Warner Bros. Discovery is reopening takeover discussions with Paramount Global, owned by Skydance Media, to hear what it calls the company’s “best and final” offer — even as it continues to back its previously announced merger agreement with Netflix.
In a regulatory filing Tuesday, Warner said it received a seven-day waiver from Netflix allowing it to resume talks with Paramount through Monday. The narrow window is designed to address unresolved “deficiencies” and clarify certain terms in Paramount’s most recent proposal.
Board Stands by Netflix — For Now
Despite reopening discussions, Warner’s board reiterated its recommendation that shareholders approve the Netflix transaction. A special meeting to vote on that deal is scheduled for Friday, March 20.
Netflix, in a statement, expressed confidence that its proposal “provides superior value and certainty,” while acknowledging what it described as “the ongoing distraction for WBD stockholders and the broader entertainment industry caused by PSKY’s antics.” The streaming giant said it granted the waiver so Warner could “finally resolve this matter.”
Warner leadership echoed that sentiment, maintaining public support for the Netflix agreement even as fresh talks begin.
