The studio and cable conglomerate that David Zaslav created couldn’t overcome outside forces and massive debt.

He and Gunnar Weidenfels detail the blockbuster unbundling of WBD: Decision "reflects our belief that each company will go further and faster apart than they can together."

Warner Bros. Discovery is splitting up after just over three years, and Wall Street is cheering. The spinoff will create a slew of new questions.

Warner Bros. Discovery shareholders voted on Tuesday to reject the pay packages for several of the company’s executives, including CEO David Zaslav’s compensation package of more than $50 million.

For 15 years, Zaslav was Mr. Cable (being coached all the way by his mentor: “Cable Cowboy” John Malone). Zaslav defended the delivery system and the bundle for as long as he could — and then for a few years longer than that.

Warner Bros. Discovery shareholders just rejected CEO David Zaslav's pay package. Wall Street thinks a split-up of the company may be next.

Zaslav will lead as CEO a new so-called “Streaming & Studios” company made up of WB Television; WB Motion Picture Group; DC Studios; HBO and HBO Max (including its international sports offering); WB Games;

CEO David Zaslav will collect a $51.9 million salary at Warner Bros. Discovery. That comes despite a shareholder vote rejecting the pay package. An advisory firm had suggested shareholders say no citing “inadequate responsiveness and an unmitigated pay-for-performance misalignment.

The board had recommended shareholders to vote in favor of the 2024 executive compensation; however, more than 59% of them rejected the proposal on a non-binding basis.