Warner Bros. Discovery shareholders have approved Paramount Skydance’s proposed takeover of the media group, advancing a deal valued at roughly $110 billion including debt in a move that could reshape Hollywood and the global entertainment industry.
According to a preliminary vote count on Thursday, an overwhelming majority of shareholders backed the transaction. Under the terms of the deal, shareholders would receive $31 per share if the merger completes, clearing a key hurdle.
The companies expect the deal to close in the third quarter of 2026, subject to regulatory approval in the U.S. and Europe.
If completed, the merger would combine a vast portfolio of entertainment and news assets, bringing together HBO Max, CNN and the Harry Potter franchise with Paramount’s CBS network, Paramount+ and the Top Gun franchise.
Despite shareholder approval, the transaction faces significant regulatory scrutiny. The U.S. Department of Justice has already issued subpoenas related to the deal, while authorities in Europe are also expected to examine its impact on competition.
Critics have warned that further consolidation in the media sector could reduce competition, lead to job losses and limit content diversity.
At a recent congressional hearing, Democratic Senator Cory Booker said the deal raised questions about “who controls news, who controls entertainment, who controls storytelling.”
The merger has also drawn opposition from parts of the creative community, with thousands of industry professionals raising concerns about reduced opportunities and creative output.
While shareholders approved the merger, they rejected an advisory vote on executive compensation packages tied to the deal, including a proposed payout for Warner Bros. Discovery chief executive David Zaslav.
Paramount Skydance chief executive David Ellison has sought to reassure stakeholders, pledging continued theatrical releases and a commitment to cinema while signalling potential efficiencies across the combined group.
However, the deal has heightened concerns about cost-cutting measures, including potential layoffs and operational restructuring, as the combined company seeks to deliver returns on the transaction.
Türkiye has completed formal preparations to begin direct commercial activity w...
When Donald Trump boarded Air Force One for Beijing on Tuesday, he brought two cabinet members whose presence in Chin...
U.S. President Donald Trump said he does not think he will need China's help to end the war with Iran as he le...
Britain will introduce new legislation aimed at strengthening ties with the European Union as Prime Minister Keir Starmer seeks to rebuild economic...
A new trilateral energy partnership involving Uzbekneftegaz, Azerbaijan’s state oil company SOCAR and BP has been announced during Uzbekistan...
Türkiye has completed formal preparations to begin direct commercial activity with Armenia, a Turkish Foreign Ministry spokesman said on Wednesday, marking another step in the slow but steady normalisation of ties between the two neighbours.
When Donald Trump boarded Air Force One for Beijing on Tuesday, he brought two cabinet members whose presence in China would have seemed unlikely a year ago, highlighting an unusual moment in U.S.–China relations.
A new trilateral energy partnership involving Uzbekneftegaz, Azerbaijan’s state oil company SOCAR and BP has been announced during Uzbekistan Energy Week 2026 in Tashkent.
U.S. President Donald Trump’s three-day summit with Chinese leader Xi Jinping in Beijing, beginning on Wednesday (13 May), comes as rivalry between the two superpowers reaches new heights, a China analyst has said.
Kuwait arrested four members of an IRGC-linked group as they tried to enter the country by sea, the Gulf state's KUNA news agency reported on Tuesday. Meanwhile, a senior IRGC officer said Iran had expanded its definition of the Strait of Hormuz to include a far wider area.
Biological samples from an Italian man were transferred to a specialist hospital for testing on Tuesday, after he was suspected of contracting hantavirus. Meanwhile, World Health Organization boss Tedros Ghebreyesus said there were “no sign” of a larger outbreak linked to the MV Hondius cruise.
Exclusive flight-tracking material obtained by AnewZ has raised new questions about French military aircraft movements linked to President Emmanuel Macron’s recent diplomacy with Armenia and the wider scope of France’s defence cooperation with Yerevan.
Just one week after a similar move by Australia, Greece announced that it will ban access to social media for children under the age of 15 from January 1, 2027, as governments around the world weigh tougher rules amid growing concerns over mental health, safety and screen addiction.
U.S. President Donald Trump said he does not think he will need China's help to end the war with Iran as he left for a high-stakes summit in Beijing on Tuesday, as hopes for a lasting peace deal dwindled and Tehran tightened its grip over the Strait of Hormuz.
Azerbaijan’s Eurovision team are confident singer Jiva will secure a place in the contest’s final after performing in the second semi-final in Vienna on Thursday evening (14 May).
The 79th edition of the Cannes Film Festival has officially opened on the French Riviera, once again transforming Cannes into the global centre of cinema, fashion, and entertainment.
British pop star Dua Lipa has filed a lawsuit against South Korean tech giant Samsung Electronics, seeking at least $15 million in damages over allegations that her image was used without permission to promote television sets.
The Eurovision Song Contest is again under pressure over Israel’s participation, but this year attention is also turning to changes in the competition’s public voting system.
Netflix drama 'Adolescence' was the standout winner at the Bafta Television Awards in London on Sunday (10 May), breaking records with four wins and dominating the night alongside 'The Celebrity Traitors' and 'Last One Laughing', which each took home two prizes.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment