WBD shareholders approve Paramount takeover
April 24, 2026
Warner Bros Discovery (WBD) shareholders have approved the company’s takeover by Paramount Skydance. The deal, worth $111 billion (€95bn), would see Paramount, backed by Larry Ellison, take control of all of Warner Bros’ catalogue and channels, which include the likes of Harry Potter, DC Comics, Game of Thrones and news network CNN.
“We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” commented Samuel A. Di Piazza, Jr., Chair of the WBD Board of Directors. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
“Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” added David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. “Today’s 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.”
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.
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.
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.
An array of Hollywood actors, directors and filmmakers have opposed the takeover on the grounds it could further harm an already struggling industry. Earlier this April, more than 1,400 talents, including Ben Stiller, Glenn Close, Ted Danson, Jason Batemen and Javier Bardem, signed a letter warning of its impact.
“The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world,” the letter said.
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