Warner Bros. Discovery Paramount Merger Approved
Warner Bros. Discovery Paramount merger won shareholder approval and moves into antitrust review, heightening regulatory risk and repositioning media flows.
KEY TAKEAWAYS
- Stockholders approved the merger at a Special Meeting on April 23, 2026.
- Company materials characterized the deal as a $110.0 billion merger; secondary reports cited an $81.0 billion figure.
- The vote advanced the transaction into antitrust review, the next material test for closing.
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Warner Bros. Discovery, Inc. stockholders approved the Warner Bros. Discovery Paramount merger on April 23, 2026, clearing a major corporate hurdle and moving the transaction into regulatory review that will determine whether and when the deal can close.
Shareholder Approval Advances Deal and Regulatory Review Looms
Warner Bros. Discovery said in a press release on April 23 that stockholders voted to approve the previously announced transaction at a Special Meeting of Stockholders. The company described the results as preliminary. Paramount Skydance Corporation (NASDAQ: PSKY) will acquire Warner Bros. Discovery, Inc. (NASDAQ: WBD) in a merger valued at $110 billion. Secondary reporting cited an alternative $81 billion valuation, creating a discrepancy in published figures.
The transaction now faces antitrust review, which will be the next significant test for the deal. Advocacy opposition before the vote included a 13-minute video by Sen. Cory Booker and a Writers Guild of America press conference, both raising antitrust concerns. Separately, shareholders rejected CEO David Zaslav’s compensation package.
The company said in its press release, "Warner Bros. Discovery, Inc. stockholders voted to approve its previously announced transaction."
