Warner Bros. Discovery shareholders voted overwhelmingly on Thursday to approve the sale of the company to Paramount. The deal could reshape Hollywood and the American media landscape, which critics say is already dominated by just a few powerful players.

In a preliminary vote count, the shareholders approved the previously announced acquisition by Paramount. The deal values the company at nearly $111 billion, including debt. However, the transaction is not final, as it still requires regulatory approval and could face legal challenges.

The merger combines two major streaming platforms, Paramount+ and HBO Max, as well as two major Hollywood studios. It brings two of the biggest names in US television news, CBS and CNN, under the same company. Critics fear that CNN, which has frequently reported critically on the Trump administration, could lose its editorial independence under Paramount's umbrella, especially as Paramount owner David Ellison is described as a Trump ally.

The deal is under review by the European Commission and several US states, including California. In the US, Democratic senators held a hearing last week raising antitrust concerns about the combined company's market power. In Europe, the deal is expected to face fewer hurdles, as the combined company would hold less than 20% market share across EU markets.

The deal could also draw additional scrutiny because it includes financing from sovereign wealth funds in Saudi Arabia, Qatar and the United Arab Emirates, raising potential national security concerns. Warner Bros. expects the deal to close later in 2026.

Source: www.dw.com