09:35 AM EDT, 03/26/2026 (MT Newswires) -- (Updates headline and story throughout with additional details from Warner Bros. Discovery ( WBD ) statement.)

Warner Bros. Discovery ( WBD ) said Thursday it will hold a special shareholder meeting on April 23 to vote on its proposed merger with Paramount Skydance ( PSKY ) .

The all-cash deal values the company's shares at $31 each and the transaction is expected to close in Q3, subject to approvals and regulatory clearances, the company said.

Additionally, the company said if the deal has not closed by Sept. 30, shareholders will receive a daily ticking fee of $0.25 per share every quarter until closing.

Warner Bros. Discovery ( WBD ) said its board unanimously recommends that shareholders vote for the merger.