Historic $110B Paramount Merger Approved by Warner Bros. Discovery Shareholders
Warner Bros. Discovery shareholders voted overwhelmingly on Thursday to approve a historic $110 billion merger with Paramount Skydance. This marks one of the largest media consolidations in decades. The deal, set to unite two of Hollywood’s most iconic film studios, now awaits regulatory approval before its projected closing in the third quarter of 2026.
As per the agreement, Paramount Skydance will acquire Warner Bros. Discovery for $31 per share in cash. The combined entity will gain control over major properties, including:
- HBO Max
- Paramount+
- Warner Bros. and Paramount film studios
- CNN
- CBS News
- Cable networks like TNT, MTV, and Nickelodeon
Paramount CEO David Ellison has pledged to release 30 theatrical films annually between the two studios. He also expects to realize $6 billion in cost savings through the merger.
However, shareholders rejected a separate measure approving executive compensation packages in a symbolic rebuke. WBD CEO David Zaslav stands to receive a “golden parachute” valued at nearly $887 million, according to proxy advisory firm ISS.
The deal faces significant opposition from Hollywood A-listers, with over 4,000 industry professionals signing an open letter to block the merger. State attorneys general in California, New York, and other states are examining potential antitrust violations. Senator Elizabeth Warren called the merger “an antitrust disaster” and urged continued efforts to stop the transaction.
Source: CNBC