Warner Bros. Discovery stockholders voted overwhelmingly at Thursday’s Special Meeting to approve the merger agreement with Paramount Skydance, clearing one of the major internal hurdles for what would be one of the most consequential media consolidations in recent history. The transaction is expected to close in Q3 2026, pending regulatory clearances and other customary closing conditions. The combined entity would reshape the competitive landscape of global streaming and studio production at a moment when the industry is under sustained pressure from subscriber saturation, rising content costs, and the encroachment of ad-supported tiers.