Shareholders of Warner Bros. Give Resounding Approval to Paramount's $111 Billion Takeover Bid

In a significant development, Warner Bros. Discovery (WBD) shareholders have given their overwhelming approval to Paramount's massive $111 billion acquisition proposal. This decision comes after a shareholder vote that took place on April 23, with the results still pending verification by an independent election inspector. While this is a crucial step forward, the transaction remains contingent upon receiving the necessary approvals from both the US Department of Justice and European competition regulatory bodies. Looking ahead, Warner Bros. Discovery and Paramount Skydance are anticipating the closure of the deal by the third quarter of September 2026. WBD Board Chair Samuel A. Di Piazza expressed gratitude towards the company's stockholders for their support, highlighting the potential to unlock the full value of their entertainment portfolio. He also emphasized the prospect of creating a combined entity with Paramount that would not only expand consumer choices but also benefit the global creative community. David Zaslav, President and CEO of WBD, echoed this sentiment, stating that the company has undergone significant transformation over the past four years, reclaiming its position as an industry leader. Zaslav viewed the stockholder approval as a key milestone in the historic transaction that promises to deliver substantial value to stockholders. He reiterated the company's commitment to working closely with Paramount to complete the remaining steps, aiming to establish a leading, next-generation media and entertainment company. The journey towards this acquisition began in October when WBD announced its consideration of a potential sale, initiating the acquisition process. Following this, Netflix made an $82.7 billion offer to acquire WBD in December, encompassing its film studio, streaming business, and games division. However, shortly after, Paramount submitted an initial bid of $108.4 billion to acquire WBD, sparking a series of negotiations and a lawsuit. After Netflix withdrew its bid on February 26, 2026, Paramount raised its all-cash offer to $31 per share, valuing the deal at $111 billion. A detailed timeline of the WBD acquisition can be found here.