Attention now turns to regulatory authorities, with both Washington and London expected to examine the merger’s impact on competition
Warner Bros Discovery shareholders on Thursday backed the company’s proposed US$110 billion merger with Paramount Skydance, but cast an advisory vote against executive compensation plans tied to the deal.
Under the pay packages proposed to executives, CEO David Zaslav could receive up to US$887 million if the sale is completed.
Attention now turns to regulatory authorities, with both Washington and London expected to examine the merger’s impact on competition.
The US Department of Justice sent subpoenas in late March seeking information on how the merger would affect studio output, content rights, streaming competition and cinemas.
Paramount triumphed over Netflix in a months-long bidding war, sealing the Warner Bros deal and cementing chief executive David Ellison as a powerful force in the rapidly contracting entertainment landscape.
The merger has faced considerable opposition from actors, filmmakers and theatre groups that have raised concerns about the loss of a major studio and its impact on the creative community, theatre owners and film-goers.
Source: News - South China Morning Post
