Warner Bros Resumes Paramount Takeover Talks

Netflix waiver allows Warner Bros to pursue acquisition of rival studio

Published on Feb. 18, 2026

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Warner Bros has reopened takeover talks with Paramount Pictures after receiving a waiver from Netflix, which had previously blocked the potential acquisition. The two major Hollywood studios are now in discussions about a possible merger that would create a powerhouse entertainment conglomerate.

Why it matters

This potential deal would reshape the entertainment industry, combining two of the largest movie and TV studios under one corporate umbrella. It could lead to significant changes in content production, distribution, and the competitive landscape for streaming services and traditional media.

The details

Details of the renewed takeover talks between Warner Bros and Paramount remain limited, but the key development is that Netflix has granted a waiver allowing Warner Bros to pursue the acquisition. This waiver was likely a critical prerequisite, as Netflix had previously blocked the deal due to concerns about its impact on the streaming market.

  • The takeover talks between Warner Bros and Paramount were first reported in February 2026.

The players

Warner Bros

A major American entertainment company and one of the largest movie studios in the world, owned by Warner Bros. Discovery.

Paramount Pictures

A major American film and television production and distribution company, one of the major Hollywood studios.

Netflix

A leading global streaming entertainment service provider.

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What they’re saying

“This waiver from Netflix is a critical step that allows Warner Bros to seriously pursue acquiring Paramount and create a true media powerhouse.”

— Analyst, Media Industry Analyst (Pittsburgh Tribune Review)

What’s next

The next steps will likely involve further negotiations between Warner Bros and Paramount to determine the terms and structure of any potential acquisition deal, which would then need to be approved by regulators.

The takeaway

The potential merger of Warner Bros and Paramount would be a transformative event for the entertainment industry, combining two of the most iconic Hollywood studios and reshaping the competitive landscape for years to come.