Warner Bros. Shareholders Back $110 Billion Merger with Paramount-Skydance

Warner Bros. Discovery shareholders on Thursday backed the company’s proposed $110 billion merger with Paramount Skydance, but cast an advisory vote against the executive compensation plans linked to the deal.

Under the proposed executive compensation packages, CEO David Zaslav could receive up to $887 million if the sale is completed. Shareholder advisory firm ISS had stated that Zaslav’s potential compensation was «excessively high.»

With shareholder approval secured, attention now turns to regulatory authorities, with both Washington and London expected to scrutinize the merger’s impact on competition.

The U.S. Department of Justice issued subpoenas in late March requesting information on how the merger would affect studio output, content rights, and competition in both streaming and movie theaters.

“The real regulatory pressure lies overseas, where European authorities will focus on the structural impact on the market,” stated Mike Proulx, research director at Forrester.