Warner Bros. Discovery has clarified and amended elements of CEO David Zaslav ’s employment agreement as it seems a planned separation of the company may becomes something else, like a spinoff or sale, amid a strategic review process not initially envisioned.

“While we are continuing to advance our plans to separate our Streaming & Studios business (Warner Bros.) from our Global Networks business (Discovery Global), our Board of Directors has initiated a review of strategic alternatives to maximize shareholder value. We commenced the strategic review in response to unsolicited interest from multiple parties and intend to evaluate a broad range of options, including a transaction for the entire company and separate transactions for Warner Bros. and/or Discovery Global,” the company said

See Full Page