Paramount–WBD Deal Vote

Warner Bros. Discovery shareholders voted on April 23, 2026 on a takeover offer from Paramount, the Skydance-backed bidder. (cnbc.com) Paramount’s revised proposal values WBD at about $81 billion of equity and roughly $110 billion of enterprise value. (stocktitan.net) Under the deal WBD stockholders would receive $31.00 in cash per share, with a per‑quarter “ticking” fee that kicks in if the closing slips past Sept. 30, 2026. (stocktitan.net) Paramount said the combined company would produce a minimum of 30 theatrical films a year and that the bid is supported by roughly $47 billion of new equity and large debt commitments. (paramount.com) WBD’s board unanimously recommended shareholders approve the transaction and scheduled a special meeting for April 23, 2026 at 10:00 a.m. Eastern, according to company filings. (ir.wbd.com) The vote follows months of competitive maneuvering — the board labeled Paramount’s $31.00 revision a “Company Superior Proposal” on Feb. 26, 2026 after Netflix declined to match the higher price. (wbd.com) More than 1,400 actors, writers and directors have signed an opposition letter, warning the merger would reduce the number of major U.S. studios and narrow the field of buyers and jobs for creators. (mynews13.com) Paramount responded that the transaction would “strengthen consumer choice and competition” and pledged investment across studios, streaming and third‑party distribution. (mediaplaynews.com) Regulatory review remains an open obstacle: federal antitrust scrutiny is ongoing and the merger agreement includes a $7 billion regulatory‑termination fee if authorities block the deal. (jdsupra.com) If shareholders and regulators clear the path, the companies expect to close in the third quarter of 2026, with WBD shareholders paid $31 per share and the acquisition subject to customary closing conditions. (stocktitan.net)