Warner Bros. rejects Paramount again but asks for "best and final offer"
Warner Bros. Discovery is giving Paramount one more week to make its best and final offer, leaving the door open for a deal that could upend its merger agreement with Netflix.
Officially, Warner Bros. is still committed to Netflix. The company today scheduled a special meeting date of March 20 and recommended that shareholders vote for the Netflix merger. But Warner Bros. is simultaneously opening negotiations with Paramount despite calling all of its previous offers deficient.
"Netflix has provided WBD a limited waiver under the terms of WBD’s merger agreement with Netflix, permitting WBD to engage in discussions with Paramount Skydance for a seven-day period ending on February 23, 2026 to seek clarity for WBD stockholders and provide PSKY the ability to make its best and final offer," Warner Bros. said today.