025 are currently profitable, underlining how investors have been burned by high-emission, low-retention token models.

    “GameFi tokens were left for dead after a brutal 2025,” one MEXC market note observed, estimating the sector ended that year down roughly 75% and describing investor interest as “wiped out.” While a handful of gaming chains and tokens are seeing tentative recoveries in early 2026, data providers stress that these are exceptions, not a broad trend reversal.

    Animoca trims gaming, leans into stablecoins

    Even category champions are repositioning. Animoca Brands — long one of Web3 gaming’s most aggressive investors, with more than 380 Web3 bets including The Sandbox, Axie Infinity, and Yield Guild Games — has cut its pure gaming exposure to roughly a quarter of its portfolio, according to people familiar with its recent allocation moves and public commentary. The company has been leaning harder into tokenization services, treasury management, and stablecoin-focused products, seeking steadier cash flows than volatile in-game economies can offer.

    For further background on GameFi’s bust and survival prospects, see this GamesBeat report on the 93% failure rate, this Games.gg summary of the same data, and this analysis of why blockchain games failed to meet expectations.

  • N.M. zoo opening delayed when elephant escapes enclosure

    N.M. zoo opening delayed when elephant escapes enclosure

    Odd News // 3 weeks ago

    Virginia man buys 20 tickets for one lottery drawing, wins 20 times

    March 27 (UPI) — A Virginia man bought 20 identical tickets for a single Pick 4 lottery drawing and ended up winning $5,000 for each ticket — a total of $100,000.

  • Paramount Takeover of Warner Bros. Gets Green Light From Shareholders, But They Reject David Zaslav’s Pay Package

    Paramount Takeover of Warner Bros. Gets Green Light From Shareholders, But They Reject David Zaslav’s Pay Package

    Paramount‘s $110 billion megadeal for Warner Bros. Discovery got the green light from WBD shareholders Tuesday morning, as they voted to approve the merger that would combine two of Hollywood’s legacy studios.

    The shareholders, however, rejected WBD CEO David Zaslav‘s lucrative compensation package, sending a message to its board in the process.

    The votes are preliminary, with WBD expected to release more complete results later on. The company’s secretary said when announcing the preliminary results that shareholders “overwhelmingly” voted to approve merger.

    With shareholder approval secured, Paramount, led by CEO David Ellison, just needs to clear the remaining regulatory hurdles (particularly in Europe) to close the deal.

    The merger would reshape Hollywood, bringing the vaunted Warner Bros. and Paramount film studios under one roof, combining the HBO Max and Paramount+ streaming services, and creating what will be the largest purveyor of linear TV channels in the country, encompassing CBS, TNT, TBS, CNN, HGTV, MTV, Comedy Central, Nickelodeon and many others.

    WBD shareholders met virtually Thursday to vote on the deal.

    The only other item on the agenda was the advisory vote on executive compensation, with top WBD executives set to get nine-figure payouts when the deal closes. Institutional Shareholder Services, an influential proxy advisory firm, had urged a “no” vote on compensation due to WBD CEO David Zaslav’s pay package, which will see him collect between $550 million and $886 million, depending on a number of factors.

     “The value disclosed in the golden parachute table for CEO Zaslav at over $886 million represents one of the highest golden parachute estimates ever observed,” ISS wrote of the “extraordinary” package.

    Shareholders appeared to reject the rich pay package in a significant rebuke, though as an advisory vote it is non-binding, meaning that the company does not have to make any adjustments if it does not want to. Companies will, however, often voluntarily adjust pay packages after shareholders reject them.

    “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” said Zaslav in a statement. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders. We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company.”

    Ellison has framed the deal as bolstering competition in a larger battle against tech giants like Amazon and Apple, not to mention Netflix, which is the dominant player in subscription streaming.

    He has committed to releasing at least 30 movies a year theatrically with minimum 45-day theatrical windows, and to continue to be a buyer and seller of TV series. HBO Max and Paramount+ will merge, but he has promised to keep HBO running independently as a studio.

    But the deal has drawn intense skepticism from many notable Hollywood power players, worried that the consolidation will mean fewer opportunities. That was evident in a letter signed by thousands of Hollywood notables.

    “This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries — and the audiences we serve — can least afford it,” the letter states. 

    And Democrats in Washington are targeting the deal not only because it would merge CBS News and CNN, two of the largest TV news outlets in the country, but also because of perceived acquiescence to President Donald Trump and his administration.

