Bloomberg reported on April 23 that Warner Bros. Discovery shareholders overwhelmingly approved an agreement that will allow Paramount Skydance to absorb the media holding company.
Under the terms of the deal, Paramount will acquire the assets of Warner Bros. Discovery for $110 billion. Once the agreement goes into effect, Warner Bros. shareholders will become shareholders. He will receive $31 per share.
Antitrust authorities in the United States and the European Union continue to review the potential agreement between the two companies. If the deal does not close by September 30, Warner Bros. shareholders will receive at 25 cents per share for each quarter until completion as part of a so-called waiting fee.
The proposed agreement would bring together two of Hollywood’s largest studios and content libraries, as well as streaming platforms Paramount+ and HBO Max.
Paramount is fighting for Warner Bros. assets. months ago. With Netflix, which offered to buy the Warner Bros. film studio. And HBO Max streams for nearly $83 billion. Netflix eventually gave up the battle when Paramount offered a higher sum.
Hollywood celebrities and film and television industry professionals have spoken out against the proposed Warner Bros. merger. Earlier in April. Discover with Paramount. California prosecutors are investigating the proposed deal.