Warner Brothers Discovery hosting an annual investor meeting this week, and shareholders have voted to reject the 2024 compensation packages of its top executives, including CEO David Zaslov. Joining us now to discuss Yahoo finances, Allie Canal. You don't get this happening terribly often.

Yeah, don't get this happening often and very interesting results to see such a wide majority reject this pay package. Now, it is important to know even though shareholders did ultimately reject this, the decision is non-binding. That means the 51.9 million that David Zaslov made last year still stands. So this vote is largely symbolic, but the message was certainly clear. More than 1 billion votes cast in opposition, the final tally broke down roughly 60-40 against the pay package. And that's a shift from last year when the proposal barely passed with about 53% support. Now, in response, the company's board said it quote, "takes the results seriously" and plans to continue constructive dialogue with shareholders. The vote followed a recommendation from proxy advisory firm ISS, which urged investors to reject the plan, pointing to pay for performance misalignment and inadequate responsiveness. And it comes as Warner Brothers Discovery stock, well, that's struggled in the aftermath of its 2022 merger. Like many in the industry, the company has been hit hard as consumers cut the cord, move away from traditional cable. Earlier this month, S&P Global downgraded Warner's debt to junk status, citing ongoing struggles in its cable network division. To that point, legacy brands like CNN, Discovery, they've taken a hit with both ratings and ad revenue on the decline, and while streaming service is profitable and adding subscribers, it still trails behind giants like Netflix and Disney Plus. Despite all of that though, Zaslov's pay remains in line with and even in some cases exceeds what rival media CEOs are making, and as you can see on your screen, Netflix co-CEO Ted Sarandos, he made 61.9 million last year, Greg Peters pulled in 60.3 million, Disney's Bob Iger earned 41.1 million, and Comcast CEO Brian Roberts came in at 33.9 million. So again, while this vote mostly symbolic, it reflects growing scrutiny across the industry, and we have seen real changes come out of similar results. Just last year, for example, Netflix overhauled its executive pay structure after shareholders push back. So we'll see if we continue to track this and get any changes out of the pay, but again, we'll have to wait and see.

Allie, thanks so much. Appreciate it.