Shareholders approve $110 billion Warner Bros. Discovery Paramount Skydance merger
Warner Bros. Discovery shareholders just approved a massive $110 billion merger with Paramount Skydance. If regulators in the US and E.U. give the green light, this could create a new streaming powerhouse to take on Netflix.
Shareholders are set to get $31 per share when it's all official, but if things drag past September 30, they'll earn an extra $0.25 per share each quarter.
Merger draws job and antitrust concerns
Not everyone's thrilled: Hollywood voices like Joaquin Phoenix have raised concerns about job losses and rising production costs.
Meanwhile, Sen. Elizabeth Warren called the deal an "antitrust disaster threatening higher prices and fewer choices for American families."
There's also big money at stake: if regulators block the merger, Paramount owes a $7 billion breakup fee (and it already paid Netflix $2.8 billion after another failed deal).