New Delhi, April 24 -- Warner Bros Discovery (WBD) shareholders have approved the $110 billion mega merger by Paramount, propelling a deal that could significantly reshape the media landscape in Hollywood.

Warner Bros. Discovery on Thursday said that the overwhelming majority of its stakeholders voted in support of selling $31 a share. Paramount said that it will acquire 100% of WBD for $31 per share in cash, plus the "ticking fee", valuing WBD at $81 billion in equity value and $110 billion in enterprise value.

The deal would mean that Paramount Skydance takes control of all of Warner Bros' titles such as the Harry Potter franchise and Game of Thrones; channels including HBO Max; and news network CNN.

In a statement, WBD CEO David Zas...