Warner Bros. Reopens Paramount Talks As Netflix Merger Vote Looms
Synopsis
The company said that Netflix has granted it a limited seven-day waiver under its merger agreement, allowing discussions with Paramount Skydance through February 23.
Warner Bros. Discovery, Inc. (WBD) has opened a brief window to engage with Paramount Skydance (PSKY) even as it scheduled a March 20 shareholder vote on its proposed merger with Netflix, Inc. (NFLX).
The company said that Netflix has granted it a limited seven-day waiver under its merger agreement, allowing discussions with Paramount Skydance through February 23.
Despite the temporary opening of talks, the Warner Bros. Discovery board said it continues to back the Netflix transaction unanimously.
Following the update, Warner Bros. Discovery stock traded over 2% higher in Tuesday’s premarket.
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