Warner Bros-Paramount merger approved

In a historic move for the media industry, Warner Bros.

Discovery investors have green-lit a massive merger with Paramount Skydance.

While the acquisition was approved, shareholders issued a sharp rebuke by voting against a proposed $886 million 'golden parachute' for CEO David Zaslav.

The merger now faces rigorous scrutiny from antitrust regulators in Washington and London who are concerned about market consolidation.

If finalized, the combined entity will control major assets including CNN, HBO, CBS, and the Paramount+ streaming service.