The Patricians just aren’t like you and me. If you get canned for some reason — I’m retired now, so I’m beyond the ability of anyone to fire — you might, might! be able able to get a few hundred bucks a week in unemployment benefits. If you are terminated for cause, such as an inappropriate sexual relationship with a subordinate, something which could expose your company to a sexual harassment claim, you might not be able to get even unemployment compensation.
But life is different for the elites. From Le*gal In*sur*rec*tion:
Former CNN Chief Jeff Zucker to Get $10 Million Settlement, Agrees Not to Sue
“if WarnerMedia keeps their side of the deal, in the next week to 10 days, Zucker will receive a one-time payment of around $10 million”
Posted by Mike LaChance | Thursday, March 10, 2022 | 1:00 PM EST
CNN’s former president Jeff Zucker is getting a major golden parachute from his former employer, with the agreement not to sue them.
It’s a pretty good deal for a man who basically destroyed the network’s ratings and brand.
FOX News reports:
Ex-CNN chief Jeff Zucker to receive roughly $10 million from WarnerMedia, won’t sue: report
Former CNN boss Jeff Zucker has reportedly agreed to a deal with CNN parent company WarnerMedia over his swift exit from the network that will award him roughly $10 million in exchange for not suing after being forced to resign last month.
“Details of the confidential package are obviously being kept close to the vest, but sources tell us Zucker made the decision several weeks ago to accept what had been put on the table by his old bosses at the time of his cable news exit. What we do know is that, if WarnerMedia keeps their side of the deal, in the next week to 10 days, Zucker will receive a one-time payment of around $10 million,” Deadline’s Dominic Patten and Ted Johnson wrote, citing “sources.”
It seems that Mr Zucker’s girlfriend, who was not initially fired forced to resign, but quit a couple of weeks later, is also getting a golden parachute of a cool million.
As we have noted previously, Mr Zucker had a net worth of $60 million, plus an annual base salary of $6.3 million, before any bonuses — and how he could ever qualify for a bonus the way CNN’s ratings tanked is beyond me, but he certainly did get them — and Miss Gollust wasn’t exactly living paycheck-to-paycheck herself, with an estimated net worth of $5 million.
It seems that CNN has some dirty laundry the network wants desperately to keep out of the public’s sight. Given that the relationship between the two has been reported, by multiple sources, as an “open secret,” it has to be asked why CNN forced them out over that, rather than the ratings disaster the network had become.
Remember: the excuse for the resignation given was that Mr Zucker and Miss Gollust, both of whom are divorced, failed to report the relationship. But the head of human resources for CNN, Lisa Greene, is also an Executive Vice President, as was Miss Gollust, and the idea that someone who hobnobs with the network’s top brass didn’t know the “open secret” everyone else did is pretty difficult to swallow.
So, what does Mr Zucker know that CNN is so desperate to keep quiet?