Warner Bros. Discovery has scheduled its special meeting of shareholders to vote on the $110 billion mega-deal by Paramount Skydance.
The company said early Thursday that the special shareholder meeting will be held on April 23 at 10 a.m. ET. The WBD board said that it unanomously recommends that shareholders vote to approve the Paramount deal at the meeting.
It’s the second special meeting scheduled by Warner Bros. this year. The company had previously scheduled a vote to approve the Netflix deal, but announced at the time that it also opened a window to engage with Paramount to try and secure a “best and final” offer.
Ultimately, of course, Paramount’s sweetened bid won the day, and now the WBD shareholders will be able to vote on it.
“The WBD Board has been guided by the singular principle of securing a transaction that maximizes the value of our iconic assets and delivers as much certainty as possible to our shareholders,” said Samuel A. Di Piazza, Jr., chair of the Warner Bros. Discovery board of directors. “This historic transaction with Paramount not only does that, but it will also expand consumer choice and develop new opportunities for creative talent.”
“We look forward to the upcoming Special Meeting,” added WBD CEO David Zaslav. “This transaction is the culmination of the Board’s robust process to unlock the full value of our world-class portfolio. I want to thank our talented team for transforming the business over the last several years. We are working closely with Paramount to close the transaction and deliver its benefits to all stakeholders.”
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