Warner Bros. Discovery’s David Leavy has inked a new three-year contract as Chief Corporate Affairs Officer with the David Zaslev-led media conglomerate, Deadline has confirmed.
The new $1.5M annual base salary contract continues Leavy’s run as one of Zaslav’s most trusted consiglieres, the executive having served previously at Discovery for 21 years.
Earlier in his career, Leavy was the chief spokesman and senior director of public affairs for the National Security Council as well as the Clinton White House’ deputy press secretary for foreign affairs.
Per filings with the SEC, Leavy’s annual salary gets a 15% bump, effective April 8, which was the day Discovery merged with Warner Media. In addition to a bonus target upping to 125% of his base salary, Leavy is landing a one-time award of near 74K restricted stock units worth around $971K.
Last year, Leavy took home $6.5M to Zaslav’s payday of $246M.
Zaslav is looking to turn Warner Bros Discovery into a profit house with reported $3 billion cost savings. Fourteen percent of the HBO/HBO Max staff has been cut so far, translating to 70 jobs lost.