It’s official — and it’s massive. Warner Bros. Discovery shareholders have voted to approve Paramount Skydance’s proposed acquisition, clearing one of the biggest hurdles in what may be the most consequential media deal of the decade. Here’s everything you need to know.
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Warner Bros Vote: Overwhelming, But Not Without Drama
Shareholders voted “overwhelmingly” in favor of the takeover at a special meeting held on Thursday morning. CNN The result was widely anticipated, but no less significant for it.
Over 1.7 billion votes were cast in favor of the merger, compared with roughly 16.3 million against. Axios That’s a landslide by any measure.
There was one notable rebuke, though. Shareholders voted to reject a golden parachute for WBD CEO David Zaslav — a payout totaling more than $800 million in severance and stock awards tied to the acquisition. CNBC Since it was a non-binding advisory vote, however, the payments are still expected to go through.
Key Deal Details at a Glance
| Detail | Info |
|---|---|
| Deal Value | $110 billion (enterprise value) |
| Per Share Offer | $31 cash per WBD share |
| Equity Backing | $47 billion (Ellison Family + RedBird Capital) |
| Debt Financing | $54 billion (Bank of America, Citigroup, Apollo) |
| Expected Close | Q3 2026 |
| Theatrical Commitment | Minimum 30 films per year |
What Happens Next?
With shareholder approval secured, Paramount — led by CEO David Ellison — just needs to clear the remaining regulatory hurdles, particularly in Europe, to close the deal.
The combined company would bring two of Hollywood’s oldest studios under one roof, though Ellison has said he would keep Paramount and Warner Bros. as standalone operations. Fox Business
On the streaming front, HBO Max and Paramount+ will merge, but Ellison has promised to keep HBO running independently as a studio. The Hollywood Reporter
Ellison has also framed the deal in competitive terms — positioning the merger as a move to bolster competition against tech giants like Amazon and Apple, and streaming leader Netflix.
For more on how this reshapes the entertainment landscape, check out our Hollywood and entertainment coverage at technosports.co.in and our breakdown of the biggest streaming wars of 2026.
To understand the full scope of what a merger at this scale means for media regulation, the Wikipedia entry on media consolidation offers useful context.
FAQs
What did WBD shareholders vote on?
They approved Paramount Skydance’s $110 billion acquisition of Warner Bros. Discovery, with the combined company expected to close the deal by Q3 2026 pending regulatory clearance.
Will HBO and Paramount+ become one streaming service?
HBO Max and Paramount+ are set to merge, but HBO will reportedly continue operating independently as a creative studio under the new structure.
