Danni Hewson, head of financial analysis at AJ Bell, said: “If this was a good old-fashioned feature film, we’d be into the final act of the tale that has been the battle to take over the entertainment giant Warner Bros.
“But shareholders’ decision to back Paramount’s bid for the company is probably just another instalment in a long running saga which has had as many twists and turns as you would expect from the business of entertainment.
“Regulators might yet put a spanner in what has been a Herculean effort by Paramount to snaffle up the home of Harry Potter.
“That shareholders voted overwhelmingly to approve the deal is not a surprise, as the final offer of $31 a share is a premium to where the company is currently trading.
“Former suitor Netflix walked away from a lengthy and bruising bidding war and the alternative is for Warner Bros to continue to go it alone in a sector that’s facing huge challenges.
“Even if this deal does get across the finish line later this year, the newly minted company still faces a long and winding road ahead.
“There are significant areas of crossover between the two entertainment powerhouses but there will be changes and challenges, not least from some of Hollywood’s elite who fear what the deal could do to the industry.”
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