    “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery, building on our successful equity and debt syndications and progress across regulatory approvals,” a Paramount Skydance spokesperson said Thursday after the vote results were announced. “We look forward to closing the transaction in the coming months and realizing the creation of a next-generation media and entertainment company that better serves both the creative community and consumers.”

    During the special meeting, WBD board chair Samuel Di Piazza Jr. framed the vote as closing the chapter on what had been a long, tumultuous process.

    “I would like to thank the WBD Board for their continued leadership and support, particularly over the last year, as we navigated this strategic review process that led us to approve the merger agreement with Paramount Skydance Corporation that we are submitting to you, our stockholders for approval today,” Di Piazza said to open the meeting. “Your board served you, the investors, with commitment, courage and a deep sense of responsibility to creating shareholder value.”

  • Cannes Directors’ Fortnight: Bruno Dumont’s ‘Red Rocks’ Joins Lineup

    Cannes Directors’ Fortnight: Bruno Dumont’s ‘Red Rocks’ Joins Lineup

    Cannes Film Festival regular Bruno Dumont (Slack Bay, Flanders) is returning to the Croisette this year with his latest, Red Rocks, screening in the Directors’ Fortnight sidebar.

    Directors’ Fortnight added the feature, described as a Romeo and Juliet-style romantic drama set on the French Riviera, as a late edition on Thursday. Dumont will also give a masterclass in the section, where he premiered his feature debut, The Life of Jesus in 1997. Over the years, the French director has screened several works in the section, which runs parallel to Cannes’ main festival. He screened his four-part television miniseries Li’l Quinquin in Directors’ Fortnight in 2014 and the musical drama Jeannette, the Childhood of Joan of Arc there in 2017.

    Dumont has also graced the main Competition multiple times, winning the Grand Jury Prize for both his 2006 psychological war drama Flanders and his 1999 crime mystery Humanity. His recent Palme d’Or contenders include the comedies Slack Bay (2016) and France (2021).

    Red Rocks joins a high-profile, and unusually star-studded, lineup for the 58th edition of Directors’ Fortnight. Highlights this year include Reed Van Dyk’s Iraqi war veteran drama Atonement, starring Kenneth Branagh, Hiam Abbass and Boyd Holbrook; Arie Esiri and Chuko Esiri’s Mrs Dalloway with Sophie Okonedo, David Oyelowo and Ayo Edebiri; and Kantemir Balagov’s Butterfly Jam, starring Barry Keoghan and Riley Keough, which will open the sidebar on May 13.

  • Kalshi Fines Meme Coin Candidate Mark Moran, Others for Betting on Their Own Elections

    Kalshi Fines Meme Coin Candidate Mark Moran, Others for Betting on Their Own Elections

    In brief

    • Kalshi unveiled enforcement actions against three political candidates who had bet on their own elections.
    • The individuals included one U.S. Senate hopeful in Virginia, who also backed a meme coin while running on a pro-crypto platform.
    • As Democratic lawmakers push for tighter prediction market rules, Kalshi and Polymarket have detailed steps taken to curb insider trading.

    Kalshi disclosed its second round of enforcement actions on Wednesday, detailing fines and suspensions issued against political candidates who traded on their own elections.

    In a blog post describing individuals’ conduct as a form of political insider trading, Kalshi noted that each candidate had made bets in violation of the prediction market’s rules while running for congressional seats in Minnesota, Texas, and Virginia.

    The company noted that two of the cases ended in settlements for traders who acknowledged their misconduct, while one individual who did not accept full responsibility was issued a disciplinary action that represented a harsher penalty.

    The candidate slapped with the disciplinary action was Mark Moran, according to a document that Kalshi published. The 34-year-old previously told Decrypt that he wagered $125 himself as a form of “free advertising” during Virginia’s United States Senate Democratic primary.

    Kalshi indicated in the blog post that Moran went dark after initially conceding that he made improper bets on whether he would announce and win a bid against Sen. Mark Warner (D-VA). Moran was fined $6,300 and prohibited from using Kalshi’s platform for five years.

    The other candidates include Matt Klein, who is running in the Democratic primary for Minnesota’s 2nd Congressional District, and Ezekiel Enriquez, who ran in the Republican primary for Texas’ 21st Congressional District. 

    Both were hit with five-year bans, yet Klein and Enriquez agreed to pay $540 and $784, respectively, for their misconduct. In an unrelated campaign stunt earlier this year, Moran backed a meme coin on a pro-crypto platform, saying “any attention is good attention” in February.

    Decrypt has reached out to Moran for comment.

