Warner Bros Discovery Sets Voting Date for Paramount Takeover Approval

As noted before, Paramount announced their official acquisition of Warner Bros Discovery following the company becoming the winner of the bidding process over Netflix this past February. WBD is the current media broadcast partner of AEW.

WBD announced earlier today that they have set an official date of April 23rd for their shareholders to vote for Paramount’s acquisition deal.

WBD also stated that their Board of Directors have unanimously recommended for their shareholders to vote in approval of Paramount’s takeover and merger deal.

Official press release:

Warner Bros. Discovery Sets Shareholder Meeting Date of April 23, 2026 to Approve Transaction with Paramount Skydance

WBD Shareholders Have Opportunity to Vote on All-Cash Transaction with Clear Path to Close

Board Unanimously Recommends Shareholders Vote FOR Paramount Merger

NEW YORK, March 26, 2026 /PRNewswire/ — Warner Bros. Discovery, Inc. (“WBD” or “Warner Bros. Discovery”) (NASDAQ: WBD) today announced that it will hold the Special Meeting of Shareholders (the “Special Meeting”) to vote on the merger with Paramount Skydance Corporation (“Paramount”) (NASDAQ: PSKY) on April 23, 2026 at 10:00 a.m. Eastern Time. It also announced that it has commenced mailing of the definitive proxy statement to shareholders in connection with the Special Meeting. WBD shareholders of record as of 5:00 p.m. Eastern Time on March 20, 2026 will be entitled to vote at the Special Meeting.

Under the terms of the merger agreement with Paramount, WBD shareholders will receive $31.00 per share in cash for each share of WBD common stock they own, which represents a 147% premium to WBD’s unaffected stock price of $12.54ⁱ per share. The transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in Q3 2026, subject to customary closing conditions, including regulatory clearances and approval by WBD shareholders. In the event the transaction has not closed by September 30, 2026, WBD shareholders will receive a $0.25 per share “ticking fee” for each quarter (measured daily) until closing.

“The WBD Board has been guided by the singular principle of securing a transaction that maximizes the value of our iconic assets and delivers as much certainty as possible to our shareholders,” said Samuel A. Di Piazza, Jr., Chair of the Warner Bros. Discovery Board of Directors. “This historic transaction with Paramount not only does that, but it will also expand consumer choice and develop new opportunities for creative talent.”

David Zaslav, President and Chief Executive Officer of Warner Bros. Discovery added, “We look forward to the upcoming Special Meeting. This transaction is the culmination of the Board’s robust process to unlock the full value of our world-class portfolio. I want to thank our talented team for transforming the business over the last several years. We are working closely with Paramount to close the transaction and deliver its benefits to all stakeholders.”

The WBD Board unanimously recommends shareholders vote FOR the Paramount merger.

Allen & Company, J.P. Morgan and Evercore are serving as financial advisors to Warner Bros. Discovery and Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP are serving as legal counsel.