Warner Bros Shareholders Give Green Light To Paramount Buyout
Image Source: Animation World Network
Shareholders for Warner Bros. have approved the company’s controversial merger with Paramount Skydance to the tune of $111 billion. Basically, Paramount would absorb Warner Bros., adding properties like Harry Potter, Game of Thrones, CNN, The Food Network, The Discovery Channel, and the HBO Max streaming service to their already large collection of Nickelodeon, CBS, and Comedy Central shows. Two of the leading backers of Paramount are billionaire Larry Ellison and his son David. While U.S. President Donald Trump has supported the deal in public comments, some Democratic lawmakers and Hollywood creatives are planning to oppose it. Mark Ruffalo, best known for hulking out in the MCU, is expected to join in the protests outside the Warner Bros. building. Meanwhile, Senator Elizabeth Warren has raised concerns about the deal being “an anti-trust disaster.”
In a letter signed by 14,000 members of Hollywood’s creative industry, including Emma Thompson, Ben Stiller, and Javier Bardem, they explained, “The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world.” Paramount replied with assurances that creators will have more avenues for work than before. If the deal is approved by regulators, the company expects it to be finalized by September. Current HBO Max subscribers would be folded into Paramount, though it’s unclear if this will include an upcharge.
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