Warner Bros. Discovery shareholders approve Paramount Skydance merger
Shareholders backed the $31-a-share sale to Paramount, but rejected a pay package for David Zaslav that could have exceeded $800 million.
- On Thursday, Warner Bros. Discovery shareholders voted overwhelmingly to approve the company's sale to Paramount Skydance, valuing the transaction at nearly $111 billion including debt.
- Paramount prevailed in a months-long bidding battle after offering $31 per share in cash, surpassing Netflix's rejected $72 billion proposal and prompting the board to endorse the bid.
- More than 4,000 industry figures voiced "unequivocal opposition" to the merger, citing mass layoffs and reduced creative choices; shareholders separately rejected CEO David Zaslav's non-binding compensation package.
- The deal faces ongoing antitrust reviews by the U.S. Department of Justice, European, and U.K. authorities; it includes a "ticking fee" that increases the price if not finalized by September 30.
- Critics, including Democratic Senator Cory Booker, warn of concentrated cultural power, while California Attorney General Rob Bonta investigates potential antitrust violations as the merger positions Paramount to control CNN and HBO.
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nin.rsThe endorsement comes as it was announced that Donald Trump will attend the dinner alongside billionaire Larry Ellis, who is behind Paramount.
Bristol Herald Courier
Warner shareholders back $110B merger
Warner Bros. Discovery shareholders backed the company's proposed $110 billion merger with Paramount Skydance on Thursday but cast an advisory vote against executive compensation plans tied to the deal.
Shareholders approve $81B merger | Northwest Arkansas Democrat-Gazette
NEW YORK -- An $81 billion Warner-Paramount mega merger has received shareholders' stamp of approval, propelling a deal that could vastly reshape Hollywood and the wider media landscape closer to the finish line.
Paramount Takes the Lead with Mega-Merger: New Era for Hollywood and Media
Paramount Takes the Lead with Mega-Merger: New Era for Hollywood and Media In a landmark move, Warner Bros. Discovery shareholders have greenlighted an $81 billion sale to Paramount. This merger, pending regulatory review, promises to alter Hollywood's power dynamics significantly.The acquisition would position Paramount as a dominant force, uniting Warner's streaming platforms like HBO Max with Paramount's own services. Critics, however, voice …
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