WBD approves Paramount Skydance merger, reshaping Hollywood’s landscape

Warner Bros. Discovery shareholders approved the $110 billion Paramount Skydance merger, valuing WBD at about $77 billion and uniting assets like Warner Bros., HBO Max, CNN, TBS and TNT under one umbrella. The deal still requires DOJ antitrust clearance and faces legal and political pushback, including an industry letter opposing consolidation. Paramount’s David Ellison pledged to maintain theatrical windows and release around 30 films per year across the studios, while Netflix earns a $2.8 billion termination fee after backing out.