Warner Bros. reopens takeover talks with Paramount after Netflix waiver.

Netflix granted Warner Bros. Discovery a narrow seven-day waiver to allow talks with Paramount Skydance over unresolved deficiencies, and WBD now has until Monday to negotiate; the WBD board continues to recommend the Netflix buyout and a special shareholder meeting is set for March 20.

Warner Bros. said in a regulatory filing that Netflix granted a narrow seven‑day waiver under its merger agreement so Warner Bros. Discovery (WBD) could engage with Paramount Skydance to discuss unresolved deficiencies in Paramount's prior offers. WBD now has until Monday to negotiate a possible transaction with Paramount Skydance. Warner's board continues to recommend the Netflix buyout unanimously. A special shareholder meeting is scheduled for Friday, March 20. Key details: - Netflix announced the waiver in a statement and said it was intended to allow WBD to engage with Paramount Skydance to "fully and finally resolve this matter," while noting confidence in its own transaction. - WBD reported in a regulatory filing that the waiver covers discussion of unresolved "deficiencies" in Paramount's previous offers. - Warner Bros. Discovery has until Monday to negotiate a possible transaction with Paramount Skydance. - The article reports Netflix agreed in December to buy Warner's studio and streaming business for US$72 billion in cash, with an enterprise value including debt of about US$83 billion, or roughly US$27.75 per share. - The article reports Paramount Skydance has offered an all‑cash proposal to acquire the entire company valued at US$77.9 billion. - The article reports Warner's stock rose more than 2% before the market open, Paramount Skydance shares climbed nearly 3%, and Netflix's shares rose slightly. Summary: Negotiations between Warner Bros. and Paramount Skydance have resumed after Netflix granted a short waiver that gives WBD until Monday to pursue talks; Warner's board remains aligned with the Netflix transaction. A shareholder meeting is scheduled for March 20, and the companies' competing proposals and any outcome of the short negotiation window will affect what shareholders consider next.