Warner-Paramount merger approved

The approval marks a pivotal step in a long-running takeover saga that is set to reshape the global entertainment landscape.

Despite the vote, the deal still faces significant regulatory scrutiny and vocal opposition from Hollywood creators who fear reduced competition and job losses.

Shareholders notably rejected the proposed executive compensation package for CEO David Zaslav.

If finalized, the merger would leave only four major film studios in the United States, raising concerns about market consolidation.