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.
Iran said on Sunday (10 May) that it had sent its response to a U.S. proposal aimed at launching peace talks to end the war, as signs of tentative ...
Slovak Prime Minister Robert Fico has cited Azerbaijan as an example of what he described as a sovereign foreign policy, recalling rem...
China’s exports grew faster than expected in April, as overseas buyers moved quickly to secure supplies a...
President Donald Trump called Iran’s response to a US war proposal “totally unacceptable” after Tehran sent its reply through med...
Russia is holding a significantly scaled-back Victory Day parade in Moscow on 9 May 2026, reflecting heightened security concerns and the ongoing w...
Iran said on Sunday (10 May) that it had sent its response to a U.S. proposal aimed at launching peace talks to end the war, as signs of tentative movement emerged around the Strait of Hormuz despite renewed security incidents across the Gulf.
Slovak Prime Minister Robert Fico has cited Azerbaijan as an example of what he described as a sovereign foreign policy, recalling remarks made by President Ilham Aliyev during talks in Yerevan, where he sharply criticised resolutions adopted against his country by the European Parliament.
Russia is holding a significantly scaled-back Victory Day parade in Moscow on 9 May 2026, reflecting heightened security concerns and the ongoing war in Ukraine, now in its fourth year.
Centre-right leader Péter Magyar was sworn in as Hungary’s prime minister on Saturday, propelled into office on promises of change after years of economic stagnation and strained ties with key allies under his predecessor Viktor Orbán.
Efforts to end the U.S.-Iran war appeared to stall as the two sides exchanged fire in and around the Strait of Hormuz. A reported CIA assessment suggested Tehran could withstand a U.S. naval blockade for months despite mounting sanctions and renewed Gulf attacks.
British paratroopers and military medics have been deployed to Tristan da Cunha after a suspected hantavirus case was confirmed, as first evacuation flights carrying passengers from the stricken MV Hondius cruise ship left Tenerife for Madrid and Paris.
Russia is holding a significantly scaled-back Victory Day parade in Moscow on 9 May 2026, reflecting heightened security concerns and the ongoing war in Ukraine, now in its fourth year.
Indonesian rescue teams have located two Singaporeans who went missing after Mount Dukono erupted on Friday (8 May) on the island of Halmahera, though authorities say it remains unclear whether they are alive.
The U.S. Defense Department has released dozens of previously classified files on unidentified anomalous phenomena (UAP) on Friday (8 May), following an order from President Donald Trump. U.S. officials described as a push for “unprecedented transparency”.
Ye will perform in Tbilisi on 12 June as part of a Georgian government-funded programme, despite being barred from entering the U.K. and facing mounting concert cancellations across Europe.
The Formula 1 Azerbaijan Grand Prix 2026 will mark its 10th anniversary with a major entertainment programme in Baku, headlined by global pop star Katy Perry.
The 61st Venice Biennale has opened under grey skies and political tension, with disputes over Russia and Israel, resignations on the jury, and protests marking the start of one of the art world’s most high-profile events.
The steps of the Metropolitan Museum of Art were transformed once again into the world's most prestigious runway for the 2026 Met Gala. This year’s theme, 'Costume Art,' invited guests to explore the intersection of nature, history, and the surreal under the official dress code 'Fashion Is Art'.
Hundreds of young people in South Korea have gathered in Seoul to take part in a city-backed “power nap contest”, aimed at drawing attention to the country’s chronic sleep deprivation.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment