Shareholders Approve Paramount's Landmark $111 Billion Takeover of Warner Bros

Thu Apr 23 2026 19:29:57 GMT+0000 (Coordinated Universal Time)

Warner Bros Discovery shareholders have given the green light for Paramount's $111 billion takeover bid, a monumental shift that could reshape the media industry, though regulatory approvals remain pending.

The shareholders of Warner Bros Discovery have approved a significant $111 billion takeover by Paramount, which will give Paramount control over major titles and media channels, including Harry Potter and CNN. The deal follows a competitive bidding war, and both companies express hope for a combined future despite ongoing regulatory scrutiny and protests from Hollywood voices against the merger.

Warner Bros Discovery shareholders have approved the company's $111 billion (£82 billion) 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, including an earlier takeover bid for Warner Bros by Netflix, which the streaming service later withdrew after Paramount submitted a rival, higher offer.

Paramount is looking to transform itself into a Hollywood heavyweight, backed by tech billionaire Larry Ellison and led by his son David.

Ellison, chief executive and chairman of Paramount and 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 described as a corruption gala, given the regulatory hurdles still facing the companies. The protesters have also raised concerns about how the Ellisons' ownership of CNN will impact the news network.

Trump has frequently attacked CNN over its reporting of his policies, claiming he believes the news network should be sold as part of any Warner Bros takeover.

In April, more than 1,400 actors, directors, and filmmakers, including Emma Thompson, Ben Stiller, and Javier Bardem, signed a letter warning of the deal's potential impact on opportunities for creators and the job market. Paramount responded by pledging its commitment to talent and the need for more avenues for creative work.

The deal, if approved by regulators, will integrate Warner Bros' HBO Max streaming customers into Paramount's offerings, alongside acquiring brands like Food Network and Discovery Channel, alongside existing networks like Nickelodeon and CBS.

Paramount anticipates finalizing the takeover by September, pending necessary regulatory approvals.