Shareholders Approve $110B Paramount Skydance Acquisition, Deal Closes in Q3 2026
Warner Bros. Discovery shareholders voted overwhelmingly to approve Paramount Skydance’s $110 billion acquisition, which offers $31.00 per share in cash plus Netflix’s $2.8 billion termination fee. The deal, combining HBO Max with Paramount+ under one streaming platform, is slated to close in Q3 2026 pending regulatory approvals.
1. Shareholder Vote Overwhelmingly Approves Deal
Warner Bros. Discovery stockholders cast an overwhelming majority in favor of the merger agreement with Paramount Skydance, endorsing the $110 billion acquisition. The approval reflects strong investor confidence after a competitive bidding process that saw Netflix initially offer $83 billion.
2. Merger Terms and Financial Structure
Paramount Skydance’s winning bid provides $31.00 per WBD share in cash and absorbs a $2.8 billion termination fee from Netflix. Advisors have highlighted the financial structure as a key factor in securing shareholder support and outbidding rival proposals.
3. Streaming Platforms to Consolidate
The combined company will integrate HBO Max and Paramount+ into a unified streaming service, leveraging marquee content such as ‘Sopranos’, ‘Euphoria’, and ‘SpongeBob SquarePants’ to broaden subscriber appeal and reduce overlapping costs.
4. Closing Timeline and Regulatory Process
With shareholder approval secured, the transaction is expected to close in the third quarter of 2026, subject to customary regulatory clearances and antitrust reviews. Both companies are preparing for integration planning and stakeholder communication ahead of closing.