Warner Bros. Discovery has unveiled a new employment contract for chief financial officer Gunnar Weidenfels as the studio moves towards a proposed merger with Paramount closing, pending current regulatory hurdles.

In a filing disclosed Thursday, Weidenfels, a once-future spinoff CEO for Discovery Global and longtime lieutenant to WBD CEO David Zaslav, will receive a new contract to kick in on July 11, 2026, and replacing an existing four-year pay deal from July 2022.

The merger of the Warner Bros. and Paramount film studios under one roof, combining the HBO Max and Paramount+ streaming services, and creating what will be the largest portfolio of linear TV channels in the country, encompassing CBS, TNT, TBS, CNN, HGTV, MTV, Comedy Central, Nickelodeon and many others, means WBD’s cable TV spinoff to be led by Wiedenfels is not expected to happen.

But with the $110 billion megadeal yet to close, the exec has been given a new contract ahead of his current deal expiring, and one largely with agreement terms unchanged. Wiedenfels will remain the finance chief at WBD until April 28, 2028 and receive an annual base salary at $2.5 million and an annual cash bonus at 175 percent of his annual base salary, contingent on meeting  performance objectives.

Wiedenfels could also tap annual equity awards with an annual target value of $10 million. As his contract renews, Wiedenfels will also receive a one-time award of restricted stock units with a target grant date value of $2 million, on Aug. 17, 2026.

WBD in the SEC filing said the new employment agreement was “consistent” with the deal terms for the merger transaction between WBD and Paramount Skydance announced on Feb. 27, 2026. The final compensation for top WBD executives when the merger deal closes has yet to be hammered out, but Zaslav and others are in line to get nine-figure payouts.