Warner Bros. Discovery shareholders on Thursday voted to approve the Paramount Skydance takeover bid, finishing a serious step towards the $111 billion media megadeal.
The supply from Paramount encompasses the HBO Max streaming service, the Warner Bros. movie manufacturing firm, and cable channels corresponding to CNN. Property owned by Paramount embrace CBS, Paramount Photos and Comedy Central, amongst others.
Shareholders forged ballots “overwhelmingly” in help of the Paramount takeover, Warner Bros. Discovery stated in a statement.
“As we speak’s stockholder approval is one other key milestone towards finishing this historic transaction that can ship distinctive worth to our stockholders. We are going to proceed to work with Paramount to finish the remaining steps on this course of that can create a number one, next-generation media and leisure firm,” Warner Bros. Discovery CEO David Zaslav stated within the assertion.
David Zaslav, CEO & President, Warner Bros. Discovery attends the Los Angeles Premiere of HBO’s “Euphoria” Season 3, April 7, 2026 in Los Angeles.
Monica Schipper/Getty Photos
Shares of Paramount fell almost 5% within the minutes following the announcement on Thursday morning.
In December, Paramount launched a hostile takeover bid to accumulate Warner Bros. Discovery, simply days after Netflix struck a deal to buy a big a part of the media large.
The rival, multi-billion-dollar efforts to accumulate streaming platform Warner Bros. Discovery threatened to upend the media trade and form content material seen by a whole bunch of tens of millions of individuals.
Paramount appeared to achieve the higher hand within the bidding battle in current months. In February, the Warner Bros. Discovery board of administrators voted unanimously to advocate approval of the Paramount takeover.
Below the phrases of the deal, shareholders will obtain $31 per share, which quantities to a 147% premium, Warner Bros. Discovery said in March.
