Warner Bros. Discovery is slashing CEO David Zaslav's paycheck—big time. The move comes after the company spun off part of its business, and it’s a rare case of a top exec taking a financial hit, even if his salary was already eye-watering.

Editor’s Note: CEO pay cuts don’t happen often, especially in Hollywood, where big media bosses usually ride out storms unscathed. This signals that Warner Bros. Discovery is tightening the belt—or at least wants to look like it is—after a rocky few years of mergers, layoffs, and streaming struggles. Whether this is PR or real cost-cutting, it’s a headline-grabber.