The shareholders of Warner Bros Discovery have given the green light to the merger with Paramount Skydance, an operation that marks a new strategic move within the American audiovisual industry and that could redefine the balance of power among the major Hollywood studios.
The merger reaches an estimated capitalization of $81 billion. By incorporating the debt associated with the operation, the total value of the deal exceeds $110 billion.
Extraordinary Meeting
The approval has occurred during an extraordinary board meeting held this Thursday, in which investors officially backed the agreement previously announced by the company.
The merger represents the union of two big names in entertainment at a time of strong transformation in the sector, marked by competition between streaming platforms, business consolidation, and the search for new profitability formulas.
In February, Paramount beat Netflix in the bidding for the purchase of Warner, after presenting an offer valued at 110 billion dollars (around 93.5 billion euros) for the entirety of the company.
The streaming platform was not looking to acquire the entire group, but rather to focus solely on the business linked to studios, film production, and series. However, it decided to abandon the operation after considering that matching the proposal presented by Paramount was no longer "financially attractive".