Warner Bros Reopens Talks as Paramount Signals Higher Bid

Bloomberg Intelligence analyzes the latest developments in the media industry merger negotiations.

Published on Feb. 18, 2026

Got story updates? Submit your updates here. ›

According to Bloomberg Intelligence, Warner Bros Discovery has agreed to reopen negotiations with Paramount Skydance Corp. after Paramount proposed raising its bid and sweetening other terms of its offer. Netflix Inc. has granted Warner Bros. seven days to discuss Paramount's proposal, even though Warner Bros. still recommends that shareholders vote in favor of its binding agreement to sell to Netflix.

Why it matters

This development signals increased competition and potential bidding war for the assets of Warner Bros Discovery, which could lead to a higher sale price and better terms for the company's shareholders.

The details

Paramount has proposed raising its bid for Warner Bros Discovery and improving other terms of its offer, prompting Warner Bros to reopen negotiations. This comes after Warner Bros had previously recommended that shareholders vote in favor of its binding agreement to sell to Netflix. However, Netflix has now granted Warner Bros a 7-day window to discuss Paramount's new proposal.

  • On February 17, 2026, Bloomberg Intelligence reported on the latest developments in the Warner Bros Discovery sale negotiations.

The players

Warner Bros Discovery

A major media and entertainment company that owns various film, television, and publishing assets.

Paramount Skydance Corp.

A media and entertainment company that has proposed acquiring Warner Bros Discovery.

Netflix Inc.

A leading streaming entertainment service that had previously reached a binding agreement to acquire Warner Bros Discovery.

Got photos? Submit your photos here. ›

What they’re saying

“Warner Bros Discovery agreeing to reopen negotiations with Paramount Skydance Corp. after Paramount proposed raising its bid and sweetening other terms of its offer.”

— Stephen Flynn, Bloomberg Intelligence Senior Credit Analyst (Bloomberg Intelligence)

What’s next

The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.

The takeaway

This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.