Weather

65°F4:36 AM

Business

1 read

Warner Bros. Discovery Shareholders Back Paramount Acquisition Amid Controversy

KVIA•Thursday, April 23, 2026 at 3:25 PM•CNN

City skyline representing business and economy news

Want the full story?

Read the complete article at KVIA

AI Summary

Shareholders of Warner Bros. Discovery (WBD) have overwhelmingly approved the acquisition by Paramount, which includes brands like CNN and HBO. This decision, made during a special meeting, is a significant step towards finalizing the deal by the end of September 2023, pending regulatory approvals in the U.S. and abroad. While the deal offers a lucrative price of $31 per share, it has sparked protests and concerns over media consolidation and political influences. Notably, a proposal for substantial compensation for outgoing CEO David Zaslav was rejected, although it remains advisory and may still proceed. The outcome of this merger could reshape the media landscape significantly.

Key Details: • Shareholders voted on the deal on Thursday morning. • The acquisition is expected to close by September 30, 2023, pending regulatory approvals. • Opponents are urging state attorneys general to challenge the merger on antitrust grounds. • A proposal for a compensation package for CEO David Zaslav was rejected but may still be acted upon.

media paramount warner-bros merger shareholders

People & Organizations

ParamountDavid EllisonWarner Bros. DiscoveryDavid Zaslav

Related Articles

New Flesh-Eating Worm Threatens Texas Livestock and Beef Prices

The New World screwworm has been detected in southern Texas, marking its first occurrence in American livestock in decades. This invasive species poses a significant threat to livestock health and could lead to billions in economic losses, potentially driving up beef prices. The situation is alarming for local farmers and ranchers who may face increased costs and challenges in managing livestock health. Residents should stay informed about agricultural updates and potential impacts on local beef supply.

Trump Administration Allocates $700 Million to Support Coal Industry

In a significant move, the Trump administration has announced nearly $700 million in funding aimed at boosting the coal industry. President Trump made the announcement during a speech in the Oval Office, emphasizing that this initiative is part of a broader effort to reduce energy prices and living costs for Americans. The funding includes provisions for wartime authority, highlighting the administration's commitment to supporting traditional energy sources. This decision is expected to impact energy markets and could have implications for jobs in the coal sector.

Facebook Settlement: Upcoming Payments from $725 Million Class Action Fund

El Paso residents should check their bank accounts as a new round of payments from the $725 million Facebook privacy settlement is about to be distributed. This settlement stems from a class action lawsuit concerning user privacy violations. Individuals who were part of the class action may receive compensation, although the exact amounts for each claimant are yet to be disclosed. This financial relief is significant for those affected by Facebook's data handling practices, and recipients are encouraged to monitor their accounts closely for incoming funds.

Visa and Mastercard Halt Services in Cuba Due to US Sanctions

The Central Bank of Cuba announced that Visa and Mastercard will cease operations in Cuba starting Saturday, October 6, to comply with US sanctions. This decision follows a private foreign bank's termination of its relationship with Fincimex, a financial entity linked to the Cuban military's business conglomerate, Gaesa. The cessation of these services will hinder Cuba's ability to receive international payments for goods and services, as highlighted by the Central Bank. The US has mandated foreign companies to sever ties with Cuban businesses linked to Gaesa by a deadline, intensifying economic pressures on the island. This move is part of broader sanctions aimed at Cuba, which have already led to the withdrawal of various foreign enterprises.