On Thursday, Warner Bros. Discovery shareholders will vote on Paramount Skydance’s $81 billion acquisition, a key moment in what could be one of Hollywood’s largest media mergers.
The company is holding a virtual special meeting for stockholders, and anyone who owned shares as of March 20 can vote on the proposed merger. If the deal goes through, Warner Bros. shareholders will get $31 per share, which is about 147% higher than the stock’s price when the Wall Street Journal first reported Paramount’s interest last September.
Because the offer is significantly higher than previous prices, shareholder approval is considered likely. The deal must also receive regulatory approval. Some lawmakers have expressed antitrust concerns, and last month, over 1,000 film and television professionals signed a letter opposing the merger, citing potential effects on the creative industry.
On Thursday, Warner Bros. shares rose slightly, while Paramount shares fell slightly. Both stocks are still trading below the proposed buyout price, suggesting investors are unsure whether the deal will receive regulatory approval and close as planned.
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