Paramount-Warner merger approved

In a decisive virtual meeting, Warner Bros.

Discovery investors gave their preliminary blessing to a merger that will reshape the global media landscape.

The combined entity will unite iconic brands such as HBO, CNN, and Harry Potter with Paramount's CBS and Top Gun franchises.

However, the vote was not without controversy, as shareholders delivered a sharp rebuke to CEO David Zaslav by rejecting his proposed $886 million compensation package.

The merger now awaits final scrutiny from antitrust regulators in Washington and London, amid growing opposition from high-profile Hollywood creators.