David Zaslav’s Next Act: Summer Camp Owner

For nearly 100 years, tens of thousands of children have spent their summers at Mohawk Day Camp in Westchester County, New York, participating in activities like swimming, archery, crafts, dance and theater. A shocking bankruptcy, however, has put the camp’s future in jeopardy, along with dozens of other day camps and sleepaway camps across the northwestern U.S. A pair of brothers rolled up the camps, and accumulated debt along the way. A Chapter 11 filing for their holding company and all of the impacted camps followed earlier this year, right as kids were to be sent off for the summer (you can read more on what happened here). But with Mohawk facing an uncertain future, a surprise guardian has stepped up to save the camp and keep it alive for future generations: Warner Bros. Discovery CEO David Zaslav. According to bankruptcy filings, Zaslav, through his holding company Grandview Ventures, has made a $68 million bid for Mohawk Day Camp and Mohawk Country Day School, the preschool that it also operates. Zaslav’s Grandview Ventures struck a deal with Simad Holdings for the private school and camp, according to a court document filed on Wednesday. The agreement includes nearly 39 acres in Westchester Country, a $250,000 playground and a performing arts center, among other equipment and infrastructure. The stalking horse bid, which sets a price floor for the assets, will be tested at auction. The deal has a $2 million breakup fee and up to $680,000 in expense reimbursement if a competing bidder wins, with an Aug. 28 drop-dead date. “This is a personal family investment that reflects our lifelong belief that summer camp can be a wonderful part of a child’s growth, and Mohawk’s history as a successful camp experience for so many kids, including our own,” a spokesperson for Warner Bros. Discovery says. Indeed, Zaslav’s children (now all grown adults) attended camp Mohawk when he was an NBC executive living in Rye Brook. Now, of course, Zaslav is a Hollywood titan, running a company that includes the Warner Bros.’ film studio, HBO, CNN (where one of those children works, predating his leadership), and other assets. But with WBD in the process of selling itself to Paramount, and Zaslav’s own future with the company likely ending when and if that deal closes, he is clearly already thinking about what he wants to do next. And while owning a summer camp is not likely to be about making a quick buck, it suggests that his investments and businesses will span a wider range of possibilities than people may expect.