Advertisement

Discovery CEO David Zaslav collects $33.3 million in 2013

Discovery CEO David Zaslav collects $33.3 million in 2013
David Zaslav, Discovery Communications chief executive, received a compensation package in 2013 of $33.3 million. He's seen here a 2013 leadership conference in New York. (Larry Busacca / Getty Images for Women in Cable Telecommunications)

Discovery Communications Chief Executive David Zaslav might run one of the smallest of the major media companies, but his pay remains in the big leagues.

Zaslav last year collected compensation valued at $33.3 million, according to Discovery's proxy, which was filed Friday afternoon with the Securities and Exchange Commission.

That amount represented a more than 30% drop over Zaslav's 2012 pay arrangement, which was valued at $49.9 million.

Advertisement

Zaslav in 2013 received a base salary of $3 million, a $5.8-million cash bonus and $22.5 million in stock option awards. Discovery extended another $2 million in additional benefits, including $1.5 million for his supplemental retirement account, a car allowance, travel on corporate jets, personal security and reimbursements for home-office expenses.

Zaslav, 54, is credited with dramatically growing Discovery's foreign channels business, expanding the TV company's international footprint at a much faster clip than other media companies.

According to the proxy, Discovery's second-highest paid executive last year was Mark G. Hollinger, then chief of Discovery Networks International. Hollinger -- a 23-year company veteran -- collected nearly $8 million in compensation. (Hollinger has since stepped down from that position.)

Company founder John Hendricks' compensation reached $7.8 million in 2013.

Advertisement

Last week, the company announced Hendricks would be retiring as chairman in May.

While 2013 didn't rank as Zaslav's highest-grossing year (he received $52 million in 2011), he could set a record with his compensation this year.

In January, Zaslav negotiated a new contract that will keep him at Discovery another six years. With stock and bonuses, Zaslav's 2014 compensation could top $100 million.

For comparison purposes, Walt Disney Co. Chief Executive Bob Iger received compensation valued at $34.3 million in 2013. 

Disney, the largest entertainment company, generated $46 billion in revenue last year and has a market capitalization of $138 billion.

Discovery, which is based in Silver Spring, Md., raked in $5.5 billion in revenue last year. Its market cap is $28.7 billion.

ALSO:

Advertisement

Twitter: @MegJamesLAT

Advertisement
Advertisement