Paramount Skydance Shareholders Approve Hostile $110 Billion Warner Bros Discovery Acquisition

WBD shareholders back a hostile $110 billion Paramount Skydance takeover, creating a media giant amid regulatory hurdles and Hollywood creative protests.

By: AXL Media

Published: Apr 24, 2026, 10:40 AM EDT

Source: RNZ Pacific

The $110 Billion Consolidation of Hollywood Giants

Warner Bros. Discovery (WBD) confirmed on Thursday that its stockholders have overwhelmingly backed the sale of the company to Paramount Skydance. This pivotal vote marks a major milestone in a hostile takeover bid that places the combined equity and debt value of the new entertainment behemoth at approximately $110 billion. Under the finalized terms, Paramount will acquire all outstanding Warner Bros. shares for $31.00 each in cash.

The approval effectively concludes a volatile bidding war that saw streaming giant Netflix initially positioned as the primary suitor before Paramount Skydance escalated its offer. The transaction is set to reshape the global media landscape, merging a century of cinematic history with next-generation production capabilities.

Strategic Rationale and the Ellison Ascendancy

The takeover is largely fueled by the financial backing of Oracle co-founder and billionaire Larry Ellison, whose guarantee was instrumental in swaying the Warner Bros. board. Control of the new entity will rest with his son, David Ellison, CEO of Skydance. Strategically, this move unites a massive library of intellectual property, including CNN, HBO, CBS, and the DC Universe, under a singular management structure.

By acquiring WBD, Paramount Skydance is positioning itself to compete more aggressively against dominant players like Disney and Netflix. The strategy hinges on leveraging "must-watch" franchises such as The Lord of the Rings and Mission Impossible to drive subscriber growth and theatrical revenue. However, the acquisition comes with a "mountain of debt," prompting expectations that David Ellison will implement rigorous cost-cutting measures to stabilize the company's balance sheet post-merger.