Warner Bros. and Paramount merge

Warner Bros.

Discovery shareholders have voted to approve a massive $111 billion merger with Paramount Skydance, a deal that would fundamentally reshape the global media landscape.

The consolidation of these two legendary studios would create a behemoth with unprecedented control over streaming, film libraries, and news networks.

However, the agreement must still clear rigorous antitrust reviews from the Department of Justice and the FTC. Critics in Hollywood and Washington have raised concerns about the potential for reduced competition and its impact on creative diversity in the industry.