• Warner Bros. Discovery shareholders approved the merger with Paramount Skydance.
• The merger is expected to close in Q3 2026, pending regulatory clearances.
• Shareholders rejected CEO David Zaslav's proposed pay package.
• The merger includes acquisition of WBD's linear TV networks.

This merger approval may signal a significant shift in the media landscape, potentially altering the competitive dynamics between major streaming services. The inclusion of linear TV networks in the deal suggests a focus on expanding Paramount's reach across multiple platforms, which could have implications for the broader entertainment industry.