Shareholders of Warner Bros. Discovery have approved the company’s previously announced transaction with Paramount Skydance Corporation, marking a significant step toward the completion of the proposed merger between the two media companies.
The approval was secured at a Special Meeting of stockholders held earlier today, where a majority voted in favor of adopting the merger agreement. The final voting results remain subject to certification by the company’s independent inspector of election and will be disclosed in a filing with the U.S. Securities and Exchange Commission.
“We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio,” said Samuel A. Di Piazza Jr., Chair of the Warner Bros. Discovery Board of Directors. “With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community.”
The transaction represents a key milestone in Warner Bros. Discovery’s broader strategic plans as it continues to evolve its business and strengthen its position in the global media and entertainment landscape.
“Over the past four years, our teams have transformed Warner Bros. Discovery and returned the company to industry leadership,” said David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery. “Today’s stockholder approval is another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders. We will continue to work with Paramount to complete the remaining steps in this process that will create a leading, next-generation media and entertainment company.”
The merger is expected to close in the third quarter of 2026, subject to the satisfaction of customary closing conditions, including regulatory approvals.
Advising Warner Bros. Discovery on the transaction are financial firms Allen & Company, J.P. Morgan and Evercore. Legal counsel is being provided by Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP.