Warner Bros shareholders approve Paramount’s $81 billion takeover of the Hollywood giant

NEW YORK – Warner Bros. Discovery’s shareholders approved the company’s $81 billion sale to Skydance-owned Paramount on Thursday; This has spurred a mega-merger that could drastically reshape Hollywood and the broader media landscape as it nears the finish line.

In a vote on Thursday, the majority of Warner shareholders approved the deal after a preliminary count.

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Paramount wants to buy all of Warner, including HBO Max, cult favorites like “Harry Potter” and even CNN, for $31 per share in cash. The green light from company shareholders increases the likelihood of this becoming a reality. But the deal still faces ongoing regulatory scrutiny.