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Warner Bros. Discovery shareholders vote to approve Paramount deal  but reject David Zaslavs $886M golden parachute

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Warner Bros. Shareholders Approve $111 Billion Paramount Takeover Deal

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Warner Bros. shareholders approve controversial $111-billion Paramount takeover

Warner Bros. Discovery Shareholders Overwhelmingly Approve Paramount Megadeal, but Vote Against Exit Pay Packages for Zaslav and Other Execs

AdaLluch

Warner Bros. Discovery shareholders voted overwhelmingly to approve a $111 billion merger with Paramount Skydance on April 23, with WBD investors set to receive $31 per share — a 147% premium over the stock's unaffected price of $12.54 per share.

Warner Bros. Discovery shareholders voted overwhelmingly to approve a $111 billion merger with Paramount Skydance on April 23, with WBD investors set to receive $31 per share — a 147% premium over the stock's unaffected price of $12.54 per share.

The deal would unite two of Hollywood's remaining five legacy studios and combine the HBO Max and Paramount+ streaming platforms, while also bringing CBS and CNN under the same corporate ownership for the first time.

The deal would unite two of Hollywood's remaining five legacy studios and combine the HBO Max and Paramount+ streaming platforms, while also bringing CBS and CNN under the same corporate ownership for the first time.

WBD shareholders separately rejected, in a non-binding advisory vote, the compensation packages for outgoing executives. CEO David Zaslav's exit package could total up to $886 million, including $517.2 million in equity, $34.2 million in cash severance and up to $335 million in tax reimbursements.

WBD shareholders separately rejected, in a non-binding advisory vote, the compensation packages for outgoing executives. CEO David Zaslav's exit package could total up to $886 million, including $517.2 million in equity, $34.2 million in cash severance and up to $335 million in tax reimbursements.

Proxy advisory firms ISS and Glass Lewis both recommended shareholders vote against Zaslav's payout, with ISS describing it as "one of the highest golden parachute estimates ever observed" and Glass Lewis calling it "a considerable and unnecessary cost to shareholders."

Proxy advisory firms ISS and Glass Lewis both recommended shareholders vote against Zaslav's payout, with ISS describing it as "one of the highest golden parachute estimates ever observed" and Glass Lewis calling it "a considerable and unnecessary cost to shareholders."

The merger still requires regulatory approval from the U.S. Department of Justice and European regulators before it can close, with the DOJ having issued subpoenas in late March seeking details on the deal's potential effects on streaming, movie theater competition and content licensing.

The merger still requires regulatory approval from the U.S. Department of Justice and European regulators before it can close, with the DOJ having issued subpoenas in late March seeking details on the deal's potential effects on streaming, movie theater competition and content licensing.

More than 4,000 film and television industry professionals, including Robert De Niro, Florence Pugh and Bryan Cranston, signed an open letter opposing the merger, arguing it would reduce the number of major U.S. film studios to four and lead to job losses and higher costs for consumers.

More than 4,000 film and television industry professionals, including Robert De Niro, Florence Pugh and Bryan Cranston, signed an open letter opposing the merger, arguing it would reduce the number of major U.S. film studios to four and lead to job losses and higher costs for consumers.

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WBD Shareholders OK $111B Paramount Merger

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