WSJ News Exclusive | CNN’s Jeff Zucker Secured 2021 Bonus Payment of Over $5 Million in Exit Deal With Network’s Parent
Upon his departure from CNN, former president
Jeff Zucker
reached an exit deal with the network’s parent entitling him to a payment of over $5 million, compensation he was owed from his 2021 bonus, according to people familiar with the situation.
The agreement was finalized before Mr. Zucker announced his resignation from CNN on Feb. 2, citing a failure to disclose a consensual relationship with a colleague, the people said. Mr. Zucker didn’t receive any severance package as part of his exit from the company, they said.
The pact between CNN parent WarnerMedia and Mr. Zucker also included a nondisclosure agreement for Mr. Zucker, preventing him from discussing the circumstances of his exit from the network beyond a mutually agreed-upon statement, the people said. As part of the pact, Mr. Zucker waived his rights to sue WarnerMedia, they said.
Despite his agreement with WarnerMedia, Mr. Zucker continues to weigh his legal options, according to a person familiar with his thinking.
Deadline earlier reported some details of Mr. Zucker’s deal with WarnerMedia.
When Mr. Zucker resigned from CNN, he said in a statement that he failed to disclose a romantic relationship with Allison Gollust, the network’s chief marketing officer and top spokeswoman. Ms. Gollust resigned later that month. On the day of Ms. Gollust’s resignation, WarnerMedia Chief Executive
Jason Kilar
said in a memo to employees that an investigation conducted by a law firm hired by CNN had found violations of company policies by Mr. Zucker, Ms. Gollust and Chris Cuomo, a former prime-time anchor who was fired in December.
WarnerMedia, currently a unit of
AT&T Inc.,
is in the process of merging with
Discovery Inc.,
a deal that is expected to close in the second quarter.
Discovery Chief Executive
David Zaslav
last week tapped producer Chris Licht to succeed Mr. Zucker as head of CNN. Mr. Licht is currently the executive producer of
CBS’s
“Late Show with Stephen Colbert.” Prior to that, he produced the CBS news morning program. Before joining CBS News, he was an executive producer of the MSNBC program “Morning Joe.”
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.