In a significant development, Warner Bros. Discovery has reopened negotiations with Paramount Skydance to hear the company's 'best and final' offer after receiving a waiver from Netflix, allowing Paramount one week to present its proposal. This move, reported on February 18, 2026, comes after Warner Bros. accepted Netflix's bid for its streaming and studio assets, valued at approximately $82.7 billion. Paramount has increased its offer to $31 per share, up from $30, valuing Warner Bros. Discovery at around $108 billion. Despite this, Warner Bros. Chairman Samuel DiPiazza Jr. and CEO David Zaslav have reiterated their commitment to the Netflix agreement, stating, 'Our Board has not determined that your proposal is reasonably likely to result in a transaction that is superior to the Netflix merger.' A shareholder vote on the Netflix deal is set for March 20, 2026, adding pressure on Paramount to effectively communicate the advantages of its offer to shareholders.