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Warner Bros shareholders approve Paramount's $111bn takeover
Warner Bros Discovery shareholders approved Paramount's $111bn takeover, potentially reshaping the global media landscape. The deal would bring Warner titles and channels under Paramount but still requires U.S. and European regulatory clearance. The approval follows a months-long bidding saga that began with a Netflix bid before Paramount's higher offer.
Why It Matters
The merger could significantly alter media ownership, content distribution, and competition, with regulators still weighing antitrust concerns and industry talent voicing concerns.
Timeline
11 Events
Expected finalisation timeline
September 2026
The company said the takeover is expected to be finalised by September, pending regulatory clearances.
Post-merger integration plans
April 23, 2026
If regulators approve the deal, Paramount would fold Warner Bros' HBO Max streaming customers into its portfolio and take ownership of the Food Network, the Discovery Channel and a range of sports offerings.
Paramount pledges to talent
April 23, 2026
Paramount pledged its commitment to talent and ensuring creators have more avenues for their work.
Protests against the takeover
April 23, 2026
Protesters, including Mark Ruffalo, gathered outside the building to protest a so-called 'corruption gala' and expressed concerns about Ellison's ownership of CNN.
Ellison hosts dinner with Trump
April 23, 2026
Larry Ellison hosted a dinner with Trump at the U.S. Institute of Peace in Washington DC.
Paramount leadership and Ellison backing
April 23, 2026
Paramount is backed by tech billionaire Larry Ellison and led by his son David.
Deal faces U.S. and European regulatory approvals
April 23, 2026
The takeover still requires approval from the U.S. Department of Justice and European competition regulators.
Warner Bros Discovery shareholders approve Paramount takeover
April 23, 2026
Warner Bros Discovery shareholders voted to approve the $111bn takeover by Paramount. Paramount would take control of Warner Bros' titles and channels, including Harry Potter, Game of Thrones and CNN; the deal still requires regulatory approvals from the US Department of Justice and European competition regulators.
Industry opposition letter
April 2026
In April, more than 1,400 actors and filmmakers, including Emma Thompson, Ben Stiller and Javier Bardem, signed a letter warning of the deal's impact on opportunities, jobs, costs and audience choice.
Earlier Netflix bid and rival Paramount offer
April 2026
The deal followed an earlier takeover approach for Warner Bros by Netflix, which Netflix withdrew after Paramount submitted a rival, higher offer.
Trump's criticisms of CNN referenced
December 2025
Trump had previously criticised CNN, saying it should be sold as part of any Warner Bros takeover.