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Warner Bros Discovery and Paramount Skydance Clear Shareholder Vote

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The Warner Bros. shareholder vote

Over 1.7 billion votes in favor against roughly 16.3 million opposed. Warner Bros Discovery shareholders approved the $110 billion Paramount Skydance merger on April 23, and the margin was not close. Anyone running 1xbet site ROI numbers across entertainment sector positions watched WBD shares trade in a tight band near the $31 cash offer through April, the kind of price action that confirms what the wagering markets had already settled on. Paramount beat Netflix in a months-long bidding war for Warner Bros that started in late 2025, and David Ellison now sits weeks away from running the largest media conglomerate assembled since the breakup of the old studio system.

What the $110 Billion Deal Looks Like on Paper

Paramount acquires 100% of WBD in an all-cash deal backed by committed investment from the Ellison family and RedBird Capital Partners. The SEC filing from February 27 laid out the financial architecture, and the numbers below capture the key terms.

Deal Detail Figure
Price per WBD share $31 cash
WBD equity value $81 billion
Enterprise value $110 billion
EBITDA multiple 7.5x (synergized 2026)
New Paramount shares issued $47 billion at $16.02
Minimum annual theatrical releases 30 films

Warner Bros film studio, HBO, CNN, TBS, TNT, CBS, Nickelodeon, and both companies’ television and film libraries all end up under one roof. Paramount committed to 30 theatrical releases a year in the filing, and the streaming side is where the growth bet sits. That much content in one place gives the merged entity a licensing position nobody else in the industry can match, and it also gives every sportsbook chasing broadcast-integration deals exactly one phone number to call when they want their odds overlays sitting alongside live sports.

How the Bidding War Played Out

Netflix went after WBD first. Paramount Skydance came in over the top, and by February 26 WBD’s board called it a superior proposal, with the definitive agreement signed the next morning. They set the shareholder vote for April 23 at 10 AM. It went 1.743 billion shares in favor, 16.3 million against, and 2.37 million abstaining.

Wagering markets had the outcome priced in long before the ballots were counted. Polymarket contracts on deal completion traded heavily through March and April at implied probabilities above 75%, and the gap between WBD’s trading price and the $31 offer shrank to under a dollar heading into the meeting. Anyone holding the deal-completion side of those contracts walked into the vote with a position the markets had already validated. The question on the table was the timing of the cash, not the outcome of the vote.

Regulatory Review and What Stands Between the Vote and Completion

Antitrust regulators on both sides of the Atlantic get the file next, along with a North American competition bureau that opened its review the same day shareholders voted. Hollywood is not thrilled either. Several high-profile entertainment figures have gone public with concerns about what a combined entity this size does to creative independence and working conditions on set.

For the sports betting industry, the regulatory holdup creates an unusual planning window. Sportsbooks running broadcast-integrated products, the kind that overlay live odds on game telecasts and tie promotions to specific media properties, typically negotiate those deals broadcaster by broadcaster. A combined Paramount-WBD would shrink the negotiating universe to one entity sitting on AFC football coverage at CBS, the cable sports wing through TNT, and the streaming distribution running underneath both. That changes leverage on both sides of the table.

Specific properties make the leverage explicit. NFL AFC games and college football sit at CBS. MLB postseason and the cable sports tier live at TNT. March Madness has been split between the two networks since 2011 under a deal that runs through 2032, which means a closed merger puts the entire tournament on one combined network platform for the first time. Sportsbooks negotiating in-stream odds overlays, contextual ads, and content partnerships across those properties currently run two separate tracks for the two broadcasters. After integration, those tracks collapse into a single conversation.

Ellison’s pitch to regulators has to be that consumers benefit and competition survives in streaming, theatrical distribution, and sports broadcasting. If the deal closes, premium scripted content, live sports rights, and cable news distribution all land under one company.

What Oddsmakers and Prediction Markets Are Watching

Completion timelines for deals this size typically stretch six to twelve months past the shareholder vote. Wagering lines on the merger closing before the end of 2026 reflect a split opinion, with Polymarket traders pricing it at roughly 55%. Regulatory conditions could push the timeline into early 2027. Books pricing media-sector futures contracts beyond the close itself, including first quarterly earnings and the sports-rights renewal cycles that follow, have already started taking positions, which is the cleanest tell that the integration is being priced as something more than a paperwork formality. Contracts pricing tighter regulatory conditions, including potential divestitures or behavioral remedies, have started attracting their own volume. That is a step further out the curve than where prediction markets typically sit on M&A timelines this early in the process.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Carnival Calabar to Unveil 2026 Theme May 31 in Lagos

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Carnival Calabar

By Aduragbemi Omiyale

The theme for the 2026 edition of the prestigious Carnival Calabar will be unveiled on Sunday, May 31, at the Eko Hotel Convention Centre, Lagos.

This theme-unveiling event is being organised by the Cross River State Carnival Commission.

The theme guides the bands in their choreography and the presentation of the whole carnival. It also allows the state to engage with stakeholders, sponsors, and the diplomatic community as part of preparations for the yearly programme.

For this year’s unveiling event, Ambassador Gautier Mignot of the European Union (EU) is expected to be the special guest of honour, with Ambassador Paulo Santos of Portugal as the guest of honour.

As part of the activities leading up to the unveiling event, the Chairman of Carnival Calabar, Dr Gabe Onah, paid a strategic visit to Multichoice Nigeria Canal + Company. He was accompanied by the Lead Marketing Consultant of Carnival Calabar, Mrs Mary Ephraim Egbas.

