Shareholders Approve Warner Bros. Discovery Sale in Paramount Deal, Reject David Zaslav’s “Golden Parachute”

The decision on the mega-merger has become one of the most significant corporate votes in the history of Hollywood studios.

Shareholders of Warner Bros. Discovery have approved the company’s sale as part of a deal with Paramount valued at around $110 billion. At the same time, they voted against the generous compensation package for CEO David Zaslav.

A Historic Merger Gains Investor Support
During a vote held on Tuesday, Warner Bros. Discovery shareholders backed the merger with Paramount. Preliminary results announced during a virtual meeting showed “overwhelming” support, effectively clearing the way for the creation of a new media conglomerate.

Final results are expected to be released later, but it is already clear that a ключевой approval stage has been completed.

A New Media Giant: Film, Streaming, and TV Under One Roof
The merger will result in one of the largest media structures in the industry. Under a single umbrella will be film studios Warner Bros. and Paramount Pictures, as well as streaming platforms HBO Max and Paramount+.

The combined company will also control a major portfolio of television networks, including CBS, TNT, TBS, CNN, HGTV, MTV, Comedy Central, and Nickelodeon. This portfolio effectively creates one of the largest operators of both linear TV and digital content in the U.S.

Separate Vote: Rejection of Zaslav’s “Golden Parachute”
Despite backing the deal itself, shareholders opposed the compensation package for David Zaslav. The proposed payout was widely seen as excessive, effectively signaling a lack of confidence in the company’s leadership.

According to discussions, Zaslav could have received between $550 million and $886 million upon the deal’s completion, depending on various conditions. This level of compensation had already drawn criticism from investors and advisory groups.

Pressure from Institutional Investors
One of the factors influencing shareholder sentiment was a recommendation from Institutional Shareholder Services. The firm described the compensation package as “extraordinary” and urged investors to vote against it.

This stance intensified scrutiny over executive pay structures and became a key argument in rejecting the golden parachute.

Next Steps Before Closing the Deal
Following shareholder approval, the next stage will involve regulatory review. Particular attention is expected from European antitrust authorities, which traditionally take a close look at deals of this scale.

On Paramount’s side, its leadership will play a key role in finalizing the agreement once all necessary approvals are secured.

Context: Competing with Streaming Giants
The merger is being positioned as a strategic move to compete with major tech and media players such as Netflix, Amazon, and Apple, all of which continue to strengthen their positions in the streaming and digital content market.

If completed successfully, the new company is expected to become a central force in the global entertainment industry, combining film production, television, and streaming platforms into a single ecosystem.