Warner Bros. investors have given robust support for Paramount's $111 billion takeover

Shareholders of Warner Bros. Discovery (WBD) have given strong backing to Paramount's proposed $111 billion buyout.

This endorsement followed a vote by shareholders on April 23 and still requires validation by an impartial election inspector.

The deal awaits approval from regulatory bodies, specifically the US Department of Justice and competition officials in Europe.

The companies foresee finalizing this merger by the end of September 2026.

Samuel A. Di Piazza, chair of WBD's board, expressed gratitude towards shareholders, stating their support will enhance the company’s entertainment assets.

He noted the merger aims to create a unified entity that will broaden consumer options and support the global creative industry.

David Zaslav, WBD's president and CEO, remarked on the transformation achieved at WBD over the past four years, citing the acquisition as a crucial step to provide remarkable value to shareholders.

He emphasized ongoing collaboration with Paramount to complete the merger, envisioning a pioneering media and entertainment company.

Last October, WBD initiated the sale process, exploring potential acquisition opportunities.

This led Netflix to make an $82.7 billion offer in December, covering WBD’s movie, streaming, and gaming sectors.

Soon after, Paramount entered with a $108.4 billion takeover proposal.

Following extended discussions and legal action by Paramount, Netflix exited the bidding process on February 26, 2026.

The withdrawal followed Paramount’s revised offer of $31 per share, elevating the total deal value to $111 billion.

For a complete overview of the acquisition progress, visit our acquisition timeline.