Warner Bros shareholders approve Paramount's $81 billion takeover of the Hollywood giant

NEW YORK - Warner Bros. Discovery's shareholders approved an $81 billion sale of the company to Skydance-owned Paramount on Thursday, propelling a mega merger that could vastly reshape Hollywood and the wider media landscape closer to the finish line.

In a vote held on Thursday, the vast majority of Warner shareholders approved of the deal, per a preliminary count.

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Paramount wants to buy all of Warner - including HBO Max, cult favorite titles like "Harry Potter" and even CNN - for $31 a share in cash. A greenlight from company shareholders increases the likelihood of that becoming a reality. But the deal still faces ongoing regulatory reviews.