Warner Bros Discovery (WBD) shareholders have approved the company\u2019s takeover by Paramount Skydance. The deal, worth $111 billion (\u20ac95bn), would see Paramount, backed by Larry Ellison, take control of all of Warner Bros\u2019 catalogue and channels, which include the likes of Harry Potter, DC Comics, Game of Thrones and news network CNN.<\/p>\n
\u201cWe appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,\u201d commented Samuel A. Di Piazza, Jr., Chair of the WBD Board of Directors. \u201cWith Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.\u201d<\/p>\n
\u201cOver the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,\u201d added David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. \u201cToday\u2019s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders. We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company.\u201d<\/p>\n
Based on the preliminary vote count from the Special Meeting, WBD stockholders reportedly voted overwhelmingly to approve the adoption of the merger agreement with Paramount.<\/p>\n
The transaction is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances from the US Department of Justice and European competition regulators.<\/p>\n
Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to WBD and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.<\/p>\n