The delegation was received by the chief executive of Multichoice Nigeria Canal + Company, Ms Kemi Okunola, and the Executive Director, General Entertainment, Multichoice Nigeria, Dr Busola Tejumola.

The delegation briefed Multichoice on plans for digital transformation and streaming to a global audience for this year’s event, as well as this Sunday’s event.

Carnival Calabar is the biggest Street Dance Parade in Africa, held every December in Cross River State. It is one of the biggest tourism events in West Africa, drawing millions of visitors to Cross River every year.

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The Evolution of Home Viewing in Nigeria

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Home Viewing in Nigeria

There was a time in Nigeria when watching movies at home wasn’t strictly a “home” experience. People rented VHS tapes and later DVDs from local video clubs around the neighbourhood, and in many cases, viewing extended to video centres or where groups gathered to watch films and sports. It was a shared setup shaped by access, availability, and a very communal way of consuming entertainment.

As time went on, analogue television became the main form of home viewing. Families would gather around a single TV set in the living room, with limited channels and fixed programming schedules. Content was not really something you chose; it was something you aligned your day around. Antenna adjustments were part of the routine, and despite the limitations, TV became a central part of everyday household life.

The introduction of satellite and pay-TV services marked a major shift. Viewers suddenly had more control, more variety, and more access. Local and international content expanded significantly, covering movies, sports, news, and entertainment in a way that changed viewing habits from passive scheduling to active choice.

This is where platforms like GOtv became relevant in the Nigerian context. By making premium entertainment more affordable and widely accessible, GOtv helped bridge the gap between content quality and everyday households. It wasn’t just about more channels; it was about making consistent access to entertainment more realistic for a wider audience.

Today, home viewing has become more flexible and audience-driven. People are no longer tied to fixed schedules; viewing is now based on preference, timing, and convenience. At the same time, shared viewing still exists, especially around live sports and major TV moments, where entertainment becomes a collective experience again, just in a more modern form.

From rented tapes and video centres to satellite TV and now more structured, accessible entertainment platforms, the evolution of home viewing in Nigeria has been a steady shift toward more choice and control. Throughout that journey, GOtv has remained part of the ecosystem, supporting how everyday audiences access and experience entertainment at home.

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How Far Would You Go For the People You Love? Stripped Answers This

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Africa Magic Stripped

Five episodes in, and Africa Magic’s limited series, Stripped, has quietly got people talking. Not because of the stripping, though yes, that is very much part of it, but because of what sits underneath all of it. The guilt. The shame. The quiet, suffocating pressure of being a man in Lagos who is supposed to have it all together but simply does not.

The premise sounds simple. Five friends, all broke, all stuck, all too proud to say it out loud, stumble into a stripping gig at an upscale club called Trabaye after its sharp and seductive owner, Yvonne (Constance Owoyemi) spots them at a birthday party and sees something worth paying for. What follows is anything but simple.

Kelechi “Kel” Okere (Daniel Etim Effiong) is the one carrying the most weight. A former marketing executive now driving Uber to keep his wife and children afloat, Kel is the kind of man who will smile through a crisis so nobody worries. His wife, Ada (Future Lolo Lamai), thinks he is still closing big deals. His children need school fees. The rent is overdue. And every night he comes home, the lie gets a little heavier.

Bolaji (Mofe Duncan), who is loud, charming and energetic, watches his cafe dream bleed out quietly. Suppliers want cash; customers want credit, and charm, it turns out, cannot patch a leaking roof.

Damina (Efa Iwara) is the cool bachelor whose carefully constructed life collapses the moment his pregnant ex walks back through the door. Mensah (Ian Wordi) is a Ghanaian-Nigerian architect and youth pastor caught in a relationship that is slowly erasing him. And Voke (Kunle Remi) is running out of time to free his imprisoned father, one clever scheme at a time.

Their first night at Trabaye is overwhelming. The music, lights, money, and the strange, intoxicating feeling of being wanted. They laugh in the car afterwards and call themselves “Strip Gawds.” For one night, the bills don’t exist. But nothing in Lagos stays clean for long.

Bolaji’s wandering eye pulls the group into dangerous territory. Voke’s schemes start bleeding into the club’s shadier edges. Kel finds himself dangerously close to a line he cannot cross, pulled back only by the sound of his wife’s voice on the phone. And Mensah quietly wonders how many layers of himself he can strip away before there is nothing left worth keeping.

The show’s most devastating moment comes in Episode 4, when Kel has a panic attack. There is no dramatic score, just a man cracking under the weight of everything he has been holding alone. Viewers have not stopped talking about it since. It is the kind of scene that does not just tell you about a character; it shows you something true about the world.

Etim Effiong, who also serves as executive producer, said it plainly. “Men need to catch a break. It’s a really tough world for men, and we deserve some credit.” Episode 5 offers a brief exhale before the walls begin closing in again. The money is good. But the shadows are getting closer.

Stripped is no longer just a show about five men taking their clothes off for money. It is about what men carry in silence, what friendship costs when survival is on the line, and whether the things you do to save your life can also be the things that cost you your soul.

If you have not started watching, you should start now. Catch up on all five episodes now on DStv Stream, and tune in for the final episode this Sunday at 8 PM on Africa Magic Showcase, DStv Channel 151, and GOtv Channel 8.

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