Word of the contract, first reported by Vanity Fair, comes the day after a federal judge cleared the way for AT&T Inc.’s $85-billion acquisition of CNN parent Time Warner Inc. The Justice Department’s effort to block the deal was turned down in a ruling issued Tuesday that said the merger can be completed with no conditions.
Vanity Fair said Zucker signed the multiyear pact several months ago.
Zucker, 53, has led CNN since 2013. His status at CNN within the merged companies has been the subject of speculation as President Trump has been a harsh critic of the network’s coverage of his campaign and administration.
Trump’s enmity for CNN, which he often refers to as “fake news,” was seen as a possible impediment to the AT&T deal going through. It led to rumors that AT&T would spin off the network in order to ensure passage of the merger.
CNN has delivered solid revenue growth under Zucker’s watch, exceeding $1 billion in profits in each of the last two years. Trump has largely been responsible for the boost, as viewing for all of the cable news networks has grown since the real estate mogul-turned-reality TV star formally entered politics as a presidential candidate in 2015.