NASDAQ:WBD 10 February 2026 - 22 April 2026

Shareholders at Warner Bros. Discovery have until 11:59 p.m. EDT Wednesday to submit their proxies on Paramount Skydance’s $110 billion offer, with any missed votes automatically counting as opposition. Next up: a special meeting set for 10 a.m. Thursday. If investors approve the $31-a-share cash sale—championed by the board and outside advisers—regulatory clearance becomes the final hurdle.

California Attorney General Rob Bonta says his office is actively investigating Paramount Skydance’s proposed takeover of Warner Bros. Discovery, cautioning the planned merger remains far from settled and pledging a “vigorous” review. The Guardian cited Alvaro Bedoya, ex-Federal Trade Commission commissioner, who believes state attorneys general “have a shot at stopping it.” Bill Baer, who once led antitrust at the Justice Department, described a possible multi-state lawsuit as a “real threat.”