    Kalshi’s disclosure comes as it faces growing scrutiny, alongside chief rival Polymarket, from Democratic lawmakers who argue that the platforms are ripe for insider trading. On the same day last month, both platforms unveiled moves to curb misconduct.

    That same month, a video editor fined and banned by Kalshi was fired by Beast Industries. The prediction market found that the individual, Artem Kaptur, likely abused knowledge about YouTube star MrBeast’s upcoming videos to conduct “near-perfect trading.”

    Kalshi detailed another enforcement action at the time, penalizing Kyle Langford, a 24-year-old Republican candidate in California, who wagered $200 on his own gubernatorial bid. Langford and Moran had telegraphed their respective wagers on social media.

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  • OpenAI Launches Workspace Agents Feature in ChatGPT

    OpenAI Launches Workspace Agents Feature in ChatGPT

    In brief

    • OpenAI launched workspace agents for ChatGPT Business, Enterprise, Edu, and Teachers plans.
    • The agents can run multi-step tasks in the cloud, integrate with apps, and work in Slack.
    • The feature is free in research preview until May 6, when credit-based pricing begins.

    OpenAI is pushing ChatGPT beyond the chat box with the launch of “workspace agents,” a new feature that lets businesses automate recurring tasks even when employees are offline.

    Announced on Wednesday, OpenAI said in a post that, unlike the custom GPTs users have built in the past, workspace agents are powered by OpenAI’s Codex model and run as persistent assistants that can connect to external apps, retain information across projects, and complete multi-step workflows without repeated prompts.

    “Workspace agents are an evolution of GPTs. Powered by Codex, they can take on many of the tasks people already do at work—from preparing reports, to writing code, to responding to messages,” OpenAI said. “They run in the cloud, so they can keep working even when you’re not. They’re also designed to be shared within an organization, so teams can build an agent once, use it together in ChatGPT or Slack, and improve it over time.”

    According to OpenAI, users can create an AI agent from a new tab in ChatGPT by describing a desired workflow. ChatGPT then helps map the process, connect tools, and test the new agent. Once active, the agents can run on schedules or respond to specific triggers.

    “AI has already helped people work faster on their own, but many of the most important workflows inside an organization depend on shared context, handoffs, and decisions across teams,” OpenAI said in a statement. “Workspace agents are designed for that kind of work: they can gather context from the right systems, follow team processes, ask for approval when needed, and keep work moving across tools.”

    The new feature comes as the race to develop agentic AI enters a new and heavily funded phase, with tech giants including Google, Microsoft, and Amazon investing billions to build autonomous systems capable of completing tasks with limited human oversight.

    As experts continue to warn about the dangers of prompt injection and other cybersecurity threats, OpenAI said companies can limit what data and tools the agents can access, require human approval for sensitive actions, and monitor for prompt injection attacks.

    Workspace agents are available now in research preview for ChatGPT Business, Enterprise, Edu, and Teachers plans. OpenAI said the feature will remain free until May 6, 2026, before moving to a credit-based pricing model.

    While OpenAI said its own teams are already using the technology, the company emphasized that GPTs will remain available, adding that “we’ll make it easy to convert GPTs into workspace agents.”

    OpenAI did not immediately respond to Decrypt’s request for comment.

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  • Dean Tavoularis, Oscar-Winning ‘Godfather: Part II’ Production Designer, Dies at 93

    Dean Tavoularis, Oscar-Winning ‘Godfather: Part II’ Production Designer, Dies at 93

    Production designer Dean Tavoularis, who shared an Oscar for art direction on “The Godfather: Part II” and was long associated with director Francis Ford Coppola, died Wednesday in Paris. He was 93.

    His death was reported to the Hollywood Reporter by critic Jordan Mintzer, who collaborated with him on the book “Conversations With Dean Tavoularis.” Cahiers du Cinema also posted about his death.

    Tavoularis, who was noted for his 20th century period settings, was also Oscar nominated for “The Godfather: Part III,” but surprisingly, the original “Godfather” film, on which he also worked, was not nominated in the art direction category in 1973. He also drew noms for Coppola’s “Apocalypse Now” and “Tucker: The Man and His Dream” as well as for William Friedkin’s “The Brink’s Job.”

    He also collaborated with Coppola on “The Conversation,” “One From the Heart,” “Rumble Fish,” “The Outsiders,” “Peggy Sue Got Married,” “Gardens of Stone,” the Coppola-directed segment in “New York Stories” and “Jack.”

    Tavoularis was an uncredited assistant art director on Robert Mulligan’s “Inside Daisy Clover” and Stanley Kramer’s “Ship of Fools” in 1965 but earned his very first screen credit as art director of Arthur Penn’s stylishly influential “Bonnie and Clyde” (1967), with its visually romanticized, Depression-era Dust Bowl settings; the Motion Picture Academy clearly valued the film’s look, as the movie took an Oscar for cinematography and a nomination for costume design.

    Though Antonioni’s 1970 film “Zabriskie Point” drew some derision from American critics, Tavoularis achieved a visually audacious juxtaposition between gritty and fantastical settings.

    Tavoularis and Coppola began their decades-long partnership on “The Godfather.”

    “As reflected in the sumptuousness of Gordon Willis’ cinematography and Dean Tavoularis’ art design,” the New York Times wrote of “The Godfather” and “The Godfather: Part II” in 1999, “the Corleone world had a glamour and a grandeur that generated enormous romanticism even as the films presented themselves as brutal, clear-eyed realism.”

    Peter Cowie, in his book “Coppola: A Biography,” declared that Tavoularis’ production design in “Godfather II” illustrates “the contrast between the supremacy and the decline of the Corleone empire.”

    “Very often with Dean,” Coppola remembered, “even early on, when I didn’t know if I agreed with him, I learned that his instincts were very good and that later on I would like very much his idea even if it wasn’t immediately something I liked.”

    When Coppola purchased Hollywood General Studios in 1980 and renamed the facility Zoetrope, making a go of creating his own studio, he named Tavoularis the head of the outfit’s art department.

    However, Coppola suffered a significant setback in 1982 with big-budget box office disaster “One From the Heart.”

    “I didn’t work for almost two years,” Tavoularis told the New York Times in 2003. “The movie was considered a fiasco, and I was perceived as being irresponsible because it went over budget. So I was totally blackballed by Hollywood. I took it as a badge of honor.”

    The production designer had a long working relationship with art director Angelo Graham, collaborating on films including Penn’s highly regarded Western “Little Big Man”; “Godfather II” and “Apocalypse Now” (for which they shared an Oscar and an Oscar nom, respectively); 1975 noir remake “Farewell My Lovely”; and later on the sleek near-future thriller “Rising Sun” (1993). He also worked closely on several films with cinematographer Vittorio Storaro, including “Apocalypse Now” and other Coppola films. On “Apocalypse Now” Tavoularis and Storaro teamed to use smoke of different colors to achieve a more atmospheric effect.

    In 2001 Tavoularis was the production designer on “CQ,” the feature directorial debut of Francis Ford Coppola’s son Roman, and Luis Mandoki’s “Angel Eyes.” He returned to his craft after a 10-year absence for Roman Polanski’s 2011 adaptation of Yasmina Reza’s play “Carnage.” (He had spent that decade away from production designer focusing on his work as a painter and had a show of his paintings at a Paris gallery in early 2011.)

    Tavoularis’ last bigscreen effort with Coppola was the New York-lensed “Megalopolis,” a project that was aborted in the wake of 9/11.

    But the pair continued to collaborate, as Tavoularis contributed artwork for the labels of Coppola’s wines and helped design the director’s Sonoma County winery.

    Born to Greek immigrant parents in Lowell, Mass., but raised in Los Angeles, Tavoularis got early peeks into the visual wonders contained behind studio gates when he assisted his father, who was in the coffee business, with deliveries to various Hollywood outposts. He studied architecture at the Otis Art Institute.

    “When I was young,” he said, “I attended art school, (but) there were no film schools to speak of then, though this was L.A. I went to movies and lost myself in them. Their settings registered, but I was not aware of art direction in film, and I never said to myself, ‘This is what I want to do.’”

    His first work in showbiz was at Disney. As an inbetweener — who creates the intermediate material between two images in the animation department, he worked on “Lady and the Tramp.” As a storyboard artist at the studio, he worked on films including “20,000 Leagues Under the Sea,” “Pollyanna” and “The Parent Trap.”

    Tavoularis’ work was the subject of a 2003 French documentary by Clara and Robert Kuperberg called “Dean Tavoularis, le magicien d’Hollywood.” He received a lifetime achievement award from the Art Directors Guild in 2007.

    Tavoularis met his wife, actress Aurore Clement, on the set of “Apocalypse Now.” Her scenes portraying a French widow on a decaying plantation in the film were dropped but restored for Coppola’s “Apocalypse Now Redux” in 2001.

    She survives him along with daughters Alison and Gina.

  • Warner Bros. Discovery Shareholders Overwhelmingly Approve Paramount’s Megadeal, but Vote Against Exit Pay Packages for Zaslav and Other Execs

    Warner Bros. Discovery Shareholders Overwhelmingly Approve Paramount’s Megadeal, but Vote Against Exit Pay Packages for Zaslav and Other Execs

    As expected, Warner Bros. Discovery shareholders gave the green light to Paramount Skydance‘s $111 billion deal to acquire the media company — moving David Ellison one step closer to controlling a new Hollywood empire. But investors weren’t OK with the lavish golden parachutes that CEO David Zaslav and other WBD top brass are set to receive through the merger.

    At the special meeting of WBD shareholders Thursday morning, which was held virtually, investors voted “overwhelmingly” in favor of the Paramount deal, comprising $31 per share in cash for Warner Bros. Discovery, according to WBD.

    However, a majority of Warner Bros. shareholders voted against the compensation packages for Zaslav and WBD’s other named executive officers in connection with the Paramount merger.

    It’s a purely symbolic rebuke: The shareholder advisory vote is non-binding, meaning the Warner Bros. Discovery board can go ahead with the payouts as planned anyway. But it shows WBD shareholders aren’t happy by the generous payments to the company’s outgoing executive team and comes after shareholders last year also voted against the WBD executive compensation packages. Shareholder advisory firm ISS recommended a vote against the compensation measure over its “problematic” tax reimbursements to Zaslav and the full vesting of the CEO’s stock awards.

    Under the terms of the exit compensation package for Zaslav, he will receive $34.2 million in cash severance; $517.2 million in equity in the combined company; and $44,195 in continued health coverage reimbursement benefits, according to a WBD filing with the SEC. That’s at least $550 million. In addition, Warner Bros. Discovery has agreed to reimburse Zaslav up to $335 million for taxes assessed by the IRS on his accelerated stock vesting (although WBD says that figure will decline over time, with the final amount depending on the closing date of the Paramount pact).

    SEE ALSO: $500 Million Exit: David Zaslav Is Leaving Warner Bros. a Rich Man — but He’d Love to Stay Around Even Longer

    In addition, Zaslav as of March 11 had $115.85 million worth of vested stock awards from Warner Bros. Discovery, according to the filing. And last month, Zaslav sold $114 million worth of WBD stock.

    Zaslav is subject to a non-competition covenant and a non-solicitation of customers and employees covenant, both of which are applicable for two years after Paramount-WBD closes.

    Other top Warner Bros. Discovery execs are in line to get nine-figure payouts. J.B. Perrette, CEO and president of global streaming and games, is set to receive $142 million (including $18.2 million in cash severance payments and $123.9 million in equity); chief revenue and strategy officer Bruce Campbell will get an estimated $121.5 million (including $18.8 million in severance and $102.7 million in equity); CFO Gunnar Wiedenfels’ package is valued at $120 million (including $6.6 million cash severance payments and $113.1 million in equity); and Gerhard Zeiler, president of international, is set to receive $82.6 million ($11.9 million in severance and $70.7 million in equity).

    Paramount’s deal to swallow WBD, clinched in February after Netflix declined to up its offer for Warner Bros., is still pending regulatory approvals by the Justice Department and European entities. It’s not known whether regulators will seek to impose certain conditions on the merger. Meanwhile, several state attorneys general have been mulling taking legal action to block the deal.

    The debt-fueled deal would give Paramount Skydance, parent of CBS, CBS News, Paramount Pictures, Paramount+, BET, MTV, Nickelodeon and more, ownership of WBD businesses including HBO and HBO Max, Warner Bros.’s movie and TV studios, DC, CNN, TBS, TNT, HGTV and Discovery+. Paramount has said it expects to realize $6 billion in cost savings through the merger, indicating mass layoffs will happen if the M&A deal closes.

    The special meeting of WBD shareholders — which lasted just about 10 minutes — was presided over by chairman Samuel A. Di Piazza Jr. Company execs who were in attendance included Zaslav, Campbell, Wiedenfels and chief communications officer Robert Gibbs. To be eligible to vote, shareholders must have owned WBD stock as of March 20, 2026.

    Piazza said in a statement released at the conclusion of the meeting: “We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio. With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”

    WBD also provide a comment from Zaslav: “Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership. Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders. We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company.”

    A rep for Paramount Skydance shared this statement, with language quite similar to Zaslav’s: “Shareholder approval marks another important milestone towards completing our acquisition of Warner Bros. Discovery, building on our successful equity and debt syndications and progress across regulatory approvals. We look forward to closing the transaction in the coming months and realizing the creation of a next-generation media and entertainment company that better serves both the creative community and consumers.”