economy
February 17, 2026
Warner Bros Gives Paramount Seven Days to Make ‘Best and Final’ Offer
Waiver from Netflix Allows Film Company to Engage with Rival Bidder if it Could Lead to a ‘Reasonably Superior Offer’
TL;DR
- Warner Bros Discovery (WBD) has reopened talks with Paramount Skydance, setting a seven-day deadline for their best and final offer.
- WBD currently has a binding agreement with Netflix but obtained a waiver to consider Paramount's bid.
- Paramount's offer has been sweetened, including covering a $2.8 billion fee to Netflix and backstopping refinancing.
- Netflix has the right to improve its bid if Paramount makes a superior offer.
- Paramount is also seeking to replace WBD's board members to advance its takeover attempt.
- WBD has set March 20th for shareholders to vote on the Netflix takeover deal.
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