An $81 billion bid by Paramount for a mega Warner-Paramount merger has received the approval of Warner shareholders, propelling a deal which could greatly reshape Hollywood and the wider media landscape. According to a preliminary vote count on April 23, the overwhelming majority of Warner Bros. Discovery shareholders voted in support of selling the entire business to Paramount for $31 per share, the company said.
Paramount wants to buy all of Warner, but the deal is still not finalised. The proposed acquisition faces regulatory reviews. According to Warner, the deal might close in the third fiscal quarter.
Meanwhile, Warner shareholders rejected a separate measure on April 23 that outlined post-merger payments for company executives.