WBD Shareholders Approve $110B Sale to P-SKY

Warner Bros. Discovery shareholders overwhelmingly approved the company’s $110 billion sale to Skydance-owned Paramount on Thursday, clearing a major hurdle and moving the blockbuster media merger closer to completion.

In a shareholder vote held Thursday, the vast majority backed the deal, according to preliminary results. 

The transaction values Warner Bros. Discovery at $31 per share in cash and includes prized assets such as HBO Max (now Max), the “Harry Potter” franchise, CNN, Warner Bros. studios, and extensive content libraries.

The merger, which creates a massive new media powerhouse, still requires regulatory approvals in the U.S. and Europe and is expected to close in the third quarter of 2026.

The combination would reshape Hollywood and the broader media industry by uniting Paramount’s assets with Warner’s premium content, streaming platform, and global distribution reach. It follows intense bidding competition that included Netflix and marks a significant consolidation wave as traditional media companies seek scale to compete with tech giants.

The deal was unanimously approved by the boards of both companies earlier this year. Gulf sovereign wealth funds have committed nearly $24 billion in equity backing to help finance the transaction.

This approval represents a key milestone for Paramount Skydance, led by David Ellison, in its aggressive push to build a next-generation global entertainment company capable of rivaling larger streaming and media players. Final closing remains subject to customary regulatory reviews and other conditions.