Paramount and Warner Bros. Merge

The historic merger between Warner Bros. and Paramount has cleared its most significant hurdle with a landslide shareholder vote, despite a vocal protest against CEO David Zaslav’s proposed executive compensation.

The combined company, valued at over $111 billion including debt, aims to compete more effectively against streaming giants like Netflix.

However, over 4,000 members of the Hollywood community, including Robert De Niro and Sofia Coppola, have signed a petition to block the deal, citing concerns over job losses and cultural consolidation.

Regulators at the Department of Justice are expected to launch a comprehensive antitrust review in the coming months.