Time Warner shareholders approved the pending $108.7 billion merger with AT&T on Wednesday, putting the mega-deal on a path for a year-end 2017 close.
Time Warner said about 78% of its outstanding shares voted in favor of the deal, with the rest not casting a vote. Of the shares that were voted, 99% were in favor of the transaction.
AT&T and Time Warner announced their deal in October, with the telco agreeing to pay $107.50 per share in cash and stock for the programmer, a 36% premium to its stock price at the time. Time Warner stock closed at $96.32 each on Wednesday, down 7 cents each or 0.1%.
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