Tom DuranteApr 23rd, 2026, 11:14 am
(Jae C. Hong/AP photo)
Warner Bros. Discovery shareholders have approved the $81 billion takeover bid mounted by Paramount Skydance, pushing the high-profile entertainment merger toward being a done deal.
A majority of WBD shareholders OK’d a deal to sell the legendary studio to David Ellison’s Paramount Skydance for $31 a share in a vote on Thursday, according to the Associated Press, which reported that with debt, the agreement is valued at nearly $111 billion.
Back in December, Paramount Skydance announced the hostile takeover bid to acquire all of Warner Bros. Discovery, days after Netflix had been crowned the highest bidder for the legendary studio. The board initially rejected the takeover.
This is a developing story and will be updated.
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