Warner Bros. Shareholders Just Handed Paramount a Crown — Now It Has to Earn It
The streaming wars just got a new heavyweight. Warner Bros. DiscoveryWBD shareholders “overwhelmingly” approved Paramount’sPSKY acquisition on Thursday, clearing one of the last major hurdles to a $111B deal. When it closes, the new media titan will house the likes of HBO, CNN, and Warner Studios — a formidable arsenal aiming for the crown.
- The deal still needs DOJ and international sign-off before a Q3 close — and hundreds of Hollywood creators are already urging regulators to pump the brakes.
- Undeterred, Paramount is already moving with 20 shows, a $7.7B UFC deal, and AI-powered upgrades that helped its Pluto TV viewership jump 50% in the past year.
The real work: While shareholders said yes, convincing subscribers is what actually matters. To do so, Paramount hired former Netflix executive Cindy Holland to assemble an A-list slate of content, aiming to get “the best artists wherever they happen to be.” Meanwhile, ex-MetaMETA product chief Dane Glasgow is sharpening ad targeting across the network, turning a larger content library into more dollars. NetflixNFLX, AmazonAMZN, and DisneyDIS aren't losing sleep over 79M subscribers just yet — but they probably should start.