Warner Bros. Discovery Shareholders Approve Paramount-Skydance Merger

Warner Bros. Discovery shareholders have approved the proposed takeover by Paramount-Skydance, pushing one of the biggest media deals in years closer to the finish line.

Preliminary results from a shareholder vote this week confirmed support for the multi-billion-dollar merger plan involving Warner Bros. Discovery and Paramount Global alongside Skydance Media. The approval clears a major internal hurdle and signals strong confidence from investors that the deal should move forward, assuming regulators give final approval.

If the deal is completed, the merger would combine two of the largest sports, entertainment, and news companies in North America, creating a massive media powerhouse. The move would also close the book on a long-running business battle that saw multiple companies attempt to take control of Warner Bros. Discovery over the past year.

Earlier in the process, Netflix had reached an agreement in 2025 to purchase certain streaming and studio assets from Warner Bros. Discovery in a deal valued at $72 billion. That agreement fell apart after Paramount-Skydance stepped in with a larger offer to acquire the entire company, which ultimately forced Netflix to walk away from the bidding process earlier this year.

Paramount-Skydance submitted what was described as its best and final offer earlier in 2026, including terms that would compensate Warner Bros. Discovery if regulators blocked the merger. That aggressive approach helped secure shareholder backing and positioned the deal as the leading path forward.

Despite shareholder approval now being locked in, the transaction still depends on regulatory clearance before it can officially close. Company projections currently suggest the merger could be finalized by the third quarter of 2026 if government approvals move forward as expected.

This situation carries major implications for professional wrestling and combat sports. All Elite Wrestling currently airs its programming across Warner Bros. Discovery platforms, including TNT, TBS, and streaming services tied to the company. Warner Bros. Discovery also reportedly holds a minority ownership stake in AEW, making any ownership change especially important for the promotion’s future television positioning.

At the same time, Paramount has its own ties to the wrestling and combat sports world through TKO Group Holdings, which owns WWE and maintains major broadcast relationships involving UFC events across Paramount platforms.

With shareholder approval now secured and regulatory review still ahead, the outcome of this merger could have long-term effects on where major wrestling shows air and how future media rights deals are structured. As the process continues, both wrestling companies and television networks will be watching closely to see how the situation unfolds.

Do you think this merger could eventually change where AEW programming airs, or will its current TV setup remain stable even after the deal is finalized? Let us know your thoughts in the comments.