Warner Bros. Discovery shareholders approve $81B sale to Paramount

Warner Bros. water tower
Warner Bros. deal FILE PHOTO: An aerial view of the Warner Bros. logo displayed on the water tower at Warner Bros. Studio on December 5, 2025 in Burbank, California. (Photo by Mario Tama/Getty Images) (Mario Tama/Getty Images)
By Natalie Dreier, Cox Media Group National Content Desk

The deal appears to be done, as Warner Bros. Discovery shareholders have approved the sale of the company to Skydance-owned Paramount.

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The $81 billion sale will bring all of Warner Bros. Discovery under the Paramount umbrella, The Associated Press reported.

The value of the deal is about $111 billion, including debt.

The agreement still has a hurdle to overcome, the regulatory reviews by the Department of Justice.

Warner Bros. expects the deal to close in the third quarter this year.

The AP reported that a “vast majority” of shareholders gave the OK for the deal to proceed.

While they agreed to the sale, the shareholders did not vote to give CEO David Zaslav his $500 million compensation package, but the vote was non-binding, so he will still be able to cash in, Deadline reported.

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