Warner Bros. Discovery Sets April 23 Shareholder Vote for Paramount Skydance Merger

WBD leadership has framed the merger as a strategic move to solidify the company’s position in a shifting media landscape.

RMN News Entertainment Desk
New Delhi | March 28, 2026

NEW YORK – Warner Bros. Discovery (WBD) has officially scheduled a special meeting of shareholders for April 23, 2026, to vote on its proposed merger with Paramount Skydance Corporation. The announcement, made on Thursday, marks a major step toward a deal that the WBD Board of Directors has unanimously recommended for approval.

Transaction Details and Shareholder Value

Under the terms of the agreement, WBD shareholders are set to receive $31.00 per share in cash. This price represents a 147% premium over the company’s unaffected stock price of $12.54 per share as of September 10, 2025.

To protect shareholder interests against potential delays, the agreement includes a “ticking fee”. If the transaction does not close by September 30, 2026, shareholders will receive an additional $0.25 per share for each quarter (measured daily) until the closing is finalized.

Leadership Perspectives

WBD leadership has framed the merger as a strategic move to solidify the company’s position in a shifting media landscape. Samuel A. Di Piazza, Jr., Chair of the WBD Board, stated that the transaction was designed to maximize the value of iconic assets while providing certainty to shareholders.

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David Zaslav, President and CEO of Warner Bros. Discovery, described the deal as the result of a “robust process” to unlock the value of the company’s portfolio, which includes brands like HBO, CNN, and Discovery. Zaslav noted that the company is working closely with Paramount to finalize the deal and deliver benefits to stakeholders.

Timeline and Closing Conditions

The special meeting is scheduled for 10:00 a.m. Eastern Time on April 23. Shareholders of record as of the close of business on March 20, 2026, are entitled to vote.

If approved by shareholders and granted necessary regulatory clearances, the merger is expected to close in the third quarter of 2026.

Advisors and Legal Counsel

Several top-tier firms are overseeing the multi-billion dollar transaction. Allen & Company, J.P. Morgan, and Evercore are acting as financial advisors to Warner Bros. Discovery. Legal counsel is being provided by Wachtell, Lipton, Rosen & Katz and Debevoise & Plimpton LLP.