Warner Bros gives Paramount seven days to make ‘best and final’ offer

Tue, 17 Feb 2026

Waiver from Netflix allows film company to engage with rival bidder if it could lead to a ‘reasonably superior offer’

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Warner Bros Discovery (WBD) has reopened talks with Paramount Skydance, giving the company seven days to table its best and final offer and top an existing agreement with Netflix.

WBD has so far stuck to its binding agreement with Netflix and rejected a series of sweetened offers from Paramount, resulting in the company pursuing a hostile $108.4bn (£76.8bn) takeover directly with shareholders