- Today
- Holidays
- Birthdays
- Reminders
- Cities
- Atlanta
- Austin
- Baltimore
- Berwyn
- Beverly Hills
- Birmingham
- Boston
- Brooklyn
- Buffalo
- Charlotte
- Chicago
- Cincinnati
- Cleveland
- Columbus
- Dallas
- Denver
- Detroit
- Fort Worth
- Houston
- Indianapolis
- Knoxville
- Las Vegas
- Los Angeles
- Louisville
- Madison
- Memphis
- Miami
- Milwaukee
- Minneapolis
- Nashville
- New Orleans
- New York
- Omaha
- Orlando
- Philadelphia
- Phoenix
- Pittsburgh
- Portland
- Raleigh
- Richmond
- Rutherford
- Sacramento
- Salt Lake City
- San Antonio
- San Diego
- San Francisco
- San Jose
- Seattle
- Tampa
- Tucson
- Washington
Warner Bros Reopens Takeover Talks with Paramount After Netflix Waiver
The Hollywood giants continue to battle over the future of Warner Bros. Discovery.
Feb. 18, 2026 at 8:55pm
Got story updates? Submit your updates here. ›
Warner Bros. Discovery has received a 7-day waiver from Netflix to reopen takeover talks with Paramount. This comes as Warner's board still recommends shareholders support its proposed $72 billion merger with Netflix. Paramount has made multiple attempts to sweeten its all-cash $77.9 billion hostile offer for the entire Warner Bros. company, including networks like CNN and Discovery.
Why it matters
The potential sale of Warner Bros. has raised major antitrust concerns globally, with regulators closely scrutinizing the proposed mergers. The outcome will have significant implications for the future of the entertainment industry and streaming landscape.
The details
In a regulatory filing, Warner said it received a 7-day waiver from Netflix to reopen talks with Paramount and discuss 'unresolved deficiencies' and 'clarify certain terms' of Paramount's latest bid. Meanwhile, Warner's board continues to back its deal with Netflix, which would cover Warner's studio, streaming, and legacy TV/movie production. Paramount has made several attempts to increase its all-cash $77.9 billion offer, including pledging to fund Warner's proposed $2.8 billion breakup fee to Netflix.
- On Tuesday, Warner Bros. Discovery received a 7-day waiver from Netflix to reopen talks with Paramount.
- A special shareholder meeting is scheduled for Friday, March 20 to vote on Warner's proposed merger with Netflix.
The players
Warner Bros. Discovery
A major Hollywood studio and entertainment conglomerate that owns Warner Bros. Pictures, HBO, CNN, and other media assets.
Paramount
A media conglomerate owned by Skydance that has made a $77.9 billion hostile bid to acquire all of Warner Bros. Discovery.
Netflix
The leading global streaming service that has a proposed $72 billion deal to acquire Warner Bros. Discovery's studio and streaming business.
What’s next
If Paramount were to increase its offer to $32 or $33 per share, it could become difficult for Warner to argue that the Netflix deal is superior. However, Netflix could then move to match the higher bid.
The takeaway
The battle over the future of Warner Bros. Discovery highlights the intense competition and consolidation happening in the entertainment industry, as major players vie for dominance in the evolving streaming landscape.
