Shareholders of Warner Bros Discovery have voted in favour of the company’s planned merger with Paramount Skydance, moving the $110 billion deal a step closer to completion, as per a Reuters report.
At the same time, investors did not support the proposed compensation structure tied to the transaction. The plan includes a potential payout of up to $887 million for chief executive David Zaslav if the deal goes through, which had drawn scrutiny from proxy advisory firms.
With the shareholder vote concluded, the companies now face regulatory examination across multiple jurisdictions. Authorities in the US and the UK are expected to review the merger’s implications for competition, particularly across film production, streaming services and content distribution.
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The U.S. Department of Justice has already sought information on how the combination could affect areas such as studio output, rights ownership and the broader streaming ecosystem.
Paramount secured the deal after competing with Netflix during the acquisition process, in what has been one of the most closely watched transactions in the media sector.
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The proposed merger has also triggered pushback from parts of the film community. Several industry stakeholders, including filmmakers and cinema groups, have raised concerns about potential job losses and reduced opportunities if the number of major studios shrinks.
The companies have indicated that the transaction is expected to close in the third quarter, subject to all required approvals.
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