Warner Bros Shareholders Greenlight Paramount's $111 Billion Acquisition

Thu Apr 23 2026 18:21:03 GMT+0000 (Coordinated Universal Time)

In a significant move that could reshape the media landscape, Warner Bros Discovery shareholders have approved Paramount's staggering $111 billion acquisition, pending regulatory approval.

Warner Bros Discovery's shareholders have overwhelmingly approved a $111 billion takeover by Paramount, which will enable the latter to gain control over iconic franchises including Harry Potter and Game of Thrones. With a focus on enhancing consumer choice and expanding their entertainment portfolio, the deal faces scrutiny from the U.S. Department of Justice and European competition regulators. Opponents, including over 1,400 Hollywood figures, have voiced concerns that the merger could harm the industry by reducing opportunities for creators and limiting audience choice.

Warner Bros Discovery shareholders have approved the company's $111bn (£82bn) takeover by Paramount in a deal which could drastically alter the media landscape.

The deal will see Skydance owner Paramount take control of all of Warner Bros' titles and channels, which include Harry Potter, Game of Thrones and news network CNN.

With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community, Warner Bros chair Samuel DiPiazza said.

The deal still needs approval from the US Department of Justice and European competition regulators.

The shareholders' backing of the deal follows a dramatic months-long saga, after an earlier takeover bid for Warner Bros by Netflix, which the streaming service later withdrew after Paramount submitted a rival, higher offer.

Paramount, backed by tech billionaire Larry Ellison, who is also leading the company, is looking to transform itself into a Hollywood heavyweight.

Ellison, a major Republican donor, is hosting a dinner with Trump on Thursday at the U.S. Institute of Peace in Washington DC. Hulk actor Mark Ruffalo is expected to join protesters outside the building to demonstrate against what organizers have termed a corruption gala, given the regulatory hurdles still facing the companies.

Protesters have expressed concerns over how the Ellisons' ownership of CNN could impact the network, particularly in light of Trump's historical critiques of CNN's reporting. He suggested in December that the news network should be sold as part of any Warner Bros takeover, labeling its bosses as corrupt or incompetent.\

Amid concerns over CNN's future, over 1,400 actors, directors, and filmmakers have signed a letter opposing the takeover, warning it could further jeopardize an already struggling industry. They argue it would result in fewer opportunities for creators, fewer jobs within the production ecosystem, higher costs, and less choice for global audiences.

Paramount has countered by asserting its commitment to talent and enhancing opportunities for creators rather than diminishing them.

If approved by regulators, Paramount will absorb Warner Bros' HBO Max streaming customers and acquire ownership of various channels including the Food Network and the Discovery Channel. Paramount's existing brands also include Nickelodeon, CBS, and Comedy Central.

The company anticipates finalizing the takeover by September, contingent upon regulatory clearances.