Warner Bros. Discovery: Shareholders Overwhelmingly Approve Merger with Paramount
On Thursday, April 23, 2026, the shareholders of Warner Bros. Discovery approved the merger transaction with Paramount Skydance Corporation during an extraordinary general meeting. The preliminary vote indicated a 'very largely favorable' outcome, according to the official statement.
Shareholder Approval
Warner Bros. Discovery, Inc. (NASDAQ: WBD) announced that its shareholders voted to approve the previously announced transaction with Paramount Skydance Corporation (NASDAQ: PSKY) at its extraordinary general meeting held on April 23, 2026. According to the preliminary vote count, WBD shareholders voted 'very largely in favor' of adopting the merger agreement. The final results of the vote are subject to certification by the company's independent election commissioner and will be filed with the Securities and Exchange Commission on a Form 8-K. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, including regulatory approvals.
Executive Statements
Samuel A. Di Piazza, Jr., Chairman of the Board of Warner Bros. Discovery, stated: 'We appreciate the support and confidence our shareholders have placed in us to unlock the full value of our world-class entertainment portfolio. Together with Paramount, we look forward to creating an outstanding combined enterprise that will expand consumer choice and benefit the global community of creative talent.' David Zaslav, President and CEO of Warner Bros. Discovery, noted: 'Over the past four years, our teams have transformed Warner Bros. Discovery and brought the company back to industry leadership. Today's shareholder approval is another key step towards completing this historic transaction that will deliver exceptional value to our shareholders.'
Advisors and Legal Counsel
Allen & Company, J.P. Morgan, and Evercore are serving as financial advisors to Warner Bros. Discovery. Wachtell, Lipton, Rosen & Katz, and Debevoise & Plimpton LLP are serving as legal advisors. The transaction remains subject to customary closing conditions, including the receipt of necessary regulatory approvals.
