T - Zucker reaches exit deal from WarnerMedia with no lawsuits - report

Exiting CNN chief Jeff Zucker has sealed a deal with WarnerMedia (T +1.9%) over his departure and won't sue as part of the arrangement, Deadline Hollywood reports. Zucker resigned abruptly about five weeks ago, citing an undisclosed relationship with a CNN employee, PR/marketing chief Allison Gollust. He decided weeks ago to accept what WarnerMedia was offering in the exit, according to the report - and that will mean an upcoming one-time payment of around $10 million. It heads off what had been inklings of a potential legal battle, with Zucker's lawyer warning WarnerMedia that its CEO Jason Kilar's characterization of the matter was close to defamatory. Discovery (DISCA +2.1%), itself set to take over WarnerMedia operations, has set CBS executive Chris Licht to take over Zucker's former spot atop CNN Global on May 1.

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Zucker reaches exit deal from WarnerMedia, with no lawsuits - report