Warner Bros Shareholders Approve Paramount's $81 Billion Takeover
Source: Slashdot
Deal Approval
Warner Bros. Discovery shareholders have approved Paramount Skydance’s takeover bid, moving the massive Hollywood merger a step closer to completion. The approval is not final, as the deal still faces regulatory scrutiny and opposition from critics who warn it could further concentrate media power.
According to the Associated Press, a preliminary vote count on Thursday showed that an overwhelming majority of Warner Bros. Discovery stakeholders voted in support of selling the entire business to Skydance‑owned Paramount for $31 per share. Including debt, the transaction is valued at nearly $111 billion based on Warner’s current outstanding shares. This would place Warner‑owned assets such as HBO Max, the “Harry Potter” franchise, and CNN under the same corporate roof as Paramount’s CBS, “Top Gun,” and the Paramount+ streaming service.
Statements
“Stockholder approval marks another key milestone toward completing this historic transaction,” said David Zaslav, CEO of Warner Bros. Discovery.
Paramount added that it looks forward to closing the deal in the coming months and “realizing the creation of a next‑generation media and entertainment company.”
Additional Information
Warner shareholders also rejected a separate measure outlining post‑merger payments for company executives.