$111B WB-Paremount Mega-Merger Gets Shareholder Approval
The agreement would place Paramount Skydance in control of Warner Bros’ film and television assets, including major franchises such as Harry Potter and Game of Thrones, as well as networks like CNN. Paramount, backed by tech billionaire Larry Ellison and led by his son David Ellison, is aiming to expand its position as a leading entertainment company.
Warner Bros Discovery shareholders have approved a $111 billion takeover by Paramount, clearing a major hurdle for a deal that could significantly reshape the global media industry.
The agreement would place Paramount Skydance in control of Warner Bros’ film and television assets, including major franchises such as Harry Potter and Game of Thrones, as well as networks like CNN. Paramount, backed by tech billionaire Larry Ellison and led by his son David Ellison, is aiming to expand its position as a leading entertainment company.
Warner Bros chair Samuel DiPiazza said the merger would create a stronger combined company and broaden opportunities for audiences and creators. The deal follows a months-long bidding process that included a withdrawn offer from Netflix before Paramount submitted a higher bid.
The transaction still requires approval from US and European regulators, with scrutiny expected over potential antitrust concerns and market concentration, particularly in streaming, news and entertainment.
Criticism of the deal has emerged from multiple fronts. More than 1,400 actors and filmmakers signed a letter warning it could reduce opportunities for creators, cut jobs and limit consumer choice. Senator Elizabeth Warren described the merger as an “antitrust disaster” and indicated that legal challenges could follow.
Concerns have also been raised about the future of CNN under new ownership, particularly given Ellison’s political ties and past criticism of the network by President Donald Trump.
Despite opposition, some analysts believe US regulators are likely to approve the deal, with greater resistance expected from European authorities. Paramount said it expects the acquisition to be finalized by September, pending regulatory clearance.
If completed, the merger would combine Paramount’s existing assets, including CBS, Nickelodeon and Comedy Central, with Warner Bros’ studios, streaming services and cable networks, creating one of the largest media companies in the world.