Paramount's $110 billion takeover of Warner Bros. has been approved by shareholders, but shareholders rejected CEO David Zaslav's $886 million compensation package. The merger would combine two of Hollywood's legacy studios, Warner Bros., and Paramount, creating the largest purveyor of linear TV channels in the country. The votes are preliminary, with WBD expected to release more complete results later on. Paramount, led by CEO David Ellison, just needs to clear remaining regulatory hurdles in Europe to close the deal. However, many Hollywood power players have expressed skepticism about the consolidation of these two companies, arguing that it would further consolidate an already concentrated media landscape.