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Warner Bros. Discovery Shareholders Approve Paramount Acquisition Amid Controversy

KVIA•Thursday, April 23, 2026 at 2:51 PM•CNN Newsource

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AI Summary

Shareholders of Warner Bros. Discovery (WBD) have overwhelmingly approved the acquisition of its media brands, including CNN and HBO, by Paramount Skydance, slated for completion by the end of September 2023. This decision marks a significant step in WBD's ongoing control struggle, with Paramount's CEO, David Ellison, expressing confidence in securing necessary regulatory approvals. The acquisition comes at a proposed price of $31 per share, a notable increase from last year's $8 valuation. However, the deal faces opposition from various industry veterans and activists concerned about media consolidation and potential political influences, prompting protests and calls for antitrust reviews by state attorneys general. Notably, a separate proposal for executive compensation for WBD's outgoing CEO was rejected during the same shareholder meeting.

Key Details: • Acquisition expected to close by September 30, 2023. • Paramount's offer is $31 per share for WBD, up from $8 last year. • Protests against the merger occurred before the shareholder vote. • State attorneys general are reviewing the deal for antitrust concerns.

media paramount warner-bros acquisition shareholders

People & Organizations

David EllisonWarner Bros. DiscoveryDavid ZaslavParamount Skydance

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