Jan. 3 (Bloomberg) — Discovery Communications Inc. Chief Executive Officer David Zaslav stands to make more than $110 million in compensation in 2014, the first year of a new contract that keeps him at the cable-network giant through 2019.
Including salary of $3 million, $6.6 million in potential bonuses and more than 1 million performance-based restricted stock units, Zaslav's compensation would reach about $110.7 million this year, based on the value of the shares at yesterday's close. The six-year contract extension lasts until Dec. 31, 2019, according to a statement today.
Zaslav, whose new contract started yesterday, joined Discovery in 2007 from NBCUniversal and helped take the company public the following year. Since then, he's doubled its slate of cable networks and created a joint venture with Oprah Winfrey to start the OWN channel.
The contract will turn Zaslav into "a significant long- term shareholder in Discovery," the Silver Spring, Maryland- based company said. He has committed to holding the majority of his equity from stock grants to term, Discovery said.
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