The deal appears to be done, as Warner Bros. Discovery shareholders have approved the sale of the company to Skydance-owned Paramount.
The $81 billion sale will bring all of Warner Bros. Discovery under the Paramount umbrella, The Associated Press reported.
The value of the deal is about $111 billion, including debt.
The agreement still has a hurdle to overcome, the regulatory reviews by the Department of Justice.
Warner Bros. expects the deal to close in the third quarter this year.
The AP reported that a “vast majority” of shareholders gave the OK for the deal to proceed.
While they agreed to the sale, the shareholders did not vote to give CEO David Zaslav his $500 million compensation package, but the vote was non-binding, so he will still be able to cash in, Deadline reported.
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