Warner Bros. Discovery shareholders approve sale to Paramount Skydance
The deal ends a long acquisition saga that included a hard-fought bid from Netflix.
Warner Bros. Discovery logo at one of its offices.
(AFP) Warner Bros. Discovery reported Thursday that its shareholders approved its sale to Paramount Skydance, giving the green light to a bid that values the combined company at $110 billion.
The merged entity will include CNN, CBS, HBO and Nickelodeon, as well as some of Hollywood's most valuable franchises, such as "Harry Potter," "Game of Thrones," the DC Universe, "Mission Impossible" and "SpongeBob SquarePants."
Samuel A. Di Piazza, Jr, chairman of Warner's board of directors stated in a release, "We appreciate the support and confidence our stockholders have placed in us to unlock the full value of our world-class entertainment portfolio."
"With Paramount, we look forward to creating an exceptional combined company that will expand consumer choice and benefit the global creative talent community," he added.
A struggling media landscape
The deal ends a long acquisition saga that included a hard-fought bid from Netflix.
It also creates an entertainment giant whose impact on a struggling media landscape, and its ties to the Donald Trump White House, will come under scrutiny.
About Warner Bros. Discovery
Warner Bros. Discovery inspires, informs and entertains audiences around the world through its iconic brands and products, including: Discovery Channel, HBO Max, Discovery+, CNN, DC, TNT Sports, Eurosport, HBO, HGTV, Food Network, OWN, Investigation Discovery, TLC, Magnolia Network, TNT, TBS, truTV, Travel Channel, Animal Planet, Science Channel, Warner Bros. Motion Picture Group, Warner Bros. Television Group, Warner Bros. Pictures Animation, Warner Bros. Games, New Line Cinema, Cartoon Network, Adult Swim, Turner Classic Movies, Discovery en Español and others.
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