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Mergers & AcquisitionsMedium•24 April 2026•

1 min read

Warner Bros. Discovery Shareholders Approve $81B Merger with Paramount Skydance

Key Facts

1Warner Bros. Discovery shareholders approved an $81 billion merger with Paramount Skydance structured at $31 per share in cash.

2Shareholders voted against CEO David Zaslav's compensation package, though the decision is non-binding.

Shareholders of Warner Bros. Discovery (WBD) have officially approved a landmark $81 billion merger with Paramount Skydance, a move set to consolidate their vast content portfolios. The deal is structured at $31 per share in cash, providing a significant valuation anchor as the companies aim to better compete with industry leaders like Netflix and Disney. Despite the approval, shareholders expressed discontent by voting against CEO David Zaslav's compensation package in a non-binding decision. Financial analysts at Guggenheim maintained a 'Buy' rating on WBD stock following the news, noting a price target of $27.17. This strategic merger is expected to reshape the media landscape by integrating film, television, and streaming assets under a single powerhouse. The consolidation marks a pivotal shift in the sector's efforts to achieve scale and operational efficiency.