Warner Bros. Supports Netflix Deal, Rekindles Paramount Negotiations

Warner Bros. Discovery is at the center of one of Hollywood’s biggest corporate dramas in years. On February 17, 2026, the studio giant confirmed it still backs its planned merger with Netflix, a deal set for shareholder voting on March 20, but also reopened dialogue with rival bidder Paramount Skydance. This surprising move comes after Netflix granted a limited waiver so Warner can hear a “best and final” offer from Paramount by February 23.