Warner Bros. Discovery Shareholders Back Paramount Acquisition Amid Controversy

Shareholders of Warner Bros. Discovery (WBD) have overwhelmingly approved the acquisition by Paramount Skydance, allowing major media brands like CNN and HBO to unite under one umbrella. This decision, made during a special meeting, is a pivotal step in a lengthy process that still requires regulatory approval in the U.S. and abroad, with hopes to finalize the deal by the end of September. While the deal seems favorable for investors—offering $31 per share compared to last year's $8—opposition exists due to concerns over media consolidation and political ties. Notably, a protest occurred outside WBD's headquarters prior to the vote, urging state attorneys general to challenge the merger on antitrust grounds. Additionally, a proposed compensation package for outgoing CEO David Zaslav was rejected by shareholders, although the board may still proceed with it.

Key Details: • Shareholders voted to approve the Paramount acquisition on April 23, 2026. • The deal aims to close by September 30, 2026, pending regulatory approvals. • Opponents are urging state attorneys general to challenge the merger on antitrust grounds. • A protest against the merger was held outside WBD headquarters on the day of the vote. • The proposed compensation for CEO David Zaslav did not pass, but the board may still approve it.