Warner Bros Gets 7-Day Netflix Waiver to Engage Paramount Skydance Amidst Merger Battle

• Netflix grants Warner Bros. Discovery (WBD) a 7-day waiver to discuss an amended offer with rival bidder Paramount Skydance (PSKY).
• WBD's board unanimously reaffirms its recommendation for the Netflix merger, despite engaging with PSKY.
• PSKY's revised offer includes a potential $31 per share, but WBD notes discrepancies in the draft merger agreement.
• WBD has outlined key issues to PSKY that must be resolved for any binding proposal, including financing and operational covenants.
• A special shareholder meeting is set for March 20, 2026, to vote on the proposed merger with Netflix.