Warner-Paramount Merger Approved by Shareholders

The merger will combine major film studios, streaming services like HBO Max and Paramount+, and prominent news outlets including CNN and CBS. While shareholders green-lit the deal, they issued a notable rebuke by rejecting the proposed executive compensation package for CEO David Zaslav.

The transaction still faces rigorous scrutiny from federal regulators and opposition from some Hollywood figures concerned about industry consolidation.

If cleared, the new entity will become one of the world's largest content creators, aiming to compete more effectively with tech giants in the streaming space.